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How Much Should I Spend on an Engagement Ring?
There is no one right answer to the tough question: "How much should I spend on her engagement ring?" What we want to do here is provide you with a few guidelines to help you set a budget for a ring that makes you both happy. One classic guideline of engagement ring buying is to spend two months' salary. This makes sense for some, but it's not a hard and fast rule. We generally suggest you think about where you are socioeconomically, and what you're comfortable spending. What do the rings look like that her friends have? What about the wives of your colleagues and friends? Aim to propose with a ring that has a center stone which is not significantly smaller or larger than those you spot on the rings within your peer group. We crunched the numbers of our sales, and the average amount of money spent on an engagement ring across our three locations in Rockville, Tysons, and Washington, DC is about $7800. We have noticed that people in their very young 20s tend to pop the question with a ring that is less expensive (around $4,000) and people in their 30s and up, who generally have more money to spend, will spend five figures on an engagement ring. Did you know rings can be financed? We have several plans available to suit your needs. We hope this makes it easier for you to propose when your heart ready, rather than your checkbook. You can also always "grow" your center stone with us. Our lifetime diamond trade-up program means we will trade your Mervis center diamond at 100 percent of its original cost at any time for anything else. Upgrading that center stone is a marvelous gesture for those milestone 10th and 20th anniversaries, and is a great way to symbolize the thriving lives you're building together.