How Much Should You Spend on a Wedding Ring in 2025?

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.