Cost Rule of Engagement Rings (2024)

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We understand that an engagement ring holds deep sentimental value for you as well as your partner, and it is but natural that you would want to give her a gorgeous ring as a symbol of your love and commitment. However, there is so much more to an engagement ring. The do’s, the don’t’s, the socially constructed rules, myths, beliefs…we could go on and on. But, today we are going to talk about the cost rules surrounding an engagement ring, and whether they are meant to be followed or broken.

1. The 3-Month Salary Rule:

So, what is the 3-month salary rule, you ask? This is one of the most popular engagement ring cost rules, stipulating that one must shell out the equivalent of 3 months’ gross or net salary for purchasing an engagement ring. For example, if a man makes $60,000 a year, he should spend $15,000 on an engagement ring! Fortunately, this myth is outdated. That’s right, you don’t need to follow this engagement ring price rule any longer. The three-month salary rule originated from a marketing campaign by the De Beers Diamond company in the 1930s that peddled the idea that true love and commitment could only be expressed if one spent a month’s salary on his wife’s ring. In the 1980s, that expectation grew to two months’ salary and eventually to three months’ salary. Phew! Thank goodness this trend has died over the years. Three months, 12 months, or just 1 month, how much you wish to spend on your engagement ring should be your prerogative.

2. The Age Factor:

Another engagement ring cost rule is to buy a good quality ring where the carat size is equivalent to the woman’s age. For example, if you’re going to get engaged to a 35-year-old woman, you must buy a 3.5-carat diamond engagement ring. Going by this logic, if one proposes to a 19-year-old, that’s 1.9 carats! These days, couples get engaged late because they prefer to focus on their careers in their early and mid-twenties; some even get engaged in their thirties and forties. So, does this rule sound rational to you? Imagine marrying a 45-year-old woman. It would require a 4.5-carat diamond ring and will cost you a fortune!

Cost Rule of Engagement Rings (2)

Best | Platinum | 3.97 carats

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Oval Sapphire Halo Ring with Diamond Accents

3. The Car Rule :

According to this engagement cost rule, the man must spend an amount equivalent to that spent on his first purchased car. It is a known fact that buying a car pinches your finances as it is a depreciating asset. If a man earning $80,000 a year buys a car worth $50,000, his fiance may demand an engagement ring worth $50,000. On the contrary, if a man makes $300,000 a year but drives a 10-year-old car bought for $3,000, then all one can hope for is a nice 0.25-carat engagement ring. If men follow this rule, they will end up blowing off their finances rather than saving up for future goals like buying a house, starting their businesses, or meeting other financial commitments. That said, if your partner invests in an expensive ring, it is best to buy insurance for an engagement ring. Always remember, the more expensive a ring for a woman’s engagement, the more money you need to shell out to insure it.

Cost Rule of Engagement Rings (3)

Best | Platinum | 1/2 carat

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Prong-Set Blue Diamond Solitaire Engagement Ring

How Much Do You Need to Spend on an Engagement Ring?

An engagement ring is a symbolic representation of one’s love and commitment in a relationship. The only rule for engagement ring costs is to follow your heart and of course, your budget. At the end of the day, mutual understanding between partners is more important than the price tag attached to an engagement ring. There are plenty of wedding-related traditions that couples are pressured to abide by because it is considered to be suitable etiquette, and these unrealistic expectations of how much to spend on an engagement ring could become a stress-inducing matter for many.

So, what’s the rule for engagement ring costs? Well, it totally depends on the couple. The ideal amount to be spent on an engagement ring depends entirely on your financial situation and personal preference. So, set a budget for the ring and spend wisely. The cost of an engagement ring also varies as per your partner’s taste in jewelry. It can go up and down depending on whether your partner is looking for a simplistic minimal ring or an extravagant gemstone studded one. You could find a wide range of options starting from as low as $119, going up to $56489. Say goodbye to those age-old rules on engagement ring prices and find a ring that speaks to you and tells your love story without burning a hole in your pocket.

At Angara, you can go in for a customized engagement ring, which gives you room to play with creativity and you can come up with your style and appeal, studded with not just diamonds or gemstones, but a whole lot of love too. Check out a plethora of stunning engagement ring options now! What’s more, you can also finance engagement rings using our Easy Pay installations and several other payment options. Your dream ring is just a few clicks away!


There is no compulsion to follow any specific engagement ring cost rule while buying an engagement ring. There, we said it, and it is true! Instead, plan on a balanced budget that’s comfortable for you and your partner, keeping in mind the affordability and how much you are willing to pay.


Do you spend 3 months’ salary on an engagement ring?

Spending three months’ salary on an engagement ring is outdated & no longer considered the norm. However, everyone’s expense patterns & priorities are different, so you could evaluate your lifestyle requirement & other major financial goals before deciding on how much to spend on an engagement ring.

What finger does an engagement ring go on?

As per the classic style, an engagement ring goes on the fourth finger of the left hand. The ancient Romans believed that this finger has a vein that is connected directly to the heart.

What is the rule for an engagement ring?

Industry experts no longer believe or abide by any 3-month or 2-month salary rule for buying engagement rings. Current trends in the bridal industry have seen the rise of rings that go beyond the traditional diamond ring options, extending to less conventional gems such as tourmaline, morganite, or aquamarine. You could even opt for customized rose gold metals or bands, which are unconventional but are as elegant and beautiful.

Cost Rule of Engagement Rings (2024)


Cost Rule of Engagement Rings? ›

One of the most infamous wedding etiquette rules revolves around how many months' salary one should spend on the engagement ring. It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse.

How much should a man spend on an engagement ring? ›

Most people believe you should spend at least two months' salary on your engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.

Do people actually spend 3 months salary on engagement rings? ›

Earlier, people spent their three-month salary on engagement rings as it was a popular notion. The cost of living back in the day was indeed much lower, and people could afford to spend 3 months' salary on a ring. However, times have changed and millennial couples don't generally follow this rule.

What is a realistic budget for an engagement ring? ›

You Should Spend Three Month's Worth of Your Salary on a Ring. "There is a long-standing cultural tradition of spending two to three months' salary on an engagement ring.

What is the golden rule for engagement ring prices? ›

The 3-Month Salary Rule:

This is one of the most popular engagement ring cost rules, stipulating that one must shell out the equivalent of 3 months' gross or net salary for purchasing an engagement ring.

What is the etiquette for the cost of an engagement ring? ›

One of the most infamous wedding etiquette rules revolves around how many months' salary one should spend on the engagement ring. It's known as the "three months' salary" rule, and it implies that a buyer should put three months of their salary toward a sparkler for their future spouse.

Is $20,000 too much for engagement ring? ›

According to tradition, the amount you choose to spend on an engagement ring should approximate the amount of your monthly salary times two. By this measure, anyone who earns $2,000 a month should be looking at models in the $4,000 range. For someone earning $10,000 a month, a $20,000 ring would be about right.

How much should I spend on an engagement ring if I make 100000 a year? ›

Three months' salary looks very different for different people. Think about it. If you make $100,000 a year, you're supposed to spend $25,000 on an engagement ring. If you make $200,000, the ring clocks in at $50,0000.

What is the 2 month rule for engagement rings? ›

You may have heard of the "two-month rule," which suggests you should spend two months' worth of your income on an engagement ring. While this may be what you have heard, the reality is that there is no set rule on how much money you should spend on an engagement ring!

Is $3000 a lot for an engagement ring? ›

Is $3,000 Enough for An Engagement Ring? Yes, $3,000 is definitely enough for an engagement ring. You can get a beautiful, high-quality diamond and a setting with this budget.

Is 2k too cheap for an engagement ring? ›

No, a $2,000 engagement ring is not cheap, and can be quite stunning. The quality of your ring depends on the diamond's cut and your setting, along with which vendor you choose. You can find high-quality budget diamond engagement ring through online vendors like Blue Nile and James Allen.

How big of a diamond can you get for $5000? ›

A $5,000 can get you a beautiful, high-quality diamond and setting. You can easily buy a 2-carat lab diamond or in some cases even a 2.5-carat lab-grown diamond ring with this budget. It all comes down to the quality of diamond that you choose.

Is a $10,000 engagement ring expensive? ›

Your $10,000 budget for an engagement ring sits above the average cost spent on rings.

Do couples buy engagement rings together? ›

Making the decision to get married together has also led 75% of couples to choose an engagement ring together, with 28% of these couples saying both people were 'very' involved in the process. Gone are the days of shopping for an engagement ring on your own—this 100-year tradition seems to be at an end.

Is $6,000 too much for an engagement ring? ›

Average cost of an engagement ring

In 2022, couples spent an average of about $6,000 on an engagement ring, according to The Knot 2022 Real Weddings Study.

Is $30,000 a lot for an engagement ring? ›

Diamond cut, weight, and quality are the biggest factors in an engagement ring's final cost. With a $30000 budget, you can easily find a ring with an impressive diamond of high color and clarity grades. However, the wide range of options available for this price may be overwhelming.

What is the rule for a man buying an engagement ring? ›

Traditionally, the man buys the woman's engagement ring without her present. However, it is becoming increasingly common for couples to purchase an engagement ring together or for a woman to choose her own ring. Buying an engagement ring for a man is no different. Ultimately, the decision is up to the couple.

Who pays for the guys engagement ring? ›

Tradition has it that each person pays for the other person's ring. So in a traditional wedding, the groom or his family would pay for the bride's ring, and the bride or her family would pay for the groom's ring.

Is $2,500 a lot for an engagement ring? ›

It's true an engagement ring budget of $2500 is more modest than the median amount spent on diamond rings. While the national average cost of an engagement ring may be higher, everyone's situation is different and it is important to stay within your financial comfort zone.

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