How Much Should You Spend On Engagement Jewelry?

Your engagement day may be the happiest time in your life. Knowing that you're going to spend the rest of your life with the person you cherish the most is an amazing thing. However, beyond the fanfare of such events, there's also the inescapable reality that engagements cost a lot of money. The ring, in particular, is likely to cost a significant amount of money.

Due to the high cost associated with buying engagement jewelry, it's important to ask just how much you should spend on a ring or any other jewelry for such an occasion.

Spend Only as Much as You Can Afford

The one mistake you should not make when buying any engagement jewelry is to spend more than you can afford. There's nothing attractive about spending thousands of dollars on jewelry only to spend the rest of your marriage trying to pay off the debt.

Before you decide to spend any amount of money on the engagement jewelry, take a look at your finances and try to figure out what can fit into your budget. If possible, try saving money for a few months to avoid stretching your monthly budget when it's time to buy.

Avoid the Two Months' Salary Method

In the past, the standard was for the prospective groom to spend the equivalent of two months' salary on the engagement ring. However, this is a tradition that is outdated. For starters, modern couples face many challenges that make this approach unsuitable.

Young couples have to contend with low starting salaries and crippling levels of student debt before anything else. The same couple will have to start planning early how they're going to pay for their future home after they get married. Expecting people in such a position to spend two months of their salary on jewelry is out of touch with reality.

Explore Affordable Buying Solutions

The advantage of the times we live in is that couples can now get better deals on engagement jewelry than was possible a while back. In the past, many people had to go with whatever their nearest jeweler had available. This limited their options and prices.

However, it's now possible for you to get the same quality of ring while spending a lot less money. Options such as purchasing engagement rings online have helped many people to save money on engagement jewelry. Ensure that you're dealing with a reputable seller to avoid getting scammed.

For more information, reach out to a local jeweler.