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What should I spend on an engagement ring?
A starting point, not a rule — the right budget is the one you are comfortable with.
Most buyers spend between one and three months of income. Laboratory-grown diamonds let a budget go further than a mined diamond of the same size and grade.
Enter your monthly pay to see a suggested budget.
How much to spend on an engagement ring is one of the first questions people ask, and there is no single right answer. Our free calculator gives you a starting point based on your take-home pay, how many months of pay you would like to spend and any savings you have set aside. Then you can see the engagement rings within your budget.
How to use the calculator
- Enter your monthly take-home pay.
- Choose how many months of pay you would like to spend, from half a month to three months.
- Add any savings you have put aside for the ring (optional).
- See your suggested budget, with the figures for one, two and three months, and press “See engagement rings” to shop within it.
How much should you spend?
The idea that a ring should cost “two or three months’ salary” came from diamond advertising, not tradition. Today most people spend somewhere between one and three months of income, but the best budget is the one you are comfortable with and that fits your plans together, such as a wedding or a home. A ring bought without debt worries is a happier one.
What decides the price of a ring
- The diamond: carat weight, then cut, colour and clarity. See our diamond guide.
- Laboratory-grown or natural: a laboratory-grown diamond costs much less than a natural one of the same size and grade, so your budget goes further.
- The metal: 9K, 14K or 18K gold, or 925 sterling silver, and the weight of the ring. See our metal guide.
- The design: a solitaire uses less metal and fewer stones than a halo or a pavé band.
- Extras: an optional IGI report for the diamond, and delivery, both shown at checkout.
How to make your budget go further
- Prioritise cut: a well-cut diamond looks brighter and bigger than a heavier, poorly cut one.
- Choose just under popular weights: a 0.90 ct diamond looks the same as 1.00 ct but costs less.
- Choose G–H colour and VS clarity: they look white and clean to the eye at a lower price than the top grades.
- Consider 14K gold: it is more durable than 18K and costs less.
- Pick an elongated shape: oval and pear diamonds look larger for their weight.
Saving for the ring
- Decide on your budget early and work back to a monthly amount.
- Put it in a separate savings account or set up an automatic transfer.
- Do your research first with our engagement ring guide, so you know what to prioritise.
- If you would like to spread the cost, EMI may be available on your card at checkout. See payment options.
Frequently asked questions
Is three months’ salary too much for an engagement ring?
Only you can say. It is an old advertising rule, not a requirement; many couples spend less and put the difference towards their wedding or home.
What can I get for my budget?
Use the calculator, then press “See engagement rings” to see designs within your budget, or book a consultation and we will suggest options.
Can you design a ring around my budget?
Yes. Our bespoke service designs to your budget, and the ring builder shows the price as you choose each part.
