Engagement rings are a symbol of love and commitment, and often come with a hefty price tag. But how much do guys typically spend on engagement rings?
The traditional amount for an engagement ring is two months of the groom-to-be’s salary, but this is not always the case. In recent years, the average amount spent has been declining due to a variety of factors, such as the economy and changing expectations.
A survey of 2,000 recently-engaged or married couples conducted by jewellers, Ernest Jones, found that the average amount spent on an engagement ring was £1,417. The survey also found that the majority of men (60%) spent between £500-£2,000.
The type of ring chosen had a significant impact on the amount spent. Men typically spend more on diamond rings than any other type of ring. The survey found that the average amount spent on a diamond ring was £1,858, while the average amount spent on a non-diamond ring was £744.
The type of metal chosen had an impact on the amount spent as well. Men typically spent more on gold rings than any other type of metal. The survey found that the average amount spent on a gold ring was £1,717, while the average amount spent on a silver ring was £717.
The survey also found that men from London spent the most on engagement rings, at an average of £1,927. Men from the East Midlands spent the least, at an average of £1,106.
The amounts spent on engagement rings are likely to vary depending on a variety of personal factors, such as the couple’s budget and expectations. It is important to remember that the value of an engagement ring does not determine the value of a relationship, and that the most important thing is that the ring is meaningful to the couple.
Frequently Asked Questions
FAQ 1: How much do guys typically spend on engagement rings?
Answer: The average cost of an engagement ring is around $5,000, however it is common for men to spend anywhere from 1-3 months of their salary on an engagement ring. Factors such as the type of metal, size and quality of the diamond, as well as any custom settings, can all affect the price of the ring.
FAQ 2: Are there any alternatives to diamond engagement rings?
Answer: Yes, there are plenty of alternatives to traditional diamond engagement rings. Popular alternatives include moissanite, sapphire, rubies, and emeralds. You can also opt for a non-diamond ring made with a unique design or pattern.
FAQ 3: Does the engagement ring need to match the wedding band?
Answer: No, the engagement ring does not need to match the wedding band. However, many couples choose to get a set of rings that coordinate with each other, either through similar designs, materials, or stones.
FAQ 4: What is the best metal for an engagement ring?
Answer: The best metal for an engagement ring depends on personal preference, budget, and lifestyle. Popular options include yellow gold, white gold, rose gold, platinum, and palladium.
FAQ 5: How do I determine my ring size?
Answer: You can measure your ring size at home by wrapping a thin strip of paper around your finger and then measuring the circumference of the paper. You can also measure your ring size with a ruler or caliper. Alternatively, you can visit a jewelry store where they can measure your ring size accurately.