Friday, 18 March 2011

How much to spend on an engagement ring?

I am often confronted with this question by young men getting engaged. My answer, whatever you are comfortable with. You should not go into debt to buy this, but if you must, I would suggest an amount you can pay back within 12 months without bothering your lifestyle.

Ladies, if your man has just asked me this question, it is a good sign. It means they care(they don't want to be stingy) but they are also being careful.

Guys, there is no hard and fast rule. Just spend what you feel comfortable with. Also, by buying online with diamondport you will save thousands by not paying the large retail mark up that a bricks and mortar store needs to charge to cover their overheads.

IF you need a comparitive figure I have broken it down:
  • 20 -29 yo on an average income spend $3000 - $6000
  • 30-39 yo on an average income spend $6000 - $10'000
  • 40+ spend $10'000 +
If you are a high wage earner you can add $5000 to my limits. These are just ball park figures and you can spend more!....or less.....

Happy shopping!