How Much Should I Spend On A Wedding Ring?
Wedding rings usually take up the lion’s share of a wedding budget, and rightfully so as it's the item that stands the longest after the ceremony. You wear it every day, and hopefully until the vow's consummation- "til death do us part."
But while a great deal of attention should be given to wedding rings more than anything, one should be reminded not to go into debt acquiring a fancy object. With that being said, how much is too much for a wedding ring?
We’ll help you answer that one question that’s been bothering grooms-to-be, ‘how much should I spend on a wedding ring?’
2-Month Salary Rule
We're in modern times, and a lot has been going on in the world and people's lives. The old rule that engagement or wedding rings should be worth 2 to 3 months of your salary is outdated and impractical. It's time to ditch the old time's tradition.
If you're bothered by 'how much should I spend on a wedding ring,' the primary basis should be how much you can afford. Going into debt to provide your bride with the most expensive ring she can wear is a recipe for a disastrous marriage, as you will have to start your relationship paying off loans. And instead of enjoying life together, you’ll both end up squeezing your resources to pay off your wedding day debts.
However, expensive rings are neither a taboo. If you opt for a ring worth thousands of bucks, nobody should be telling you that the money could have better use if you can truly afford a priced ring. As was mentioned earlier, the ring stays long after the ceremony ends. You wear it every day and is subject to the stresses and strains brought by your activities. Hence, it needs to be made of exquisite, quality alloys, which can be a little pricey.
Average Ring Cost
If you're trying to set aside some amount for the wedding ring, it's good to know the average cost of wedding bands. The median price range for rings varies for males and females. The average cost is $500 for men's rings while female bands are a bit more expensive, coming at $1,100. The price difference is owing to women's rings, usually having more adornment.
The factors where a ring’s value depends on include the type of precious metal used, the set design, and the type and number of precious stones present in a ring. A plain 14K white gold ring may only cost $250, but a diamond-emblazoned ring would cost around $1,080.
A way to move forward when planning what every soon-to-be-wedded couples think of – how much should I spend on a wedding ring, is to follow this guide by Bride’s American Wedding Study. In a survey they conducted, most wedding bands take up about three percent of the wedding funds.
Factors to Consider When Choosing A Wedding Ring
Most couples only ask themselves, 'how much should I spend on a wedding ring.' But the price isn't all that matters. When out to shop for a wedding band, here are some of the things that you should look into.
- Complementary Rings. Some couples like their rings to complement each other in color and design. It's easy to find matching wedding rings. But some couples aren't into rings that complement, and there’s still a wide array of designs that they can choose from. What matters is you’ve talked about your preferences before buying to avoid disappointments.
- A wedding ring design should match the engagement ring. Since you’re supposed to wear both the engagement ring and the wedding ring on the same finger, it would be best if the designs complement each other. This way, the other ring doesn’t have to come off when you later find out they don’t fit together.
- A sturdy ring. Look for a sturdy ring that can withstand time and activity. The best metals for a ring that can hold up everyday use are 14 and 18K gold and platinum. The digit, followed by the symbol K for karat, represents the amount of gold in a mixture of alloys, with 24K being pure gold. The higher the karat, the weaker the ring because gold is not a very hard metal on its own. White gold and tungsten also make a quality ring.
- A style that suits your preference. Wedding rings can also be stylish. You can go classy, unique, or artsy. There's no rule about how wedding rings should look like, as long as it suits your preference.
- A ring that symbolizes you. Rings are an expression of love and commitment; let yours be that instead of brandishing flashiness. However, rings also represent the sincerity of your commitment, and so it won't harm if you spend a considerable amount on something that's meant to last a lifetime. Find out more about wedding rings.
How much should I spend on a wedding ring shouldn't bother couples that much when planning for a wedding. When both understand the ring's value in terms of commitment representation, personal preference, and durability, you will find that the cost doesn’t have to be that high. There are far more critical defining factors that you should consider when buying a ring, instead of obsessing with the price. After all, your bond's real value as married couples lies not on your wedding band but on your commitment to keeping the vows.
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