How much did you spend on your engagement ring?

Levo

Member
Jan 4, 2013
175
0
Hi Ladies, I have been looking for an engagement ring and saw this ring that has a pave setting with a 1.5ct fancy light yellow center stone for $9000. I like the ring, but I think it's too much for me to spend since I'm in my early 20s. ( I don't plan on getting an upgrade in the future. Looking for a ring is a lot of work.:P ) What do you think and how much was your engagement ring if you don't mind telling.
TIA for any comments.
 
I don't think it is an age thing really more of an income and savings calculation. Are you buying it or is your fiancé? I'm confused. Anyways I'd assume you have at least 100k saved to be spending that and earn quite a bit. Mine was around $7,000 and my fiancé have six figures saved.
 
I heard you should stay within the range of your 3 months salary, but it is not a requirement:smile: Personally I believe that the center stone should be no less than 50 points, otherwise I'd choose a stone other than the diamond. The most important part is to choose the center stone shape that your fiance wants and if you do not want to ask, the classic cut is the best. I'd also steer clear of tacky jewelry stores and go to areas where there are clusters of jewelry stores and look into purchasing the stone separately and then finding the setting for it. Make sure you put the stone on a white paper so you could detect any yellow in it - you do not want yellow, as visible yellow implies J color or worse.

Go for H-I color which doe snot have visible yellow and try VS1-VS2 clarity which is a good clarity but won't rack up the price too much.
 
I don't think it is an age thing really more of an income and savings calculation. Are you buying it or is your fiancé? I'm confused. Anyways I'd assume you have at least 100k saved to be spending that and earn quite a bit. Mine was around $7,000 and my fiancé have six figures saved.

Since income and savings typically increase dramatically with age, it is indirectly an age thing. I can see $9,000 being a lot for an early 20-something to be able to spend on a jewelry purchase, especially because you're smack in the middle off the age group where you arguably have the most competing large priorities for your money (ie saving for your first house, investing in a career worthy wardrobe, student debt, building savings/emergency fund, a grown up car, etc). Also, I don't know many people in their 20s, and especially not in their early twenties, who have six figures in savings.

When we got engaged, my husband was 27, had around six figures saved (we were also house hunting), and spent 16k cash on my first engagement ring. At the time, this seemed like a fortune. I remember him telling me that he was also considering one with one color level better but that it was just over the 20k mark once tax was included, and I very seriously told him that that would have been WAY too much to spend and that I'd have honestly been upset with him.

OP (assuming you're the bride to be??), get what you/your fiance can comfortably afford. If that price seems too expensive, keep shopping. But don't necessarily rule out an upgrade just yet. Chance are your perspective will change greatly between now and 20 years from now.;)
 
Not the best way but let's just say you have enough credit to get yourself a 1 year interest free credit card to buy the $9000 ring. If you can split up monthly payments to cover the cost and not go over the one year grace period, then you can afford it (if you really want to go about it this way).

Sometimes in life, you can't and may not want to do all that cash up front.
 
I don't think it is an age thing really more of an income and savings calculation. Are you buying it or is your fiancé? I'm confused. Anyways I'd assume you have at least 100k saved to be spending that and earn quite a bit. Mine was around $7,000 and my fiancé have six figures saved.
thank you for your input. My fiancé will buy the ring for me. He will graduate next month, so he doesn't have a job yet. But he has enough savings to pay for the ring (not 100k though).
 
I heard you should stay within the range of your 3 months salary, but it is not a requirement:smile: Personally I believe that the center stone should be no less than 50 points, otherwise I'd choose a stone other than the diamond. The most important part is to choose the center stone shape that your fiance wants and if you do not want to ask, the classic cut is the best. I'd also steer clear of tacky jewelry stores and go to areas where there are clusters of jewelry stores and look into purchasing the stone separately and then finding the setting for it. Make sure you put the stone on a white paper so you could detect any yellow in it - you do not want yellow, as visible yellow implies J color or worse.

Go for H-I color which doe snot have visible yellow and try VS1-VS2 clarity which is a good clarity but won't rack up the price too much.
thank you~
 
Since income and savings typically increase dramatically with age, it is indirectly an age thing. I can see $9,000 being a lot for an early 20-something to be able to spend on a jewelry purchase, especially because you're smack in the middle off the age group where you arguably have the most competing large priorities for your money (ie saving for your first house, investing in a career worthy wardrobe, student debt, building savings/emergency fund, a grown up car, etc). Also, I don't know many people in their 20s, and especially not in their early twenties, who have six figures in savings.

When we got engaged, my husband was 27, had around six figures saved (we were also house hunting), and spent 16k cash on my first engagement ring. At the time, this seemed like a fortune. I remember him telling me that he was also considering one with one color level better but that it was just over the 20k mark once tax was included, and I very seriously told him that that would have been WAY too much to spend and that I'd have honestly been upset with him.

OP (assuming you're the bride to be??), get what you/your fiance can comfortably afford. If that price seems too expensive, keep shopping. But don't necessarily rule out an upgrade just yet. Chance are your perspective will change greatly between now and 20 years from now.;)
Thank you~ You are so lucky. My fiance really wants to get me a beautiful ring to start our marriage, so he doesn't care about the price as long as it's under 10k, but I feel guilty for throwing so much money on a ring.
By the way, I saw your post of your engagement ring and you have a beautiful ring.
 
Not the best way but let's just say you have enough credit to get yourself a 1 year interest free credit card to buy the $9000 ring. If you can split up monthly payments to cover the cost and not go over the one year grace period, then you can afford it (if you really want to go about it this way).

Sometimes in life, you can't and may not want to do all that cash up front.
thank you, but I don't want to do monthly payment, I like to pay upfront for everything.:biggrin:
 
Well, I would not buy something you cannot afford outright. I would charge it and pay it off in one month in one payment, so not only do you get points for the purchase, you have protection on your purchase. DON'T PAY CASH if you can avoid it. Wire transfer is ok in a few instances, because you can still get some prtection, for a few decent vendors who will still refund you. But credit card (not opening new) is the best and safest because then you have recourse.

There's nothing wrong with buying something small, or even just a plain or diamond band now, and when you guys are more established later getting a traditional eng ring then. Just don't go into debt.

What do you envision and want, and maybe we can help you find something close to working in his budget? If you get a pave setting you will eat up a lot of your diamond budget, so I would say to focus the money on the best diamond you can get, and get the plainest, simplest setting you can now, and closer to your wedding or even an anniversary, get a set that you love and reset the stone into that. That way you can focus the budget there now, and save for a setting you love.
 
I don't think it is an age thing really more of an income and savings calculation. Are you buying it or is your fiancé? I'm confused. Anyways I'd assume you have at least 100k saved to be spending that and earn quite a bit. Mine was around $7,000 and my fiancé have six figures saved.

Maybe I come from a socioeconomic status that is outside of the "norm" here at TPF but I have NEVER known anyone in their 20s (much less early 20's) that have 100k in the bank.

OP: spend as much as you can afford in order to pay it off in 2 months time while not draining your life savings to do it or cashing in your 401k.

I caution anyone just starting out from accumulating unsecured debt if they can help it.
 
thank you for your input. My fiancé will buy the ring for me. He will graduate next month, so he doesn't have a job yet. But he has enough savings to pay for the ring (not 100k though).

My engagement ring was free (it is a family heirloom from his side of the family). If I were you, I would be very careful about buying an expensive ring. Like you, my fiance is graduating next month and is currently looking for a job. I'm the one with the savings though. I think it's very important for everyone, especially a couple just starting out to be careful with their money. You'll never know when an emergency will happen and you'll need every penny you can get.

Before I knew I was getting an heirloom ring I was looking at rings that cost around $7,000-$13,000 which I knew was going to be impossible for us at this point in time. I thought about getting an inexpensive delicate ring as my engagement ring and later when we had more money I could get one of the other rings I was looking at and the small ring I bought before could be a spacer between my rings.

I think if you write everything out, how much the ring costs, how much money you have in savings, how much money both of you are making (if any), the cost of living, and some money saved for an emergency. After doing that if you have enough money in the budget to buy the ring than you can do that.
 
I can't remember what we spent on my e-ring (got married in 1997). I would pick out the same ring again even though we make more $ now. My wedding band is a plain gold one and personally, I would have been happy with just that. I love wearing it by itself. I like the simplicity of it.

I think you should buy what is most "you" regardless of price point. Granted, you need to be able to afford it as well, but seriously, in the long run, you'll be most happy with getting what best suits you personally.

I remember we upsized the center stone on my ring - not only in size but in quality - but once we saw it in the ring (setting) compared to the other diamond, it was a no brainer. It cost a smidge bit more than what we wanted to spend but it was worth it.

We picked out the ring together obviously. My husband proposed with one of his sister's costume jewelry rings. It was fun picking out the ring together. We picked out his ring (although he lost it in the ocean on our 10th anniversary trip - boo!) as well while we were there.
 
I actually got a second ring with a similar style and am not sure which one looks best. I could always change the clear one to a yellow diamond too. Any opinions on the settings?

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