Modern Engagement Rings

You may have heard the rule that you should spend 2 or 3 months of your income on your engagement ring, but this rule was just a marketing ploy created by De Beers. Your spend should be based on your budget and the type of engagement ring you are looking to buy.

1. Budget - how much you are willing to spend on a ring
2. Ring Style - are you looking for a classic ring or maybe a vintage ring?
3. Metal - rings can be made of platinum or different types of gold
4. Shape - the shape of the center diamond in your engagement ring
5. 4 Cs - the color, clarity, cut and size of your diamond are important criteria in choosing your diamond

For natural diamonds, the average cost is around $6,000 and the average carat weight is 1.25 carats. For lab grown diamonds, the average cost is $4,000 and the average carat weight is 2.5 carats.

Engagement rings can be made out of platinum or gold. Gold can be mixed with various metals to produce different colors such as white gold or rose gold. Gold rings also come in different purities. 18 karat gold is 75% gold and 14 karat gold is about 58% gold.