Some couples cringe at the idea of engagement rings costing less than $1,000, while other couples refuse to consider anything over $1,000. Engagement ring prices vary widely, from simple, small rings with price tags under $100 to hefty designer creations using rare stones that may cost $1 million or more. How much a couple spends depends on what they feel comfortable with. For example, a groom-to-be may want to make a statement about how well he can provide for his future wife, and therefore he’d prefer to seek out more expensive rings. A woman who works with her hands frequently and knows the ring may become damaged, however, may prefer a more affordable ring that will not be as great a financial blow if it is damaged.
In general, spending either too much or too little on an engagement ring may make either individual feel intimidated, ashamed, or otherwise uncomfortable. The best way to resolve these problems is to discuss budgeting before purchasing the ring. Shopping within that budget rather than first finding gorgeous rings that may be far outside your current financial reach helps avoid disappointment and financial stress.
