Planning a wedding means getting every little detail right. One of the most important things that should be on the top of your list is finding the right wedding ring. You need to decide how much you can afford as well as what style and setting you prefer.
How much money should you spend on a wedding ring? Here’s everything that you need to keep in mind while you’re preparing your budget.
Average Cost of Wedding Bands
How much do you spend on a wedding ring? According to a study done in 2019 with the major jewelers in the United States, the average cost of a wedding band for men is $510, and for women, it’s around $1,100.
Approximately, wedding bands account for 3-5 percent of a couple’s total budget for their wedding expenses. One way to determine how much money should you spend on a wedding ring is to have a total budget first for the entire event and then go from there.
Factors that Affect the Price of a Wedding Ring
The answer to the question, “How much money should you spend on a wedding ring?” depends on several factors. Ultimately, you should go for a wedding ring that comfortably fits with the budget you’re looking to spend. Going into debt before starting your new life with your partner is never a good idea.
Before you decide to buy a wedding ring, check out the following considerations below:
- Complementary rings – A lot of couples decide to purchase wedding rings that are designed to match each other. However, if you don’t want to go this route, you can always pick rings that complement each other. For instance, choose rings that have a similar metal or design.
- Bands that match the engagement ring – When choosing a wedding ring, you can try going for the bands that coordinate with the engagement ring. Just make sure to choose one that won’t overpower the brilliance of your engagement ring. For example, if your engagement ring has a huge diamond, it might be best to stick to a simpler band.
- Durable rings – You’re going to wear your wedding ring every single day, so it’s crucial to find one that won’t get scratched or damaged easily. 14K and 18K platinum and gold rings are a great choice; however, they do need more maintenance. A less popular option would be titanium and tungsten carbide bands. They’re scratch-resistant, but they do cost just as much as gold rings.
- Style – Your personal preferences are always the most crucial element. Whether you are into classic, modern, or unique styles, make sure that the ring feels and looks right to you.
How much money should you spend on a wedding ring? This is a decision that needs to be discussed with your significant other. Unlike buying an engagement ring, you won’t be making this choice alone. Set a budget with your partner and figure out which metal, cut, and style suit both of you perfectly. Here’s how to learn more about wedding rings.