How Much Should You Spend On An Engagement Ring?

The diamond industry wants men to believe they should spend three months’ salary on engagement rings, but that’s just silly. Still, it’s tough to find a more reasonable measuring stick as to the appropriate amount to spend on such a bauble.

The recently engaged author of Well-Heeled Blog is engaged to a wise fellow who has declined to reveal the cost to her. No matter the amount, there’s no way for him to come out a winner. Either he spent too little and she’d see him as a cheapskate, or he spent too much and he wasted money they could have used on their future on a piece of jewelry.

I’ve jokingly advocated buying a cubic zirconia ring and try to pass it off as a family heirloom. Somewhere between that ridiculous suggestion and the equally outrageous three-months’ salary concept lies the truth.

So I ask you, hive mind, what is the right amount to spend on an engagement ring?

The Engagement Ring: Do you know how much he spent? [Well-Heeled Blog]