When you’re sure that you finally found the one, there’s so much you need to figure out. One is how you’ll make your proposal the highlight of your significant other. This brings on some pressure and a lot of excitement as you navigate the process.

One of the most important things in an engagement is the ring. It plays a big role in solidifying your intentions and plans. With this in mind, you may be wondering how much it would cost you to get a quality one.

What is the Average Cost?

When it comes to determining how much you should spend on an engagement ring, a lot of variables come into play.

In a study done for the Brides American wedding, they found that in 2018 the amount spent on engagement rings averaged $7829 while in 2020 it decreased to $3756.

This is an average which goes to show people will either spend more or less of the stated amount. The price of the engagement ring will vary depending on.

Size of Stone

One of the most determining factors when it comes to price is the center stone you choose to use. Diamonds are the most glamorous and appeal to every woman’s heart.

When choosing your stone, you need to consider the size you’ll be working with. Prices will increase and decrease depending on how big or small you want your stone to be. Keep that in mind when fighting out what to get.

Design of the Ring

Rings come in different shapes and unique designs depending on your personal preference. The most customizable part of the ring is the band where you can experiment with.

You can add stones all around, use a halo design, or have it engraved with a special message for your loved one.

These additional features will add to the overall cost incurred when getting your engagement ring.

Brand of Choice

Big brand names will come with an added cost to the engagement rings you choose to get. With this in mind, you need to consider which brand suits you and get a quotation.

If you don’t want to spend too much go with a brand that is not so well known but also assured quality. However, if you want to splurge a little get a ring from a recognized ring connoisseur.

Your Partner’s Preference

A lot of times people forget to consider what their significant other would like or prefer. Pay attention to some of the things they admire and how they speak about engagements and weddings.

You’ll find that some ladies would prefer getting a simple ring and rather splurge on the wedding.

Metal of Choice

There are different metals to choose from for your engagement ring and they also come with varied weight. This will significantly affect the price of your ring depending on the metal you choose.

Financial Status

The amount you choose to spend on your engagement ring will also depend on your financial status. What budget are willing and comfortable to work with. There is quality for every budget which means you will definitely find something that works for you.

How to Minimize the Cost of Your Engagement Ring

Given all the factors that come into play when choosing a wedding ring, you may also decide to reduce the cost incurred by trying the following tips.

Choose a Different Stone

There are beautiful Diamond alternatives like white sapphire and others that you can use for your center stone. These stones will significantly reduce the price of your ring but also excuse elegance and class when used.

Embrace Antiques

In most settings, the use of an antique ring works perfectly as an engagement ring. This is especially a great thing to consider especially if you have a ring that is passed down through generations.

Additionally, there are beautiful diamond antique rings that you can take advantage of. Keep your partner in mind as you choose the ring you’ll propose with.


There is no set amount of how much you should spend on an engagement ring. Tailor this experience to your specific needs and the budget will present itself.