How much should I spend on my Engagement Ring?

In recent years at Charles Nobel, we have found that the average engagement ring purchase is around £1750. 

An online poll, however, found that 70% of men feel pressured to spend more money on an enragement ring than they can afford. Every couple is unique, and your engagement ring budget should reflect your particular situation.

It is important to answer these three questions before buying an engagement ring:

  • How much do you earn?
  • What type of ring does she expect?
  • What other expenses will you have to pay for in the future (wedding / honeymoon / buying a house)?

Do some research before making a purchase. Find out what your partner expects and stick to her style. She may want something conventional or may prefer a ring that’s different to the norm. Does she want a big rock or something more understated?

It is important to set a budget before you go in to a jewellery store. Decide your minimum and maximum spend. This budget can be derived from considering your current financial situation. You don’t want to be cheap, as your loved one will be wearing the ring for the rest of her life.

Also make sure you decide how you will pay. Do you intent to pay up front, or will you buy on credit? Your partner will want something she loves, but will she be happy if you go into debt?

In short, make sure you spend the amount that YOU are comfortable with. Don’t let your friends or family persuade you to make a decision you are uncomfortable with – it is entirely up to you. By all means ask them for advice, but at the end of the day, it is your choice.

If you have any more questions, or would like to speak to one of our experts, don’t hesitate to contact us directly or visit us in store.