How much should you spend on an engagement ring?

A sking for your partner’s hand in marriage can be one of the most difficult decisions you make in your life. Therefore, it’s crucial that you spend the right amount on his or her engagement ring. You need to be willing to balance their expectations with the financial situation that you’re in. And so, here’s a quick guide to knowing how much to spend on an engagement ring. First, it’s important to know that engagement rings do not have to cost two months of your salary. That rule was made up by a marketer looking to make an extra buck and should not be taken seriously. In fact, the company that created that ad, DeBeers, also said that men need to propose with a diamond. Both rules are ridiculous and do not represent the love and compassion that you have for your partner. The best way to figure out how much you want to spend on an engagement ring is to simply be honest about your earnings and your expectations for future earnings. Simply look at your finances and try to find a ring that shows the compassion and love you have for your significant other without going over the top and spending 1/6 of your yearly salary. If you absolutely need a rule, the try and set the bar at 10% of your yearly income, but this should be the absolute max.