How much should I spend on an engagement ring?

One of the most longed-for moments for certain people is their wedding day, which represents the formalization with their partner. However, little is taken into account the doubts that the groom has in relation to the cost of the Wedding ring.

How much should I spend on an engagement ring?

There is a belief that the value of the engagement ring is equivalent to 3 months of the groom’s income, however this is a concept that is gradually falling out of use. Well, let’s face it, the value of the ring should not be decisive for the couple to decide to formalize through marriage, nor to ensure the ‘love’ they have for each other.

Added to an economic scenario where young people take longer to achieve economic stability, it is unaffordable for many to allocate three months of income to buy a ring, which is why some take only one month of income as a reference for the purchase of this jewel.

Alternatives to get the ideal ring

Only in 2019, Mexico registered a total of 509 thousand marriages according to INEGI (National Institute of Statistics and Geography), so it is common for there to be doubts regarding the value of the ring, as well as alternatives to achieve it. Therefore, this is one of the options you have:

• Ring with meaning and tradition: if you come from a family where marriage is a pillar, you can take advantage of this to ask that your partner’s ring be that of your mother or grandmother. A way of not spending a single penny and having a piece that passes from generation to generation.
• Set a savings plan:  if your goal is still to get a ring of three months of your income, you can choose to save 30% of your income per month, in this way in a little less than a year you will achieve the desired amount.
• Go to a jeweler: there is nothing more than to go to a jeweler and ask what you would like with the budget you have, in this way, you will have the option of customizing the ring together with a payment plan that best suits you.

Finally, consider that the value of the ring should not be decisive to guarantee that your partner is with you , because regardless of the value it has, it is important to know that it is the ideal person with whom you want to live.