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]

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