How Much Should You Save for An Engagement Ring?

Posted on Tuesday, April 7th, 2020 at 9:58 am by Josh

If you’re thinking about popping the question soon, you probably have some questions. For instance, you might be wondering how much money you need to save for an engagement ring. Are there any rules or guides that can help you decide how much you should spend? 

Here are tips to help you along your ring-buying journey.

What’s the Two-Month Salary Rule: Where Did it Come From?

You may have heard it said that you should spend two month’s salary on an engagement ring. This is a “guideline” that is tossed around by many in and outside of the jewelry industry. 

The two-month rule originated with a marketing campaign in the 80s. DeBeers, the company best known for its tagline “A Diamond is Forever,” introduced the idea that men should spend two months of their paychecks when buying an engagement ring. This principle has endured, although many no longer follow it. 

Choose What's Best for You

You might want to follow the two-month rule. Or you might not want to. 

Here’s the truth of the matter: no one — not your friends, parents, future in-laws, or jewelry store consultants — no one can tell you how much to spend on your engagement ring. The choice is entirely up to you. 

You are the one who is proposing. You are the one who knows your partner. You know her likes and dislikes, as well as her hopes, values, and expectations. And you are the one who needs to be excited about what you are presenting to your future bride. After all, you’re going to see it on her finger for decades to come.

You are also the only one who knows your financial situation. You know what you can afford and what you’re comfortable spending. You don’t have to follow the “two-month salary rule” by any means. You can spend more or less if you’d like. What’s more important is finding a ring that you’re excited about and that she is going to love. 

Financing Options for Engagement Rings

An engagement ring is one of the most significant purchases you will ever make. Many people opt to finance their rings over time to make it more manageable. Again, this is another decision that you have to make for yourself.

At Koser Jewelers, we offer some fantastic financing options for qualified customers, including interest-free plans. Call or stop in and ask us about current promotions that can help you with the purchase of your (her) dream ring! 

 Koser Jewelers is a one-stop-shop for all your engagement needs. 

You know your partner. We know jewelry. At Koser Jewelers, we believe the perfect ring can be confirmed with two questions: “Will she love it?” and “Are you proud of it?” In the end, those two answers are the only thing that matters when it comes to your engagement ring. 

If you’re thinking about proposing soon, we would love to chat with you about it! Call or stop in soon! 

Contribution by Mandy Youtz