In 2023 How much should I spend on an engagement ring?

Traditionally, the rule was that you should spend two months’ salary on an engagement ring. Some would even suggest three months. In reality, it all depends on individual circumstances and financial situation. Spend what you can and what you’re comfortable with as there’s no point in going into debt before you’ve even wed your soul mate. Whatever type of design you want can be achieved for as little or as much money as you can afford. Pick a cut, such as an oval or marquise, that will make the gemstone look more prominent on the finger. Choose a cheaper lab-grown diamond rather than a mined one. Highlight a small central stone with a halo to add to the sparkle. There are always ways to keep the costs down and still purchase a unique engagement ring that people will admire.