Let’s attempt to answer the age-old question of, “how much should I spend on an engagement ring?” There are many different answers to this but no one answer is the right answer for everyone. It truly comes down to a handful of factors and there is no clear-cut answer but rather several considerations you should make to determine what will be the best for you and your significant other.

 How Much Should You Spend On An Engagement Ring?

Photo Credit: Seeking Films

The popular 2-3 month salary rule is a great starting point but not the end all be all answer. Everyone’s financial situation is different and we believe that there is more to consider than just a fraction of your salary. We also want to emphasize that we don’t recommend compromising your financial situation for an engagement ring as that could lead to a strain in your marriage. We certainly don’t want that! It’s important that you also consider your take home pay after taxes, other investment income, outstanding debts such as student loans, and other unknown factors that might apply to your situation.


Another factor to take into consideration is her expectations. Her engagement ring will be the most important jewelry that she owns and it is something that she will wear for the rest of her life. No pressure! Knowing her hopes and dreams are extremely important in determining how much to spend on her engagement ring. If you haven’t spoken to her directly about this topic, make sure that you speak with her closest family and friends that you trust to find out exactly what she’s looking for. Perusing her Pinterest page, if possible, can also provide you with some great ideas! Once you know what style, diamond shape, and metal she loves, you can really dive into considering options at different price points that is perfect for her without breaking the bank.

Luckily, there are a few tricks to saving money when buying an engagement ring without compromising on look, quality, etc. For example, avoid round-cut center diamonds if possible as they are the most popular diamond shape by a longshot and will have a corresponding markup. Instead, maybe you can opt for an emerald or princess cut diamond. Also, buying just shy of the carat can shave off as much as 25% of the cost! This means purchasing a 0.99ctw diamond instead of a 1.00ctw diamond or a 3.99ctw diamond rather than a 4.00ctw diamond. Maximizing the measurements is another way to save some money on your center diamond. Carat measures the weight of a diamond and doesn’t always reflect how large the diamond appears. Focusing on the length and width measurements can allow you to purchase a larger-looking diamond at your price point. There are so many other ways to save some money on this important purchase so please visit a James & Sons store to work with one of our expert sales associates who will help you find your dream ring!

How Much Should You Spend On An Engagement Ring?

In the event that you need some assistance in making this all-important purchase, James & Sons offers special financing for our customers. We want each of our customers to be able to leave our jewelry stores with the piece of their dreams! Currently, we are offering financing with 60 equal monthly payments with a special rate of 9.99% APR!*


Now that you have a better idea of how much you should spend on an engagement ring, you can now #ProposeConfidently by selecting a stunning engagement ring from James & Sons that won’t break the bank. Visit a James & Sons store in Chicago, Orland Park and Schererville to find the engagement ring of your dreams!


*The Jewelry Advantage credit card is issued by Wells Fargo Bank, N.A. Special Terms apply to qualifying purchases charged with approved credit. The special terms APR of 9.99% will apply to the qualifying purchase, and 60 monthly payments equal to 2.1378% of the original special terms balance are required. The advertised terms are an estimate assuming required monthly payments are made on the payment due date; no other balances are currently carried or will be carried on the account; and no additional charges are or will be added to the account. Because your actual account activity may be different than the advertised terms. The special terms APR will continue to apply until all qualifying purchases are paid in full. The APR for purchases will apply to certain fees such as late payment fee or if you use the card for other transactions. For new accounts, the APR for purchases is 28.99%. If you are charged interest in any billing cycle, the minimum interest charge will be $1.00. This information is accurate as of 02/01/2018 and is subject to chance. For current information, call us at 1-800-431-5921. Offer expires [03/31/2022].