ESSENTIALS: SETTING YOUR BUDGET
As a part of your initial research and preparation before you start looking for an engagement ring, you should think carefully about your budget. Knowing your limits and having a rough idea of what you would like to spend will help you to whittle down the options and allow you to find a beautiful piece that you know you can afford.
Over the years many myths have evolved about how much should be spent on an engagement ring – some say two month’s salary, others say three. The truth is, this was dreamt up by an advertising company not long after World War II, to boost the sale of diamonds. While it is worth buying the best you can afford (after all, your wife will be wearing this ring for the rest of her life), the gem and band you choose needn’t bankrupt you! There are no hard and fast rules, and if one person feels happy to save up a substantial sum, another will be looking for something simpler and more cost-effective. Think about how much you can seriously put aside, and go from there.