You’ve found “the one”. Congratulations! Are you ready to buy an engagement ring? 

When considering an engagement cost, many factors are likely to come to mind: budget, cut, time, and so forth. There on THESWISSAVENUE are many things to consider before you make a choice. 

If curious about the price of engagement rings, or you’re not sure where or how to start the process of shopping for one, keep reading to learn more. 

Shopping For Engagement Rings

Have you ever heard of the idea that you spend three-months salary on an engagement ring? This idea originated in the 1930s and was invented by a diamond company. Many people latched onto it and followed it. 

Nowadays, expenses are more, and the cost of living has greatly increased. Also, people are focusing as much on the engagement ring as in previous generations. They’re thinking of forming a life together, buying a house, paying off student loans, or adopting a minimalism mindset, so an engagement ring may not be high on the list. 

Even so, buying an engagement ring is an experience the couple is choosing to do and how they’re doing it will reflect their relationship. Some are shopping together and spending large amounts of money, while others are perfectly content spending a couple hundred dollars. 

Average Engagement Ring Cost

The average engagement ring cost has fluctuated significantly over the past few years. In 2018, the average price for an engagement ring was over $7,000. This number includes people from all walks of life. 

Several things will contribute to the cost of your engagement ring. 

Budget

Your budget should be your primary focus when it comes to choosing an engagement ring. Following the three-month rule may be a good place to start, but it’s not a set-in-stone rule. 

Most couples now are setting their budget together, or even splitting the cost of the ring. Whatever you choose to do, make sure you stick to your budget and don’t go overboard. 

Partner

Traditionally, the groom-to-be would purchase the ring unbeknownst to the bride-to-be. It would be a lovely surprise. 

Today, however, some couples are choosing to shop together and taking their time to pick out a ring, sometimes months, to ensure that the partner loves the ring. 

Your partner’s ideas about engagement rings will influence however you choose to shop. 

Type of Ring

And of course, the type of ring you choose will play one of the biggest roles in how much you spend. There are a variety of rings to choose from like diamond ring cuts, but the type of metal, the stone setting, and the stone (or stones) itself will all contribute to the cost of the ring. 

Do some shopping both online and in-store to find a ring that fits your and your budget perfectly. 

Engagement Ring Shopping

No matter the engagement ring cost, it’s important that you choose a budget and a ring that reflect your personality or you as a couple. Choosing a ring is a fun and exciting time!

Need to learn more about how to prepare for your big day? We’ve got you covered! Check out our wedding page here for all the latest tips!