How to Discuss Your Engagement Ring Budget With Your Future Spouse

A newly engaged couple looks in a jewelry store at the diamond engagement rings

One of the biggest challenges when investing in an engagement ring is deciding how much you are willing to spend. How involved will both of you be in the selection of the engagement ring? Depending on how comfortable you are with your future spouse, this conversation can be difficult.

Here are a few tips on discussing the budget for the engagement ring.

Choose a Comfortable Setting to Discuss Your Ring Budget

Choosing a comfortable setting where you and your partner can meet and discuss your engagement ring budget is a good idea. A coffee shop or a small café where the conversation can stay quiet and intimate is a good choice. Making a date out of this awkward discussion can take the stress away from the situation. Staying at home and making a home-cooked meal can make it easier to discuss your engagement ring too. After planning a comfortable rendezvous with your future spouse, you can easily transition into the discussion about the engagement ring budget.

Work Together to Choose an Engagement Ring Budget

While both of you may have different ideas of how much an engagement ring should cost, comparing your estimated price ranges is the first thing you should do. Researching different types of rings and their price ranges can help you decide what ring best fits your lifestyle and finances.

An engaged couple decides on how much to spend on a diamond engagement ring

The next step in the engagement ring selection process is to analyze all the different styles of rings you might be interested in purchasing. Many men are usually pretty obvious on how much they want to spend on an engagement ring. Getting past the discussion on the ring budget will make it much easier for you to work with your future spouse on the ring planning. Being able to work together and communicate on your purchase plans for the ring will help you choose the perfect ring that you both will appreciate. As a future married couple, both of you should be able to visit jewelry shops together and have equal input on important aspects of the ring such as size, price, and affordability.

Make the Financial Decision Together

After visiting jewelry stores together and deciding on an engagement ring, you should be able to sit down and discuss your financial decision freely. There is no need to spend thousands of dollars on a ring that will just put both of you into debt. While there are many types of engagement rings for sale at expensive jewelry stores, there are also some budget-friendly jewelers that offer financing programs and still offer great quality engagement rings.

Keep Your Other Expenses in Mind

While discussing the price of your engagement ring, there are other financial responsibilities you should keep in mind, such as paying off student loans, the outstanding mortgage on a house, and future car payments. Before you make a final decision on which ring to choose, make sure your long-term financial stability is at the top of the list of priorities.

During a visit to a jewelry store, and engaged couple picks out a diamond engagement ring

Average price for an engagement ring varies from $3,000-$6,000 to exponentially higher. You can decide on your budget for the ring after you and partner have discussed your financially stability and how much each of you is willing to contribute for the purchase of the ring. Remember, engagement rings can always be enhanced down the road if you wish. When you and your soon-to-be spouse select the perfect engagement ring, it will be something you will both appreciate for a lifetime together!

Find Amazing Vendors