An engagement ring is something that takes up a very small percentage of the overall wedding budget but it’s a lifetime investment. Hence a smart and sensible decision is essential. It is impossible to give a single answer to the question of ring etiquette. People spend on a ring based on their choices, budget, and sentimental value.

Average Cost of an Engagement Ring

It is estimated that these days, couples will spend on average $3,756 on an engagement ring in the Edmonton and Leduc area. A couple of years ago, the average was around $7,829. financial situation. There are a number of factors that influence the price of the ring itself. A ring’s cost depends on a number of factors, including size and style—your significant other may prefer a delicate style over one with a higher carat weight or vice versa. The second factor is “the 4Cs” of a diamond. (cut, colour, clarity, or carat). Also, a ring’s size and quality, any details i.e. engraving etc and the chosen metal, all contribute to its cost.

Bursting Common Myths 

In recent years, it has become accepted that one should spend about three months’ salary on an engagement ring, but this is an outdated myth. It should not be necessary for someone to spend over a month’s salary on the ring, given the advancement of technology and lab-grown diamonds that aren’t as expensive as they once were.

It’s a common belief that you can shop for a cheaper diamond online. The riskier part of shopping for diamonds online is that the choices are more limited, and the untrained eye may not be able to notice poor-quality stones. Considering diamonds are a science, there are some tricks to know about each cut and shape. A diamond expert will help you determine which diamond is best for your budget based on the “Four Cs.”

Appropriate Budget 

You may still worry that your partner will go overboard when it comes to buying an engagement ring, even though there is no set price cap. Whenever you know the proposal is coming, you should be direct and suggest your opinion casually. 

Do you think you should spend about a month’s salary on an engagement ring? You can spend as much as you feel is appropriate. You are ultimately the one who knows your fiancé-to-be’s needs and your fiancé best, not a marketing department. 

Prior to shopping for an engagement ring, there are a few things you should consider that can help you determine the amount you set aside for the wedding ring.

  • Consider the cost of the band as well as the center stone
  • Understand your partner’s expectations
  • Consider your financial situation and plan accordingly 
  • Remember ‘Thoughtfulness’ doesn’t have anything to do with ‘Expensive’
  • Consider your options and take time before making a decision 

Lastly, putting aside your own preferences will allow you to truly cater to your significant other’s needs. Ultimately, it will be they who will wear it every single day. You can count on Leduc Goldsmiths to offer you the best options based on your budget and style preferences. 

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