Engadgment rings three times your wages

ntlbell

A friend of mines mother told us that when she was a wee lass people then (or people she knew) said 3 months wages should be used to calculate the cost of purchase for the ring

so taken the average industrial wage today is 35k which is roughly 2300/2400 a month giving the top of end of the ring being 7200

does that sound like a good place to start when people ask how much they should be spending on a ring?

BroomBurner

Only a (very minted) idiot would pay that price for a ring. Or even use that determination to pick a ring.

Hagar

Post a pic of the GF and we'll let you know how much to spend.


Seriously in these financial times you must have more important things to spend your money on than jewelry just so a few girls in her job can go "oooh".

EL_Loco

I heard it was 2 times your wages. Regardless, any such equation should be ignored.

Toots

I think 'whatever you can comfortably afford' is the best guide to what you should spend on a ring.

implausible

That's very out-of-date thinking. That was back in the day when the man was probably living at home with mammy and had no expenses. Don't bankrupt yourself over a bit of bling, there are far more important things to spend your money on. A month's wages is probably more acceptable but I would personally find that excessive too.

seamus

The number of times your wages depends on what you earn in a month

But as said, you pay what you can comfortably afford. Whatever you do, don't get a loan for it. If you're living together and have a large number of expenses, then you might pay a good bit less. On the other hand, if you're living at home or otherwise don't have a lot of outgoings, you could probably save up a good wad of cash in a short period of time without putting yourself under any stress. If you already have a joint account it could be difficult to save any kind of cash, so a small loan from family (if possible) may be the best option.

What I would do is work out how much you can save in a month without having to eat beans on toast for that whole month. Then figure out what that would work out to after 3 or 4 months. That would be a guide price for me.

In any case, if she wants to marry you the ring will be largely irrelevant. So long as it has a gold band and some sort of diamond (though for many women, either are optional), she'll love it because it came from you. It's not about the ring so much as the symbolism.

Emerald Lass

I think this quotation of x times your wages also cam about in a time whre the groom only paid for the ring, and maybe his wedding suit - all other expenses went to the father of the bride. So if my hubby to be was only getting away with buying a ring I might want a more expensive one! but if it is the situation as with most marriages nowadays where the couple are paying for a lot or all of it themselves, then it seems a bit extravagant to demand a ring which costs x amount or else!

Also consider buying abroad. My ring cost €5000 in Ireland - same ring, same specifications, made to order 4000 YTL - under €2,000!