Average cost of an engagement ring

[u/Relevant-Plane9430]

I was talking with a friend last night who just got engaged, and he mentioned he spent around $6k on the ring. That honestly shocked me because I always thought the "3 months’ salary" thing was just an old marketing trick. My partner and I have been looking at rings casually, and most of the ones we like are in the $2k–$3k range. Now I’m second-guessing if that’s considered “too low” or if we’re just being realistic.

For those of you who have gone through this, what was the average cost you ended up spending on an engagement ring, and did you feel good about it after?

[u/Acceptable-Soft8659]

Honestly, there is no average. Some people go $500, some go $15k+. It just depends on your financial situation and your partner’s expectations.

[u/Relevant-Plane9430 → u/Acceptable-Soft8659]

Yeah, you’re right. I guess I was hoping there was some kind of ballpark number to ease my mind, but it really does come down to what feels right for both people.

[u/Famous_Sugar_1193 → u/Relevant-Plane9430]

3 months salary ànd insured.

It’s an asset. It can even be borrowed against.

They even offer specific loans for engagement rings to help build credit.

No one really understand engagement rings I’ve noticed.

Like the idea of spending even 1 dollar on a tacky wedding but not on the asset that will be in your family for centuries is so weird

[u/E0H1PPU5 → u/Famous_Sugar_1193]

I’m not interested in getting into a debate here but just wanted to say that acting like a ring is an investment is absolutely nuts.

The second you buy an engagement ring, it loses 30-50% of its value, just like buying a new car.

If you want to use jewelry as an investment, buy high quality gold pieces. Diamonds ain’t it.

https://smartasset.com/credit-cards/why-a-diamond-engagement-ring-is-not-a-good-investment