The engagement ring, the first step to making your love an official commitment through marriage. When it comes to proposing, you do need to consider the logistics of how and where you will ask your partner that beautiful question “will you marry me?”

One of the most important decisions you need to make in the lead up to popping the question is, what type of ring will you choose, and how much will you need to spend?

An engagement ring is, after all, forever, but don’t let this make you feel overwhelmed. Make this your opportunity to really grasp your love for your partner and choose a ring she will love just as much as she loves you!

So, we are sure you are wondering how much should you spend on an engagement ring? With the cost also comes the style, so let’s take you through some of the different considerations of the engagement ring before you decide on how much you will spend.

The different styles of engagement ring – from vintage to modern

 The style of an engagement ring can range from the modern, yet simple style to a classic vintage design. When you are choosing the style, this will impact the budget you will be looking at.

A modern look might be simple but has featured diamonds in the ring. But a vintage ring requires more colour and more features to the ring that could bump up the price.

Of course, when choosing a ring, you want to decide whether you will go with a simple design, a design with more stones and diamonds or a custom-made design, which again will increase your budget.

Are diamonds your girl’s best friend? Or does she prefer a colour stone to give her style more of a vintage look? You want to make sure you know what type of ring she will like. We recommend having subtle conversations and looking at the type of jewellery she already has in her collection.

Once you know what type of style you want to look at, it makes the budgeting a lot easier and means you can do some online research around price.

But of course, the question also is…. “What type of diamond will you go for?” 

The popular diamond cuts to consider – Diamonds are ranked on their quality based on the 4cs:

  • Cut
  • Colour
  • Clarity
  • Carat

Of course, you don’t need to know this in detail, but the diamond you choose will be priced based on these factors. You might opt for a coloured stone in the ring, but the chances of you still having diamonds featured on some part of the ring is likely!

You might have a diamond feature or diamonds set on the band on the engagement ring, either way, the diamond style will determine the budget you will need.

Here are some of the popular diamond cuts (just for research purposes):

  • Princess Cut: very feminine and contemporary
  • Cushion Cut: square, soft and a classic shape
  • Round Brilliant Cut: traditional and timeless
  • Oval Cut: a modern and bold look
  • Emerald Cut: this is a very vintage style
  • Pear Shape: an elegant teardrop style
  • Radiant Cut: a very unique cut
  • Asscher Cut: a modern vintage style

Each diamond style will always reflect the certain personality and style of the love of your life. Don’t be afraid to choose, you will always have a professional jeweller by your side to guide you!

Plus, of course, the research is a very important step when it comes to not only choosing the ring, but for setting your budget.

How much should you spend on an engagement ring?

You might have heard of the terms, use the “three-month rule”. This is where you use around three months of your salary to buy the perfect engagement ring.

But it does all depend on your partner, their style and what you both value as a couple. When it comes to choosing the budget of the engagement ring, it might not seem feasible to spend three months of your salary because you both prefer to spend your money differently. Or you might be an excellent saver and know your partner has the perfect ring in mind that you want to save up for.

So, ask yourself a few questions first:

  • When do I want to propose? (this will determine how long you will have to save/spend)
  • What do we value as a couple? (this will help determine the value you and your partner put on the ring)
  • How much you might be willing to spend on your wedding as a whole (usually the ring is a percentage of the budget)

Don’t over analyse how much you should spend on a ring. It comes down to the love you have for your partner and the effort you put into choosing the ring. Rings for engagements can range from $1,000 to $100,000, it really depends on the style of the ring, the diamonds used and if it is custom made or not.

Final thoughts

Buying an engagement ring for your partner is a beautiful memory in what will be a long history for you two. Enjoy the process and take it as an opportunity to showcase your love and get to know what your partner likes.

At Kalfin Jewellery, we specialise in high-quality custom-made diamond engagement rings. We understand that choosing an engagement ring is a big decision, that is why we have countless options to explore and plenty of questions you’ll have answered by our expert team before you make that decision.

So, are you ready to pop the question? Book an appointment or simply start the conversation with us today. We want to help you not only make the process simple but enjoy these moments so you can feel at ease going into the proposal.