How much should you earn to buy a ring?

General Rule: You should spend at least 2 months salary on the engagement ring. If, for example, you are making $60,000 per year, you should spend $10,000 on the engagement ring.

How much does the average person spend on a wedding ring?

In 2019, the average wedding ring cost for males was $510 and the average cost of a female wedding band was $1,100. According to the Brides’ American Wedding Study, wedding rings on average made up three percent of a couple’s wedding budget. Engagement rings made up 14 percent of the wedding budget.

How do you save money for a ring?

The Top Eight Ways to Save for an Engagement Ring

1. Do Your Research. The first step in saving for an engagement ring is to conduct thorough research.
2. Break It Down Month by Month.
3. Set up Automatic Transfers.
4. Stick to a Budget.
5. Skip the Other Big Purchases.
6. Save Lump Sums.
7. Look for Cheap Date Ideas.
8. Consider a Financing Plan.

Can you negotiate a ring price?

Negotiate You can negotiate on more expenses than you might think, and engagement rings are one of those things. Go when the store is quiet — jewelers don’t normally want to negotiate in front of an audience. Make sure the person you’re talking to has the authority to negotiate.

Is a wedding ring an investment?

It is as simple as this… any engagement ring with a large, high-grade diamond or gemstone is a true financial investment. It’s an investment that will appreciate over time and that you can appreciate day in and day out.

Do jewelers offer payment plans?

Most major jewelers offer financing plans, some of which feature 0\% interest for a limited period of time. For example, Jared offers interest-free financing for 12 months, or 12 months at 0\% followed by low-rate financing for six months. Kay Jewelers offers 12 months interest-free.