Choosing an engagement ring is a major milestone and investment, but determining how much to spend can feel confusing with so much advice out there. At Ecksand, we believe this decision is deeply personal, and your budget should reflect your unique story and values rather than simply following tradition. Here’s our guide to setting a budget that fits you, complete with insights into selecting a ring that reflects both your love and lifestyle.
The two-month salary guideline originated as a marketing suggestion, but it has become a common belief in ring budgeting. However, it doesn’t factor in individual financial situations or evolving values. Spending two months’ income may be possible for some, but remember that you’re not bound to this formula—what matters most is finding a ring that reflects your love without compromising your financial health.
In North America, the average engagement ring budget is estimated at around $6,000. This average can provide context, but it’s not a benchmark everyone should follow. Your budget should reflect your personal finances, goals, and relationship, not an industry average that doesn’t consider individual circumstances.
Every couple is unique, and so are their values. Some prioritize a more minimal design, like a timeless solitaire engagement ring, while others might seek ethically sourced materials or vintage-inspired settings, like a three-stone engagement ring. For couples who prioritize ethical sourcing, selecting a ring crafted with responsibly sourced materials can add an extra layer of meaning. The engagement ring industry has evolved, and many are choosing a path that aligns with their lifestyle and financial situation. At Ecksand, we only offer engagement rings handcrafted with ethically-sourced materials and recycled gold or sustainable platinum - all created by seasoned artisans in our Montréal atelier.
While an engagement ring is a significant purchase, it shouldn’t overshadow other financial goals. Evaluate how this investment fits within your overall financial picture. If you’re planning a wedding, honeymoon, or even buying a home, consider these upcoming expenses as well.
Bigger doesn’t necessarily mean better, and focusing on the quality and cut of the gemstone can create just as much visual impact. High-quality gemstones and diamonds, even if smaller in carat size, can be incredibly eye-catching and unique. Take for instance this stunning Rosebud Engagement Ring set with a 0.10 carat center diamond.
More couples are opting for non-traditional gemstones, such as sapphires, emeralds, and lab-grown diamonds, which can offer both beauty and value. Unique shapes like oval, marquise, or emerald cuts can also create a distinctive look without inflating the cost.
At Ecksand, we offer the option to personalize your ring with custom settings, shapes, and gemstone choices, allowing you to create a one-of-a-kind piece that reflects your story. Custom rings can be designed to fit within your budget while capturing your unique style and commitment. If you're looking for inspiration, check out our custom ring gallery, or start with an Ecksand design and personalize it to your liking with our diamond ring builder.
Ecksand’s dedication to ethical craftsmanship means every ring is made with responsibly sourced gemstones and sustainable practices. With our focus on quality and timeless design, you can be sure you’re investing in a piece that will last a lifetime and hold deeper value. Each ring is meticulously crafted by skilled artisans, ensuring that it’s not only beautiful but also built to withstand the test of time. Learn more about Ecksand.
There’s no definitive amount to spend. While two months' salary is a common suggestion, your budget should reflect what feels right for your financial situation and lifestyle. Many people find that spending 1-3% of their annual income feels appropriate.
On average, many people spend around $6,000. However, the “average” varies widely and shouldn’t be a standard for everyone. Prioritize what aligns with your personal and financial values.
Yes, absolutely. Stunning rings are available in every price range. Consider high-quality, responsibly sourced gemstones or more affordable options like lab-grown diamonds. Unique settings and alternative stones can also enhance a ring’s appeal without a high price tag.
Quality over size is often recommended, as a well-cut diamond with clarity and color will be more brilliant. A smaller, higher-quality diamond typically has a more striking appearance than a larger, less refined stone. Learn more about the Diamond 4C's.
Lab-grown diamonds are an excellent choice for those seeking an ethical, high-quality gemstone at a lower cost. They are chemically identical to natural diamonds and offer a sustainable, beautiful alternative. Read more about Lab-Grown Diamonds.
If your partner has dropped hints or shown interest in a specific style, it’s helpful to consider those preferences within your budget. Customization options at Ecksand can also help you achieve a unique ring that captures your partner’s taste. Contact our experts for advice or design a custom ring.
Financing an engagement ring can be an option, but only if it fits within your budget and long-term financial goals. Avoid high-interest debt that could overshadow future financial priorities, and choose a comfortable payment plan if financing is necessary. Ecksand partners with Affirm for financing plans that work for everyone. Learn more about financing with Affirm in our Frequently Asked Questions.
Choose jewelers, like Ecksand, who prioritize ethical sourcing and sustainable practices. Ask about the origins of the gemstones and materials to ensure your ring is crafted with environmental and ethical standards in mind.
Shopping for an engagement ring is a personal journey, and there’s no set amount you “should” spend. By focusing on quality, values, and design preferences, you can find a ring that tells your love story without compromising on your financial goals. At Ecksand, we’re here to help you make a choice that reflects your commitment beautifully and ethically. Book a free consultation with our experts today.
In a world where choice is plenty and quality is key, finding the perfect diamond for your dream ring can feel like searching for a needle in a haystack. Enter Ecksand's innovative diamond ring builder
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