Are you madly in love with your life partner and plan to ask her to marry you in the near future? This is an amazing situation for anyone looking to spend the rest of their life with somebody that they truly care about. It’s also a time of great stress because of wedding planning, creating guest lists, and even more important, getting the perfect engagement ring so she answers yes when you pop the big question!
You can approach purchasing an engagement ring the easy way or the hard way. If you want to do it the hard way, you’ll ignore all of the expert advice that people offer you in person and online and do whatever the heck you want as far as purchasing the ring is concerned. You may end up spending way more than you should have or you may end up spending too little if you really don’t know what you’re doing.
On the other hand, you can do the right thing and pay attention to the brief guide that we’re about to share with you today. It will help you see exactly how much you need to set aside when budgeting for an engagement ring. And it will make your life that much easier over the long run so you’ll never have to worry about making a mistake.
What’s the Typical Rule of Thumb for Budgeting for an Engagement Ring?
You can most likely imagine that there is a typical rule of thumb when it comes to budgeting for an engagement ring. You’d be right if you felt this way because there is a set standard that many people live by.
What is that standard? Well, conventional thinking believes you need to spend three months’ worth of your salary on the engagement ring. In that scenario, you’d have to save up all of your paychecks for the next three months and use that money toward your engagement ring purchase.
Does that sound like a good idea to you? If it does, then this is something you can easily afford and it will not create any massive havoc in your life. If it seems like it’s going overboard, you may need to rethink the strategy and consider spending less on the engagement ring. If she really loves you, she’ll accept you for who you are and be grateful that you were able to buy the ring that you did.
How Else Can You Determine How Much to Pay for an Engagement Ring?
Personally, I like to play it by ear when it comes to buying an engagement ring. So take a look online at some of the best engagement ring websites and look at the different rings and prices they have available. Does anything immediately jump out at you?
If so, that ring at that price should be a good fit for you and your budget. If it’s not, then figure out a way to get financing so that you can afford the ring and make your better half happy.
Don’t forget! When you do get married, you’ll need to fork over some cash for groomsmen gifts, so be sure you have enough cash saved.
Conclusion
Please use this expert advice and guidance to put together the perfect budget for purchasing an engagement ring.