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How Much Should You Spend on a Wedding Ring?

Tuesday, January 19th

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.

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Jewelry Store FAQ

You can get any jewelry you'd normally buy at a brick-and-mortar store. From watches and bracelets to custom-designed engagement rings, there's no limit to the selection you'll find when shopping online for your next piece of jewelry.
Why not? You've got the convenience of shopping anytime and from anywhere, the world's best inventory, and prices that rival what you'd get locally. Because many online jewelry stores don't have a retail presence, they save money on overhead and pass those savings along to the customer.
Some stores include free shipping - either on all orders or when you spend a minimum amount of money. Your package will likely be insured by the jeweler, so it should arrive just as safely as your other deliveries. (Just watch out for porch pirates!)
You'll usually be covered by a return policy ranging from 30-60 days. Many jewelers include a prepaid return label with your jewelry. Or, if you're buying online from a jeweler that has a location near you, you may be able to return it in-person for added peace of mind.
The sky is the limit. Whether you want an inexpensive pendant or a $20,000 diamond, you'll find it online.
Sometimes. Only a few specifically state that they'll cover lost gemstones within the first year, for example. You might want to consider a separate insurance policy if you're buying a more expensive piece of jewelry.
Yes, depending on the store you select. You'll usually see those options in a link at the bottom of the site, or on the individual product pages for each piece of jewelry you're considering (often near the price details).
Unfortunately, not all online jewelers are created equal. Some do a flawless job of delivering everything they promise and more - but others have left hundreds (if not thousands) of unhappy customers in their wake. But, it's easy to spot the jewelry stores that deserve your business: just look for an "A+" rating from the Better Business Bureau and plenty of positive reviews from shoppers, and you'll know it's a trustworthy option for your jewelry purchase.

Compare Jewelry Stores

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  • Blue Nile
  • Helzberg Diamonds
  • Super Jeweler
  • Jared
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  • Szul
  • Jewelry
  • Kay
  • Jewelry Television
  • True Facet
  • Netaya
  • Diamonds International
  • Palm Beach Jewelry
  • Jeulia
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