If you’re thinking about asking the big question soon, one of the first things that you should consider is, “How much is the average wedding ring?” Although you definitely can’t put a price on love, there’s also no reason for you to get into debt just to find the perfect symbol for your love and commitment.
Here are some of the essential things that you need to know if you’re wondering about the average price of wedding rings.
What Factors Influence the Price of Your Wedding Ring?
There is no set amount on how much you need to spend on an engagement or wedding ring. Most people follow the 3-month-salary rule. While 3 months’ salary will undoubtedly buy a beautiful ring, no one wants to start their marriage with a substantial financial burden.
The cost of wedding rings varies depending on several factors. Below are some of them:
- Your preferences and expectations – It’s a good idea to have an honest conversation about the kind of wedding ring that you prefer. Since your wedding rings are supposed to match, it’s essential to find the right ring in a style that both of you like. You should be on the same page to ensure that your special day is spectacular for both of you.
- Your finances – Your budget is going to play a massive role in what kind of wedding ring you can get. You should never go into a tremendous amount of debt just to get the perfect wedding ring. Consider your current income, future income, upcoming expenses, and savings before you decide on a wedding ring.
- The jeweler – Most couples prefer the experience of going to a brick-and-mortar store to choose their wedding rings. Others may want to shop online to have a more extensive selection and convenience. Depending on which jeweler you select, prices will vary considerably.
How Much Does the Average Wedding Ring Cost?
Realistically, everyone should consider their personal preferences and circumstances before they purchase a wedding ring. There’s no specific amount that one is expected to spend. However, it’s a good idea to know how much is the average wedding ring so that you have a basis for comparison.
In the United States, the average wedding ring costs around $7,829. However, this amount is skewed because of the significant number of expensive, luxury rings. If these are disregarded, an average couple spends between $1000-$5000 on wedding rings.
Just remember that the number will vary depending on where you’re located. For example, those who live in larger cities are more likely to splurge on an expensive wedding ring compared to those who reside in rural areas. Here’s how to learn more about wedding rings.
Choosing the right wedding ring means first finding the right answer to the question, “How much is the average wedding ring?” It might be a monumental item, but you shouldn’t focus on finding the most expensive one you can afford. Instead, find the wedding ring that is perfect for both you and your future spouse.