How Much to Spend on an Engagement Ring

How much spend on an engagement ring? You may ask 10 distinct folks and get 10 various answers to this tough question. The jewelry market would lead you to believe that you ought to spend two months worth of income on a ring. If the "two months of income rule" is right, I know a good deal of low-cost persons! The truth is the fact that couple of people come close to spending that much cash on an engagement ring. Research has shown that even millionaires normally buy engagement rings worth much less than $5,000. Spending large amounts of capital on 1 piece of jewelry is just not financially prudent, so what is the purpose of spending important amounts of funds on an engagement ring? Hopefully you agree that an engagement ring isn't an investment. I know my wife would kill me for selling her engagement ring (and I never plan to do so). If this high priced piece of jewelry isn't an investment, then perhaps the size of the diamond is proportional to the amount of like you've got for your wife? The jewelry business would enjoy for this to be correct. Looking at the costly engagement rings worn by regularly divorced actresses, I wonder if your marriage could be safer by purchasing a less high-priced diamond ring. With an high priced diamond engagement ring not getting an investment or an accurate measurement of really like, what does an expensive diamond ring mean? The answer - liability. Would a man walk about town day-to-day holding $20,000 in cash? Hopefully not! Thankfully engagement rings is often insured. For those who wear high-priced jewelry, make sure you insure this asset. In case you are inside the industry for a ring, look at: 1. A loved ones heirloom. You could have the ability to get it at no cost, and it holds much additional meaning. If it really is incredibly beneficial, insure it. two. Spend a reasonable amount of dollars on a ring from a second-hand source. For those who visit a chain jewelry shop, you will overpay. 3. Some thing other than a diamond. There is certainly no rule which you need to have a diamond engagement ring. There are many appealing stones available. four. Negotiate. Diamond rings aren't beyond haggling. Shopping for an engagement ring should be enjoyable. If the price is stressing you out, you may be trying to spend too much income. A larger diamond is not worth getting in debt over. Then once more my objective is always to teach you how to become wealthy.