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June 06, 2024 2 min read

Custom Engagement Rings in Alpha Road Dallas TX 75240


You want the occasion to be memorable, so don't allow the dilemma of how much to spend on an engagement ring worry you out. Here's what you should know before purchasing.


Engagement Rings in Dallas - Diamond professionals, jewelry designers, and master setters are ready to create your dream ring.


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What is an appropriate price for an engagement ring?


According to a Credit Donkey survey from 2024, most couples plan to spend between $1,000 and $5,000 on an engagement ring, despite the fact that the average cost is $5,225.


Will you marry me? People fantasize about the moment they get engaged, typically describing it as one of the best days of their lives. And, while you may just propose, doing so with an engagement ring is a significant expression of your love and devotion.


Of course, you want something with a wow factor that your significant other would like and wear every day—but you also don't want this one purchase to bankrupt you. So, as you're looking at dazzling tiny pieces of art and learning about cuts, color, and clarity, the second huge question you'll have is how much to spend on engagement rings.


What is the quick answer? Perhaps not as much as you imagine. "It is a token of your love, but it's as much about the effort you put into it, how well it fits your partner's style, and the memories as it is about the cost," says Carrie Speed, an engagement ring specialist and co-owner of Jewelfire Diamonds, a chain of jewelry stores in Colorado, with her husband, Grant.


"If I could bust two big myths about buying engagement and wedding rings, it would be the idea that you have to spend a lot to show your love and because it's a 'investment piece' for your future," says Grant Speed, a gemologist.


"Neither of these are true, and thinking this way can get you into financial hot water quickly." Recognizing that you're buying mostly for sentimental value and taste may make the experience much more relaxed, enjoyable, and, eventually, more economical.


Because this might be one of the most expensive purchases you ever make, you should understand how much to spend on an engagement ring, how to create a budget to finance it, and whether or not to insurance it.


We spoke with a number of specialists to get all of the information you need before you take the plunge and begin thinking about additional engagement details, such as whether you should propose before or after dinner and which knee you propose on. Before you know it, you may have a new fiancé (or fiancée). (Don't worry, we have an answer for that too!)