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How Much Should You Spend on a Wedding Ring?

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How Much Should You Spend on a Wedding Ring?

Are you thinking about getting married? If so, congratulations! However, whether you’ve already popped the question or are just thinking about it, there’s a lot of things to consider. You have to find a venue, a band, book a caterer, get a cake. The list goes on and on. In all the hubbub though, don’t forget to get your wedding rings!

Out of your entire wedding budget, you should spend about 3-5% on your wedding bands. This will ensure you get nice, matching bands that don’t break the bank but still look lovely for the both of you.

About Engagement Rings

When you’re asking yourself how much should you spend on a wedding ring, however, you’re more often than not thinking about engagement rings. Engagement rings tend to be quite a bit more expensive and extravagant. That being said, just because there are certain “rules” or averages quoted on wedding websites doesn’t mean you have to stick to them. What follows is just a guide of what is currently considered the “norm” in terms of cost of engagement and wedding rings.

You might have heard this one: an engagement ring should cost as much as two months of your salary. Yes, that is the old “rule” when it comes to determining your budget for the ring but don’t let this hold you down. If this is just too much for your budget (and don’t worry, it is for many people) don’t feel pressured to buy outside of your means. Instead, opt for a ring that fits more within your budget. The engagement ring is just one part of what you’ll be spending soon. Weddings themselves are quite expensive, so please try to keep that in mind.

Buying Options

If you have money saved up for a ring, that is the ideal situation. You see, if you buy a ring on credit, you’ll be paying that off for several months. This means it’s highly likely that you’ll be married and your incomes will be combined before that debt is paid off. This creates the very real possibility that the recipient of the ring will be helping to pay off that debt, which doesn’t seem right.

The less debt you accrue, the better, when it comes to wedding planning and starting out your lives together. Do you really want to begin your married lives buried in debt?

So, the answer to the question of how much you should spend on a wedding ring really comes down to personal preference and budget. Yes, the old rule is to spend two months’ salary but that’s just not very realistic for a lot of people nowadays. Instead, opting for a more reasonable amount or even using an heirloom ring are more preferable options.

Additionally, it’s important to differentiate between a wedding ring and engagement ring. Typically, you’ll spend less on wedding bands than you would on an engagement ring but it’s up to you. Remember: this is your big day we’re talking about. Do what feels right for your situation.

Goldman downgrades Tiffany shares on "˜fresh weakness' in sales of higher-priced jewelry

sales problems are not likely to be fixed anytime soon, according to a top Wall Street firm. Goldman Sachs lowered its rating for Tiffany shares to neutral from buy, predicting difficulties in the company's higher-end luxury goods segment even though new ...

Published:  Sat, 23 Sep 2017 14:39:00 GMT



Thieves stole $600K in jewelry in broad-daylight heist

A thieving duo stole $600,000 worth of jewelry from a Manhattan store in a brazen daytime robbery, police said. The pair walked into Sean's Diamond and Jewelry Inc. on Canal Street near Broadway on Sept. 15 around 11:30 am, flashed guns and demanded one ...

Published:  Sat, 23 Sep 2017 08:13:00 GMT



Gunmen swipe $600G in bling from Chinatown jewelry shop

A pair of gunmen raided a Chinatown jewelry shop and made off with $600,000 in bling, cops said Friday. The bandits barged into Sean's Diamond & Jewelry Inc. on Canal St. near Broadway around 11:30 a.m. on Sept. 15, according to authorities. They pulled ...

Published:  Fri, 22 Sep 2017 21:46:00 GMT



Two Men Steal $600,000 In Jewelry In Daring Broad-Daylight Heist

Police are looking for a pair of gunmen who robbed a Chinatown jewelry store in broad daylight, and tied up the employees with zip ties before they fled. Cops say that two men walked into Sean's Diamond & Jewelry Inc., located at 277 Canal Street, shortly ...

Published:  Sat, 23 Sep 2017 23:40:00 GMT



Not your usual San Francisco car burglary - $900K worth of jewelry missing

Two tote bags were stolen from a 2016 Cadillac Escalade in the parking lot of Ocean Beach on Saturday, Aug. 12, 2017. Among the items taken were four antique jewelry pieces valued at approximately $900,000. Two tote bags were stolen from a 2016 Cadillac ...

Published:  Fri, 22 Sep 2017 17:20:00 GMT



Robbers steal $600,000 worth of jewelry, zip tie employees: police

SOHO, Manhattan - Police are looking for two men involved in a jewelry store robbery in Manhattan. On Sept. 15, two men entered Sean's Diamond & Jewelry Inc. on Canal Street, showing their guns, demanding one of the employees open the safe, said police.

Published:  Sat, 23 Sep 2017 08:13:00 GMT



Enterprising Car Prowler Pulls Off Huge Jewelry Heist

(Newser) - Police don't often ask for the public's help to solve a car break-in, but then most cars aren't carrying nearly $1 million in jewelry. The San Francisco Chronicle reports someone smashed the windows of a Cadillac Escalade parked in San ...

Published:  Sat, 23 Sep 2017 09:32:00 GMT



Nearly $1 Million In Jewelry Stolen In Great Highway Auto Burglary

Curry: 'I Don't Want To Go' To The White HouseThe Golden State Warriors have been in discussion with the White House over a possible visit, but the team will meet soon to determine if they will make the journey to Washington to meet with President Donald ...

Published:  Sat, 23 Sep 2017 21:50:00 GMT



From jewelry to woodworking, Peters Valley festival's crafts draw a crowd

FRANKFORD -- The first day of the 47th annual Peters Valley Craft Fair brought many excited patrons to the Sussex County Fairgrounds on Saturday -- so many, in fact, that doors opened prior to the scheduled 10 a.m. start time. "We had a line at 9 o'clock ...

Published:  Sat, 23 Sep 2017 21:17:00 GMT



5 charged in million-dollar robbery of jewelry merchant

Cincinnati - A federal grand jury has indicted five Ohio residents in the robbery of a diamond and jewelry merchant from Monroeville, Pennsylvania. The federal prosecutor for Ohio's southern district says the Middletown residents were indicted this month ...

Published:  Sat, 23 Sep 2017 11:44:00 GMT



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