Picking Out An Engagement Ring For Any Budget

6 06 2013

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Image via Flickr creative commons from Randi Deuro

If you are planning to propose to your beloved, it’s likely that you will want to impress them with the perfect engagement ring. Many people assume that engagement rings cost a fortune, and as the saying goes, a man is supposed to spend, on average, three times his monthly salary on the engagement ring for his bride-to-be. Despite that, many wedding traditions have now been pushed aside. Ladies no longer have to wait an agonising number of years dropping hints to their boyfriends about marriage proposals, as it is common practice for women to do the asking these days. Proposals aside, if you are worried about the cost of an engagement ring, there’s really no need to be. Here’s how to pick out an engagement ring for any budget.

The three month rule

Men who are planning to propose to their girlfriend may very well agonise over the rule to spend at least three month’s gross salary on engagement rings. Well you have De Beers to thank for that when the notorious diamond company launched its “a diamond is forever” campaign back in 1947. However, it is widespread thought nowadays that this rule is a little old fashioned and unrealistic. After all, if a man spends three month’s salary on just the engagement ring, how much is the wedding supposed to cost?

Establish a budget

The first thing you should consider before you buy the ring is just how much money you have to spend. You should try to establish your budget before you enter the jewellers as this will help you not to be coerced into making a purchase that you cannot really afford, just because it looks good. Although the engagement ring itself is a special purchase, you need to ensure that you budget with the overall wedding cost in mind. There’s little point spending a fortune on a ring if you can’t afford the wedding that comes with it.

Determine how you will pay

There are many different payment options available when it comes to choosing how to pay for your purchase.

–          Savings: a good way to budget for the cost of a ring is to save up for several months in advance to proposing. This way will also save you from having to take out a loan or from having to pay a credit card bill later on down the line when you’re supposed to be budgeting for the wedding.

–          Cash back credit card: this way you will benefit from protection should there be a problem with the ring and you have to return it. You will also earn some money back from the card company for your purchase, and depending on how much you’ve spent on the ring, this could add up to a fairly large amount of money.

–          0% credit card: if you can’t afford to pay for the ring immediately and you also don’t have any savings, you could use a 0% purchase credit card to help you spread out the cost of repayments.

Know her style

You may think that the showiest and most expensive diamond ring will be a sure fire way to get you the girl of your dreams, but in actual fact, choosing the wrong type of ring may be your biggest downfall in the relationship yet. The reason why so many men find it difficult to buy a ring for their girlfriend is because her reaction to the purchase is of utmost importance. For example, if your girlfriend is really into the vintage look and you buy her a contemporary engagement ring, it signifies that you pay no attention to her individual sense of style and to what she likes. If you are still unsure of her type of jewellery, you could take a look at the other types of jewellery she usually wears. If she prefers something dainty and understated, choose something similar for the engagement ring. After all, she will be wearing that ring for a long time.

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