How much to spend on an engagement ring? This question is a rather hard one to answer.Depending on how much you have or want to spend would probably be the best answer. There is a huge range in pricing when it comes to diamonds. For an example you can find a 1 carat diamond for as low as under $1000 and as high as $7000. So once you decide what your budget is you can see whats out there. You want to look for the best balance of size and quality.
What about 2 months salary? Debeers came up with this in the 1980’s with the idea that your a woman was “worth” two months salary and it is an “investment” in her. Other slogans were “how can 2 months salary last forever.” Post 2000 it has been heard that the amount has raised to 3 months salary. All of this are Debeers way of influencing you to spend more.
This also does not take into consideration how much money you make. Median income in Texas is somewhere between $30k and $50k. So if we average that to $40 that would mean 2 months salary would be about $6,666. So what if you make $100k? That would put an engagement ring at about $16,666. Is that reasonable?
Reasonable is much less specific and is determined by the individual and the circumstances. For example, if you have a great job and make $75k, but have only been working for a year, two months salary may be a bit much. If that same individual has been working for 5 years, has a stable income, and has some money saved up that $12k price tag may not be a stretch. One may also take advantage of financing offered by the jeweler to lighten the load.
Financing or Lay Away? There are also ways that you can comfortably up your budget by considering applying for financing which most jewelry stores offer. Some even have interest free options which they can spread across a year or more for payment. If your not interested in financing and start shopping early enough some places have a lay away plan that may be better for you.They normally would require a deposit and then monthly installments for the balance.
If you browse HoustonDiamondOutlet.com you will see our average diamond setting runs between $1495 and $1995. Many of our rings are prices with a 1ct center diamond that runs around $2500. So a nice diamond ring with a beautiful 1ct diamond would set you back between $3995 and $4495. But such amount of money may be effortless for some people. So check out latest info about casinos because today it can be a great source of additional money. Of course, we also have a large selection of rings with larger and more expensive setting for those with higher budgets.
You want to choose options that best fit your financial situation and lifestyle. If you think you would want to eventually upgrade the engagement ring make sure the jewelry store has a reasonable trade in program. We here at Houston Diamond Outlet give you 100% trade in value if you purchase a loose diamond from us and decide to upgrade later on. Feel free to give us a call and speak to one of our diamond professionals. We are here to meet all your needs!
Houston Diamond Outlet
6222 Richmond Ave Suite 255
Houston TX 77057