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How Much to Spend on an Engagement Ring
Advice on How Much to Spend on an Engagement Ring
Everyone knows about the tradition of spending two months salary on an engagement ring but how do you really know how much to spend on an engagement ring? There are certain factors that need to be taken into consideration when you purchase an engagement ring and the two month tradition may not apply to you.
Los Angeles Jewelry District
How Much to Spend on an Engagement Ring - Wholesale Prices
If you have a family friend that you are purchasing the engagement ring from, you might be getting a wholesale price. In this case one month or even less than one months salary would be enough.
If you have another way that you can get a wholesale price on an engagement ring, compare what you would pay at a commercial store for a similar ring and that can help you determine how much to spend on an engagement ring.
If you have a jewelry district in your state, taking a drive over could save you thousands of dollars. There is a misconception that ALL wholesalers won't sell directly to the public, but many will.
Consider Your Budget When Deciding How Much to Spend on an Engagement Ring
Please don't think about celebrities or what the media says when determining how much to spend on an engagement ring. You have to first and foremost consider your budget. Take your current expenses and anticipated expenses into account.Other things to consider are...
- Credit history
- Earning potential of both individuals
- Possible new household
- Wedding expense
Some of these bullet points may or may not apply to you but they are food for thought when considering how much to spend on an engagement ring.