Are you planning to buy your significant other an engagement ring? Are you wondering how much to spend on that engagement ring for her? Here is a 5 step way to figure out how much to spend on an engagement ring.

Step #1

Figuring out how much to spend on an engagement ring is not an easy task. Each woman is different and each woman wants something different. They will almost always be modest so the first rule of thumb is to go a little larger than what they think they are getting. If they think they are getting a half carat, then bump it up to a three quarter carat diamond. This will ensure she is happy.

Step #2

The price of the ring is only part of what you need to look at. The real price tag is the value. She does not need to know exactly what you spent, but the value is going to be on the appraisal so she will know that. There is nothing wrong with getting a $3,000 ring for $1,000. That is called smart shopping.

Step #3

Figure out what she thinks the value of her ring should be and make sure the ring is worth more than that. If she will be satisfied with a $2,000 ring, then make sure you get at least a $2,500 ring. It is always good to go above and beyond when it comes to her diamond engagement ring. This does not mean you have to spend $500 more than what she expects the value to be, that is up to you.

Step #4

Forget the 2 months salary rule right now. That was just intelligent marketing on the part of DeBeers about 15 years ago. If you make $4,000 a month, then you are talking about spending $8,000 on a diamond engagement ring. Most people that make $4,000 a month cannot afford to spend two months of their salary on a ring. Maybe getting a ring that is worth $8,000 would be a good idea if you can get a great deal and spend around $3,000. Trust me this can be done and we will talk about that a bit in step 5.

Step #5

Spend what you know you can afford and get a great diamond engagement ring that she will love. Your goal is to make her happy and make sure she says yes so you need to get her what she wants and go a little above what she is expecting. Trust me what she is expecting and what she wants are two different things. You need to find these out and then do some creative shopping using online discounter like eBay. Avoid the mall jewelry stores and make sure to get prices from more than just a couple stores. There are a ton of great deals out there and the more patient you are the better your chances of getting a ring that will appraise for twice what you spend.

You now have 5 steps to help you figure out how much to spend on an engagement ring. This is just a short guide and you should always take your soon to be wives feelings and opinions on this matter very seriously. After all she is the one that will be wearing it for the rest of her life.