There’s an old wife's tale that one should spend at least 3 months
wage on an engagement ring, but that answer is as outdated as
ever! The short answer is, whatever budget suits you! Here are a
few things to consider when deciding on how much to spend on
your significant others engagement ring.
Have a look online or in stores to get an idea of the average prices
of engagement rings and what prices they begin at. Some
jewellery stores have diamond engagement rings begin at as little
as €500 whereas others begin at €3000 or more!
Calculate how much you have to spend between your
income/expenses/savings and set yourself a budget. Stick to that
budget to save yourself from getting into a sticky financial
Your partner mentioned they love big engagement rings but you
haven’t got the budget for one, go for a cluster design or a halo
engagement ring. With these designs you get the illusion of a
much bigger ring because of the added smaller diamonds. This
means you get the look of a bigger ring, without the bigger price
If you are in a position to openly speak to your partner about the
type of engagement ring they would like then do. Have a chat
about how much you think you should spend on an engagement
ring. Some couples would rather spend less on an engagement
ring and more on other aspects of their lives. Other couples like to
go halves on the ring and even choose the engagement ring
Sometimes it suits some people to choose a ring on the lower end
of the price range for the proposal and upgrade to the real thing
at a later date. This way you can save for your dream engagement
Many jewellers these days offer payment plans to help with your
budget. These can range from flexible finance options to in store
instalment plans. Check with your jeweller to find a payment plan
to suit you.
Spread the cost of your Gear Jewellers Engagement Ring with
Have a chat with one of our Diamond Specialists here at Gear
Jewellers about any concerns you might have. Let us know what
styles you prefer and what your budget is and we can help find
the perfect engagement ring for you!
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