How Much Is The Average Engagement Ring?

How Much Is The Average Engagement Ring?

According to a wedding study on, couples spent an average of $3576 in 2020. That is a significant decrease from the average amount of $7829 that couples spent in 2018 according to the same study. Is that truly how much you have to spend to bring your proposal over the top? 

Surely you can’t put a price on finding the person that you want to spend the rest of your life with. From romantic dates to the butterflies in your stomach, to that once-in-a-lifetime proposal, some things just don’t have a price. But what does have a price, and a pretty high one at that, is an engagement ring. Thankfully, the number is not the same for everyone and there are different factors to consider when shopping for that special ring. 

Make A Budget And Stick To It

Everyone spends a different amount on engagement rings. It all depends on your personal situation and what your partner likes in terms of rings. It might be easy to purchase something that is within your budget but in order to make a successful purchase, you have to create a budget. 

What Determines The Cost

The cost of your ring is determined by different things including the size of the stone and the specific cut of the diamond that you are looking for. There is always a way to find a ring that fits within your budget though. While quality diamonds are more expensive, there are still beautiful diamonds out there that may not meet quality standards according to the 4Cs. These diamonds are more likely to fit within your budget and still provide a beautiful ring for your partner. 

How To Find A Less Expensive Option

Alternative Stones

Sure, diamonds are a girl's best friend, but you might not be able to afford diamonds. Diamonds are the most expensive stone but don't be discouraged. There are plenty of other more affordable stones that you can find that will still impress your partner. From sapphires to emeralds, all of these stones look beautiful on engagement bands. 

Lab Grown Diamonds

They might not be the first option for many people, but lab-grown diamonds have increased in popularity. Not only are they real diamonds but they also have pretty high grades on the 4C’s grading system. These quality diamonds can go for much more affordable prices, giving your partner exactly what they want without breaking your budget. 

Where To Find Engagement Rings

Mervis Diamond is the perfect place to shop for our engagement ring. Whether you are looking for something in a certain price range, or have a specific style in mind, we definitely have the one for you. Enjoy chatting with our experienced staff who can work closely with you to find an engagement ring that is perfect for both your partner and your wallet. Through Mervis Diamond, you have many options for engagement rings so be sure to stop by to find your partner's new accessory.