how much to spend on engagement ring uk

We bought my ring from a jewelry store off Ebay for 400 about 11 years ago for. The South East comes in next with an average spend of 1877.

How Much Should You Spend On An Engagement Ring Hitched Co Uk Hitched Co Uk

Id rather the money went to the house we were saving for at the time.

. A recent survey suggests that the national average for money spent on an engagement ring in the UK sits at 1865 even though the average cost of an advertised engagement ring is 1483. Thats less than an average of one months salary 1800 based on an average annual salary of 27271. Consider buying a loose diamond online and have a local jeweler set it.

If you earn 60000 per year you should spend 10000 to 15000. During the past few years over 18 of grooms spent no more than 500 on their. Next is those who are from Greater London spending an average of 2335.

The US does have a tradition of spending more on engagement rings than other countries such as the UK where the average engagement ring costs around 775. In todays money based on average salaries it would suggest that in the UK you should be spending approximately 6k on an engagement ring something that is far from the average suggested by insurance company Protect Your Bubble who said in 2018 the figure was actually 1485 for an engagement ring. According to our most recent National Wedding Survey the average amount spent on an engagement ring was 2419 yes it is okay to breathe an audible sigh of relief after reading that 7000 figure above.

In third we go to Northern Ireland who spend more than the national average at 2272. You always have the option of presenting your future spouse with this information and suggesting they spend the average amount. For engagement rings between 8000 and 11000 click here.

Some people say you should spend two months salary on an engagement ring. This falls just short of the De Beers two-month salary standard. Its a fair number but you should keep in mind that it has nothing to do with their own personal financial standing.

Its important to note that 6000 is a national average taken from respondents all over the country and is influenced by a multitude of factors one being region. A millennial aged between 23 and 38 will pay around 2000. The average cost of an engagement ring in the UK is 1483 but the findings reveal that only 24 of Brits would expect their partner to spend this much between 1000 and 2999.

Advertisement Furthermore 50 of Brits would expect their other half to spend less than 1000 on an engagement ring nearly 500 less than the average cost. An average person will reportedly spend around 2000 to 3000 on an engagement ring. Although theres no precise average amount spent on an engagement ring most surveys of engagement ring buyers tend to produce an average in the 5000 to 7500 range.

However you dont need to be exact this is just a general guide. A one carat engagement ring typically costs around 5500 but most couples spend over 6000and 7 percent spend over 10000. My now husband could have proposed with a 50 ring and it wouldnt have mattered.

In the 1930s DeBeers suggested spending one months salary on an engagement ring but fifty years later this had been changed to two or sometimes even three months. However spending two months salary is not a realistic option for everyone and national newspapers have reported the national spend on diamond rings to range anywhere from 568 to 4000. Knowing how much everyone else is spending is a super interesting and b useful as a generic rule of thumb.

Luckily we picked it out together. If youre looking for a general benchmark to give you an idea then the national average cost of an engagement ring is 1865 Diamond Factory 2020. So if you take home 1200 per month youd be spending 3600 on the ring according to this rule.

If my now husband had spent more than 500 on a ring Id have told him that was silly. In fact 8 of ring shoppers are spending under 1000. According to the Office of National Statistics.

For example if you earn 48000 per year you should spend 8000 to 12000 on the ring. I cant remember exactly how much it was but I want to say somewhere between 700 and 900 this was 9 years ago. However some to-be-weds spend a lot less and some spend a whole lot more.

Others say your rings price should be in accordance with the national average spend. Although the average spend on an. Now this doesnt mean that you need to spend 5000 on an engagement ring.

Our study found that roughly one-third of all respondents are spending between 1000 to 4000 on their engagement ring. Once you determine how much to spend on an engagement ring you will need to understand the pricing brackets. In 2016 the average amount spent on an engagement ring in the UK was 573.

According to a recent survey by Ringspro an engagement ring guidance website couples spent an average of 5225 in the US. Thats just slightly under what the average monthly salary is which stands at 1950. Average spend on an engagement ring Mappin Webbs sales data also revealed that the average spend on engagement rings throughout 2021 was 3686.

A recent survey suggests that the national average for money spent on an engagement ring in the UK sits at 1865 even though the average cost of an advertised engagement ring is 1483. Although there are many formats below is the price bracket that weve categorized. Click here for engagement rings between 1000 and 8000.

Prices can vary significantly with the cheapest going from 10 to the most expensive clocking in at more than 30000. And the number of couples who want to spend much much less is growing fast. As long as its her style it really doesnt matter in my opinion.

Likewise if you take home 1900 per month youd spend 5700. However the number of people who seem to be willing to spend significantly less than the national average is on the rise. How to Get the Best Engagement Ring for Your Money To help you get the most for your money when buying an engagement ring experts suggest.

Three months salary Three months salary has long been the suggested spend amount for your beloveds ring. Theres an increase of 18 percent in the grooms. Engagement rings are a major investment.

According to the survey proposers in the South West spend the most on engagement rings with an average total of 3784. According to a survey conducted by retailer William May the national average cost of an engagement ring in the UK is currently 1471. I think my engagement ring was about 350.

BUT your personal budget should depend on your financial situation and not an arbitrary salary rule. You should spend 2 to 3 months salary on the engagement ring.

How Much To Spend On An Engagement Ring Uk Stats Facts 2021