How Much Should You Spend on an Engagement Ring?

Engagement rings are a symbol of love and commitment, and they can come with a hefty price tag. But how much should you spend on an engagement ring?

This is a question that many couples struggle with when they’re ready to take the next step in their relationship. In this blog post, we’ll discuss the factors to consider when deciding how much to spend on an engagement ring, as well as some tips for finding the perfect ring within your budget.

Factors to Consider When Deciding How Much to Spend

Traditionally people used to say your engagement ring budget should be about 2- or 3-months’ salary, but this is not the case. You should spend what you both feel comfortable with.

But please remember, you will wear and look at your engagement and wedding ring every single day for the rest of your life and besides your loving partner, it is about the only thing you will have left from your wedding day.

Therefore, it is really important that you pick the right ring for you. Is it better to spend a little more on that dream wedding and engagement ring that you see every day, rather than some of the other wedding days expenditure?

When it comes to buying an engagement ring, there are several factors that you should consider before making your purchase. These include the style, design, quality and size of the diamond or gemstone.


The most important factor to consider when deciding how much to spend on an engagement ring is your budget. It’s important to set a realistic budget before you start shopping so that you don’t end up spending more than you can afford.

Alternatively, you can also finance your engagement ring over the medium term to help with your immediate cashflow to cover wedding day and general living costs.

Some jewellers will also let you pay off the ring over a period of time. With diamonds prices increasing by over 30% last year and general manufacturing costs increasing, this is great way to pick your dream ring and also guarantee your purchase price.


The quality of the diamond or gemstone is also important when it comes to determining how much you should spend on an engagement ring. Generally speaking, higher quality diamonds or gemstones will cost more than lower quality stones.

For many people the buying journey starts on line, seeing different styles on social media or on websites, but we would recommend that you never buy your engagement ring online.

You need to see the ring before buying or at least see the quality of the real gemstone and the real ring mounts. Pictures and videos online can be quite deceiving, so we recommend you sit down with an expert, enjoy the experience, and they can show you the quality, the spread and the clarity of your dream gemstone.

When looking at the quality of a diamond, ask if it is certified by either with a GIA or IGI certificate. This will give you even more confidence that the diamond is the quality of your choice.


The style of the ring is also something to consider when deciding how much to spend on an engagement ring. Some styles may be more expensive than others due to their design or materials used in their manufacture.

Engagement rings fogal and barnes harrogate


In over 50% of purchases, we find that our clients end up with a completely different ring design than they first imagined they would purchase. Therefore, we recommend that you pick a jeweller where you can try on many different designs until you find the one you really love. Your skin tone, finger size and many other factors can determine what puts that smile on your face.aybe consider alternatives to diamonds: Many couples are now purchasing other gemstones as their personal choice for their engagement ring, with sapphire, emerald and aquamarine rings all now being made with wed fit mounts and being the choice of many people.

Where to shop

Most importantly enjoy the experience. These are moments that you will remember and cherish for the rest of your life.

How lovely and romantic will it be that you’ve sat down, relaxed and personally picked your own design, your own diamond and enjoyed the whole experience?

Engagement ring at Fogal and Barnes Harrogate

Pick a town where you can see many different options, such as the beautiful Spa town Harrogate. Harrogate jewellers provide a fantastic opportunity for you to enjoy a romantic day or a weekend away whilst also picking your dream engagement ring.

If you are looking for the very best selection of jewellery in Harrogate, visit Mona and Richard Norman at their family run and independent jewellers, Fogal and Barnes Fine jewellers on Cambridge Street.

This is where you will find the best selection of fashion forward and individually designed, top quality modern and traditional engagement rings, whilst also experiencing the very best of personal service.


Deciding how much to spend on an engagement ring can be challenging to start with – but with these tips in mind, you should be able to find a beautiful piece of jewellery within your budget!

Remember that at the end of the day, it’s not about how much money you spend – it’s really about finding something that illustrates your true love and commitment for each another!