Logo
header shadow

Determining Your Engagement Ring Budget

Browse Lab Diamonds Rings

It's crucial to evaluate the various engagement ring styles available while establishing a budget, considering what is most important to you and your partner. When balancing personal significance with design preferences, ensure you assess multiple factors – such as optimizing value, different payment methods, and more.

engagement ring cost

Typical Engagement Ring Expenses

The traditional idea of spending three months' salary on an engagement ring is no longer a strict guideline. Many couples are adopting a more comprehensive approach to their finances and preferences when setting a budget. While trends influence average ring costs over time, the typical carat weight for engagement rings is approximately 1.5 carats.

ring cost considerations

Setting the Right Price for an Engagement Ring

Begin by establishing a budget range based on your financial situation to gain a general idea of your options. It's essential to understand your partner's preferences and expectations, focusing on what they desire in a ring regardless of the cost — whether through open discussions, browsing together, or consulting with their close ones. The significance of the ring is particularly important — for example, your partner might prefer reusing a family diamond or opting for a different style altogether. Additionally, you can consider purchasing an initial ring with a diamond alternative that can be upgraded in the future while saving for a higher-quality or custom-designed ring.

Browse Lab-Created Diamonds
vintage engagement rings

Classic Vintage Styles

Classic-inspired engagement rings draw from timeless romance by incorporating elements such as intricate detailing, hand-crafted designs, or multi-stone settings that represent the past, present, and future. Elaborate features, like step-cut diamond accents, set these styles apart from modern or contemporary designs that typically showcase more streamlined and minimalistic lines.

Tips for Budgeting Your Engagement Ring Purchase

Maximize your engagement ring budget with these strategies.

  • When selecting a diamond, understanding your partner's priorities will help you decide which of the 4 C's to emphasize and which to lower in importance. Brilliance, determined by cut and color, are often highly valued and may need to be prioritized over size. A diamond's shape, depth, and symmetry also influence its apparent size. Elongated shapes (like oval and emerald) seem larger than round shapes because they extend more in length as well as depth.
  • Opt for white gold instead of platinum for the ring band, as platinum is the most costly precious metal option. White gold offers a luxurious shine in cool tones, resists tarnishing or corrosion, and is suitable for fine, detailed designs.
  • Be strategic with the setting's intricacy to achieve maximum sparkle without overspending. Smaller accent diamonds can provide significant brilliance without the higher cost of larger central stones.
  • Choose naturally shaped diamonds that are less common, as they can be 20% to 30% more affordable than standard round diamonds. This allows you to select a larger size within the same budget.
  • Consider diamond sizes just below standard carat weight thresholds—often referred to as magic sizes—to obtain a diamond of similar appearance for a more budget-friendly price.
  • Lab-created diamonds, which possess identical chemical, optical, and physical properties to natural diamonds, are available at more competitive prices for the same size.
  • Explore diamond alternatives like moissanite and white sapphires for a diamond-like appearance at a lower cost.
  • Alternative ring designs are gaining popularity. Trends include rings without center stones, wider bands, and eternity bands encircled with diamonds—either worn alone or as part of stylish and personalized ring stacks.

Discover Additional Guides

4 C's of Diamonds Measuring Ring Size Birthstones by Month Setting Your Engagement Ring Budget 2025 Ring Trends Platinum vs. Gold Anniversary Gift Guide 2025 Jewelry Trends