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What is the appropriate budget for an engagement ring?

You are probably here to get information about the budget you must spend on an engagement ring. We would like you guys to know that engagement rings are an important part of the proposal and, of course, the wedding. In this post, we would try our best to inform you about the different rules and traditional opinions that you can follow. Before telling you about these rules and traditions, we would like you to know that you don’t have to religiously follow them as every person has their own financial situation, which may or may not allow them to follow these rules.

The average cost of an engagement ring lies somewhere between $1000 to $8000. This cost is dependent on multiple factors like the cost of Gold, the area you live in, and the trends being followed by the people.

Below we have discussed some of the well-known budget setting rules for engagement rings.

Setting a budget for buying an engagement ring!

Follow these rules if your pocket allows you to:

Three Months’ Salary Rule

The three-month gross salary rule is among the most followed ones across the globe. As the name of the rule tells us, you must spend your three-month gross salary on the engagement ring. This rule is being followed by the majority of the people as it doesn’t bound them to spend a certain amount on the ring.

Now some people are fond of this rule, and some feel that it is not appropriate. Suppose you are earning more than 5k per month, then it means that you would be spending more than 15 grand on the ring, which is no doubt a lot of money. This rule is set by diamond markers and people with vested interests to increase the flow of sales. If your monthly income is two grands or less than it, then we would recommend you follow this budgeting rule.

The Age rule

This is another budget-setting rule, but you must know that it is known to be the crazy one by the majority of people across the globe. According to this rule, the carat size of the diamond in the ring should be equal to the age of the woman. For instance, if you are proposing to a woman who is 30 years of age, then you must buy a diamond ring with a carat size of 3.0! This, no doubt, is going to cost you a lot of money. The conventional carat size used in diamond rings is somewhere around 1.0 and 2.0!

Following the average cost

Following the market trends is another common way of setting your budget. You can easily find out what trend and what is the average cost being spent in the market. The engagement rings Dubai trends, and the average cost would be different than that of the USA. According to this rule, if you are living in Dubai, then you have to spend the average engagement ring Dubai cost rather than following the budget trends of any other country.

Some financial rules that you must follow!

When it comes to getting an engagement ring, you must make sure that you follow some financial rules. Some of the common and helpful ones have been listed below for you guys!

  • You must start saving money right away. You must understand that when you have decided to propose the love of your life, you have to start saving money right away. According to our and expert recommendations, you must save for at least six months before you propose to the
  • The second tip is to never propose the moment you think of it. You have to first give it a thought, go through the prices of the engagement rings, and also study the ongoing trends in the market. You have to complete your market research before you make a budget.
  • We would not suggest you spend a fortune on the ring, but we would also suggest you not go too cheap!

When buying an engagement ring in Dubai, you have to ensure that you are focusing on quality and reliability!

 

Read more: Secrets To Buying Quality Gift Cards Online

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