When you finally get to that point where you are ready to propose, it can be exciting, daunting and a little terrifying – all at the same time. Not only do you have to come up with a creative way to propose – you also have to think about the money involved. You will have travel, dinner and all the other miscellaneous expenses – but you also have to think about the ring. Yes, the ring, you have to figure out exactly how much money you can shell out for sweetheart on the ring that she will wear for, presumably, the rest of her life. You want to make sure that you don’t spend so much money that you can’t pay all your bills at the end of the month, but you also want to make sure to spend enough to really knock her socks off. Here are a few things to consider when budgeting for a diamond engagement ring.
How Soon Do You Plan To Propose?
If you have some time to start saving up, then you might want to go the typical route, which is 15% of your annual income. If you’ve been saving up for a while now and you really want to make it count, then there are a lot of people who tend to go with 3 months salary – or 25% of your annual income. Then again, if you don’t have a lot of time to save up, but you still want to dazzle her, then there are a couple of other options.
Buy A Solitaire Now And Pick Out The Diamond Engagement Ring Together
Another great option is to buy a diamond solitaire ring and put most of your budget into the diamond for now. A diamond solitaire is simply a diamond ring with a basic metal band. Not only is this a great way to go if you want to break up your spending a bit over time, but it’s also a great option if she is pretty picky and you don’t want to get her the wrong ring. North American Diamond Brokers allows you to buy a diamond solitaire now, and then trade it in within a year for the diamond engagement ring of her choosing, so that she can get exactly what she wants.
Design The Ring Together
Another great reason to buy a solitaire now and trade it in for a diamond engagement ring later is that you can actually design both of your rings together. This way you don’t have to break the bank before she’s even said yes, and you can spend some more time saving up while she spends time researching ring designs. Remember, that you will also need to get her an accompanying wedding band, so it can be nice to break those expenses into a few installments.