If you want to know more about how much to spend on a Diamond Engagement ring in 2021, with engagement ring shopping tips, prices, and budget, this video is for you. Many people have asked me ‘how much should I spend on an engagement ring? Quite honestly, the idea of a 3-month salary is outdated, and in this video, I will go over some things I think need to seriously be considered when budgeting for an engagement ring in 2021.
The rule of thumb has always been that the man should spend at least two months' salary on an engagement ring. For example, if he makes $50,000 per year, he should be spending around $8000 on the engagement ring. But these days, that's not really the case anymore. There are lots of other factors to consider when purchasing an engagement ring for the lucky lady. In fact, a recent survey found that the average price men spent on an engagement ring were around $6000, regardless of income. And in 2021, the average budget for an engagement ring is between $3,000 and $5,000, which is definitely enough money to buy an incredibly beautiful engagement ring that she will love forever.
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As an added value, if you love White color metal always aim for Platinum made from 95% pure platinum and 5% Ruthenium being the best alloy for your jewelry, if you love Gold go for 18 karats is 75% fine gold and 25% metal alloys.
Avoid shopping for the price as the quality of the diamond will be lower than you deserve, set a budget range like 5-7k or 8-10k or any range that you are comfortable with. the most online platforms allow you to select your diamond and then the setting, be mindful that the lower price diamond that shows on the top of a specific carat weight and color clarity combination is also the lower quality, there are so many other factors that effecting the diamond's value that is not disclosed to you as an online buyer.
The basic rule, insist on getting a GIA grading report for any diamond over 1 carat, learn how to read the report (there is a tutorial video on my channel on How to read the GIA Grading report).
If you need assistance on reading a diamond report or any other advice feel free to text me or ask in the comment below to assist other shoppers in their quest to find the best value diamonds.
Best
Yair Shimansky
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