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Diamond Engagement Ring - How Much Do I Need To Spend?
Diamond rings have always had eternal appeal, but the celebrity fixation with all that glitters and sparkles ensures diamonds remain the ultimate must-have rock.
Most women dream of being presented with a diamond ring, wearing one implies value, status and feeling loved. It’s no wonder diamond rings are such a popular engagement status symbol. And diamond rings have etched their way into the top of our most-desired-for list thanks to the diamond divas that have glimmered and shimmered on celluloid and in the celebrity magazines.
Can a Price Be Put On Love?
Ask anybody what price he or she would put on love and nearly all would answer that true love is priceless. The diamond engagement ring is seen as the symbol of eternal love, and society tends to measure the price of the engagement ring as an approximation of the amount of a couple's love. Current engagement etiquette suggests that a groom-to-be should plan to spend approximately the equivalent of two months’ salary on a diamond engagement ring. Following this tradition, the purchaser of a diamond engagement ring can expect to spend about $4000 if their monthly salary is $2000.
The average cost of a diamond engagement ring is between $3000 and $4500. The quality of the diamond, the cut of the diamond and the setting used effects the cost of the engagement ring. The higher the quality of the diamond will result in a higher priced engagement ring. An engagement ring with a diamond of less quality can be purchased in a larger carat weight for the same price as that of a higher quality. The precious metal used for the engagement ring also determines the price. A ring set in platinum will have a higher price tag than a diamond engagement ring set in gold.
Diamond Engagement Ring Options and Considerations
Before embarking on the quest for the perfect diamond engagement ring, one should consider their options wisely. Most importantly, the purchaser’s current financial situation should be carefully examined. Can money easily be set aside each month for saving for the diamond engagement ring? Secondly, the soon to be bridegroom should consider time constraints. Do you have a specific date in mind to pop the question? In addition, the current living situation should be considered. If the couple is already living together and sharing expenses, it may be a wise idea to discuss the diamond engagement ring’s budget with the future bride.
Along with the financial considerations come financial options. If the buyer discovers that they do not have the ability to set aside enough money in the length of time required, they have the option of financing the diamond engagement ring purchase. Taking a personal loan out on the diamond ring allows smaller payments to be made over a longer time. Another option for the future groom is to start small. This is a good option for a young couple or one on a tight budget. A smaller diamond engagement ring can always be the foundation to a larger ring set down the road when money is not so tight. Lastly, if the new diamond engagement ring just has to be flashy, there is the option of buying a larger, lower quality diamond.
Ultimately, the decision on how much to spend on the diamond engagement rings lies with the buyer. Love is priceless, and a diamond engagement ring that is carefully decided upon by the bridegroom as a token of devotion, is just as priceless.
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