How much are people spending on their wedding ring sets?

[feyesbest]

How much each couple spends on the engagement ring and wedding band is personal to their situation, but I am just wondering, how much are people spending? My engagement ring was $4,000. I think we will spend up to $4,000 on my wedding band.

I take public transportation to work and I see professional women wearing E-rings that I think must be $10,000 grand. It is hard to justify spending so much money on a ring, but is soo beautiful and we will wear them every single day.

I am just curious what other people are spending on E-rings and wedding bands, and if you finance them or buy them out-right, and if the decision is a tough one? Thanks!

 

[musey]

There has been quite a bit of discussion on this topic around here (as one would imagine with a high-traffic jewelry forum that's been around for almost 10 years), so if you're interested to do some reading you could try searching some keywords.

Date: 10/11/2009 6:15:46 PM
Author:feyesbest
How much each couple spends on the engagement ring and wedding band is personal to their situation, but I am just wondering, how much are people spending? My engagement ring was $4,000. I think we will spend up to $4,000 on my wedding band.

I'm not comfortable sharing this info about my own set, but this site lists $2,982 as the average amount spent in America on the engagement ring, and $1,060 for the wedding band, pulling the total average wedding set budget to $4,042.

I take public transportation to work and I see professional women wearing E-rings that I think must be $10,000 grand. It is hard to justify spending so much money on a ring, but is soo beautiful and we will wear them every single day.

This is quite common, especially in larger metropolitan areas like Atlanta, LA, NYC, Dallas, Miami etc. etc. To put it in perspective, $10k would pay for ~1.2ct E VS2 Round. There are lots and lots of 1.2+ rings running around these days!

I am just curious what other people are spending on E-rings and wedding bands, and if you finance them or buy them out-right, and if the decision is a tough one? Thanks!

The VAST majority of people on this forum advocate paying in full for jewelry (and other 'luxury goods'). Very, very few people around here (that admit it, anyway

) choose to finance their engagement or wedding rings. Anyone that finds their way here looking for advice on the subject is advised to spend what they can afford out of their bank account, not their credit limit.

 

[ambulance92]

We spent $1,200 on my engagement ring. ($1,350 - if you want to count the cost to have the diamond set and appraised)
And about $225 on my wedding ring and that included the tax and shipping costs.


Since we didn't want to spend more than we could afford we didn't have to finance it.

 

[elle_chris]

I won''t say how much we spent but we didn''t finance it. We didn''t spend our regular salaries either or I wouldn''t have done it. It was some of the bonus money after my hubby got a few promotions. In fact, I didn''t even have an e-ring for the first two years of our marriage as paying off debt (and a mortgage I had) was our priority.

 

[exoticisabella]

Date: 10/11/2009 6:52:38 PM
Author: ambulance92
We spent $1,200 on my engagement ring. ($1,350 - if you want to count the cost to have the diamond set and appraised)
And about $225 on my wedding ring and that included the tax and shipping costs.

I like your e-ring

do you have other pics of it? Maybe in the SMTR forum?

 

[musey]

Date: 10/11/2009 6:55:30 PM
Author: exoticisabella

Date: 10/11/2009 6:52:38 PM
Author: ambulance92
We spent $1,200 on my engagement ring. ($1,350 - if you want to count the cost to have the diamond set and appraised)
And about $225 on my wedding ring and that included the tax and shipping costs.

I like your e-ring

do you have other pics of it? Maybe in the SMTR forum?

If you ever want to find something like this, a good trick is to click on the "Find all posts" link under a poster''s avatar (picture).

SMTR thread

 

[diamondringlover]

My ering was around $3200 and my wring was a ebay special I spent $500 on it

 

[cindygenit]

6000 AUD on e-ring (my FI got mauled) and 2600 AUD on w-band

 

[jewelerman]

In my experiance the numbers go from 1,500 to $4,000 as an average.The $2000 mark give or take a few hundred is what many couples had in mind when they shopped with me.Ive seen it go as low as $800 and as high as $25,000 in the last few years.

 

[icekid]

My e-ring was around 4k; paid in cash. Wedding band was around 1k? But it was during med school and I will upgrade when I finish residency

 

[kittybean]

$4000 will get you quite a wedding band

! You can get a beautiful, bling-y diamond eternity band with that budget.

We bought our rings with cash. It''s best to purchase the rings that you can afford without financing; that''s how everyone here will advise you to buy.

 

[MakingTheGrade]

Heh, I feel like I''m in the minority in that my husband''s wedding band cost more than ours. We have a matching mokume set, and his was much more expensive since it was 6.5 mm to my 3mm.

 

[Haven]

We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

 

[Dancing Fire]

PS avg is $7400 just for the E-ring.

 

[4ever]

Date: 10/11/2009 9:28:38 PM
Author: Dancing Fire
PS avg is $7400 just for the E-ring.

Safe to say I''m below average in this statistic.

 

[E B]

Date: 10/11/2009 9:28:38 PM
Author: Dancing Fire
PS avg is $7400 just for the E-ring.

Source?

 

[sba771]

I won''t give exact numbers but my wedding set which will be a half eternity band and a plain platinum band will cost approximately 5% of what my engagement ring cost. The wedding set will be paid for outright just like the e-ring.

 

[Dancing Fire]

Date: 10/12/2009 1:19:09 AM
Author: EBree

Date: 10/11/2009 9:28:38 PM
Author: Dancing Fire
PS avg is $7400 just for the E-ring.

Source?

you guys don''t believe anything i say?

 

[bee*]

Date: 10/11/2009 9:25:40 PM
Author: Haven
We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

We did the same-only cash for us.

 

[luv2sparkle]

My first e-ring was 250. That was 1980 of course! Five years later less than a thousand. I take it your not counting upgrades, just first e-rings.

 

[DiamanteBlu]

Date: 10/12/2009 1:33:28 AM
Author: Dancing Fire

Date: 10/12/2009 1:19:09 AM
Author: EBree

Date: 10/11/2009 9:28:38 PM
Author: Dancing Fire
PS avg is $7400 just for the E-ring.

Source?

you guys don't believe anything i say?

ROTFL! The source is one of DF's orefices!

BTW, {{{{{HUGS}}}}} DF!

 

[yssie]

Cash only here too, and both sets (mine and FIs) came in under budget!! The wedding thus far, on the other hand...

 

[Italiahaircolor]

I believe in cash only purchases...so whatever you can comfortably afford should dictate your purchase, honestly.

I actually asked my husband about this, since he bought my ring, and he said it was something he saved for. Even before meeting me. He said that he understood a long time before even meeting me that eventually he''d have to plunk down some cash--so he might as well be in the position to do when the time came. He said he saved bonuses and eventually got to the a point that he was comfortable with--it wasn''t based on any salary calculation, it was more or less based off the research he did with his brother when his brother got engaged. However, he did say that he used a reward CC to actually buy the ring, paid it off the following month and used the rewards towards our honeymoon.

I think you have a healthy budget, and you should get something fantastic!

 

[NewEnglandLady]

Add hubby and I to the list of cash buyers. Before he bought anything, we sat down and discussed what we wanted to do with his savings. If you''re going to married, you may as well start with the first big purchase.

 

[feyesbest]

Thanks for all your responses. I got a call back from a jeweler today with pricing for something that looks just like this but without the designer name: http://memoire.com/catalog/collections.aspx?products=1728

It is going to cost $2700 which I feel totally comfortable paying. We''re going to go for it! Sooo excited!

 

[Bliss]

Date: 10/12/2009 6:46:23 AM
Author: bee*

Date: 10/11/2009 9:25:40 PM

Author: Haven

We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

We did the same-only cash for us.

Toot toot! I don't know any PSers who don't pay in cash for our jewelry... we're all smart cookies, I think! The range I've seen personally goes from 7k to 50-60k for first time sets. The NY brides I've seen have stones around 3 carats on average so on the upper range, I would think. It's all relative, though. Lately, solitaires have been smaller and people have been spending a little less overall due to the economy.

On another note...YAY! You're going to have an awesome set.

 

[Sizzle]

Date: 10/12/2009 11:41:55 PM
Author: Bliss

Date: 10/12/2009 6:46:23 AM
Author: bee*

Date: 10/11/2009 9:25:40 PM

Author: Haven

We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

We did the same-only cash for us.

Toot toot! I don''t know any PSers who don''t pay in cash for our jewelry... we''re all smart cookies, I think! The range I''ve seen personally goes from 7k to 50-60k for first time sets. The NY brides I''ve seen have stones around 3 carats on average so on the upper range, I would think. It''s all relative, though. Lately, solitaires have been smaller and people have been spending a little less overall due to the economy.

On another note...YAY! You''re going to have an awesome set.

I personally think there are PLENTY of pricescopers who finance their jewelry and out and out live above their means, they just don''t have the guts or desire to say so... Not that anyone should necessarily put all of their business online, but sometimes when I read things like this I find it rather frustrating. Ideally people will save and sacrifice to get what they want, however history and the current state of the economy and credit card crunch tells us that this is frequently not the case. I think there are several people who will not have the level of bling they originally thought not only because they are being more consious of spending, but because credit just isn''t there to the levels it used to be. I don''t think anyone needs to be told to "Spend what you are comfortable spending" or "spend only what you can pay in cash for" or "its a pesonal decision and it''s up to you".. We all know that. The ultimate choice is ALWAYS up to the individual. I think sometimes people are just curious to know what others are doing... sometimes just to be nosey or to feel normal. We''re CONSTANTLY seeing images of people with GINORMOUS bling and it''s NICE to know that not everyone is buying 20K bling. It''s exciting to see big honkers, but for someone like me who likes sparklies large and small, I like to hear about everyones situation.

 

[Bliss]

Date: 10/12/2009 11:54:27 PM
Author: Sizzle

Date: 10/12/2009 11:41:55 PM

Author: Bliss

Date: 10/12/2009 6:46:23 AM

Author: bee*

Date: 10/11/2009 9:25:40 PM


Author: Haven


We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

We did the same-only cash for us.

Toot toot! I don't know any PSers who don't pay in cash for our jewelry... we're all smart cookies, I think! The range I've seen personally goes from 7k to 50-60k for first time sets. The NY brides I've seen have stones around 3 carats on average so on the upper range, I would think. It's all relative, though. Lately, solitaires have been smaller and people have been spending a little less overall due to the economy.


On another note...YAY! You're going to have an awesome set.

I personally think there are PLENTY of pricescopers who finance their jewelry and out and out live above their means, they just don't have the guts or desire to say so... Not that anyone should necessarily put all of their business online, but sometimes when I read things like this I find it rather frustrating. Ideally people will save and sacrifice to get what they want, however history and the current state of the economy and credit card crunch tells us that this is frequently not the case. I think there are several people who will not have the level of bling they originally thought not only because they are being more consious of spending, but because credit just isn't there to the levels it used to be. I don't think anyone needs to be told to 'Spend what you are comfortable spending' or 'spend only what you can pay in cash for' or 'its a pesonal decision and it's up to you'.. We all know that. The ultimate choice is ALWAYS up to the individual. I think sometimes people are just curious to know what others are doing... sometimes just to be nosey or to feel normal. We're CONSTANTLY seeing images of people with GINORMOUS bling and it's NICE to know that not everyone is buying 20K bling. It's exciting to see big honkers, but for someone like me who likes sparklies large and small, I like to hear about everyones situation.

Hmmmm... well, now you have me thinking!

I honestly assume most if not all PSers pay cash for their bling. I do. Is that not the case? We talk about it on this site all the time. Speaking personally, all of my bling is from PS vendors and they know I always pay in cash as a courtesy. I assume most who post all of the awesome bling here do the same. I read it posted almost every time and I know it's the same for me, so why would I assume that they lie? *shrugs*

I'm aware of the credit crunch and the irresponsible spending habits of many Americans. However, I think PS has a different kind of community. I'm sure there are some outliers, but most of us are smart spenders who would never finance bling. To me, that's crazy. Or am I the crazy one? I don't think so. I think most PSers work hard for their lifestyles and live well within their means. I didn't mean to offend or frustrate you or anyone. I just think the PS community is different. That may be naïve of me and you might be right. I admit I do tend to assume the best and not the worst.

 

[monarch64]

Date: 10/12/2009 11:54:27 PM
Author: Sizzle

Date: 10/12/2009 11:41:55 PM
Author: Bliss

Date: 10/12/2009 6:46:23 AM
Author: bee*

Date: 10/11/2009 9:25:40 PM

Author: Haven

We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

We did the same-only cash for us.

Toot toot! I don't know any PSers who don't pay in cash for our jewelry... we're all smart cookies, I think! The range I've seen personally goes from 7k to 50-60k for first time sets. The NY brides I've seen have stones around 3 carats on average so on the upper range, I would think. It's all relative, though. Lately, solitaires have been smaller and people have been spending a little less overall due to the economy.

On another note...YAY! You're going to have an awesome set.

I personally think there are PLENTY of pricescopers who finance their jewelry and out and out live above their means, they just don't have the guts or desire to say so... Not that anyone should necessarily put all of their business online, but sometimes when I read things like this I find it rather frustrating. Ideally people will save and sacrifice to get what they want, however history and the current state of the economy and credit card crunch tells us that this is frequently not the case. I think there are several people who will not have the level of bling they originally thought not only because they are being more consious of spending, but because credit just isn't there to the levels it used to be. I don't think anyone needs to be told to 'Spend what you are comfortable spending' or 'spend only what you can pay in cash for' or 'its a pesonal decision and it's up to you'.. We all know that. The ultimate choice is ALWAYS up to the individual. I think sometimes people are just curious to know what others are doing... sometimes just to be nosey or to feel normal. We're CONSTANTLY seeing images of people with GINORMOUS bling and it's NICE to know that not everyone is buying 20K bling. It's exciting to see big honkers, but for someone like me who likes sparklies large and small, I like to hear about everyones situation.

You know what? It's very, very refreshing to see a response like this, and I'll go ahead and share something very personal within this thread as far as how much money was spent on my wedding set and how it was paid for. I think I've actually shared it before, and am not ashamed about it.

My marriage, as many of you know by now, is defunct. My e-ring was financed for a few months--my ex-DH paid for it with an upcoming cash bonus--$6200 for a RB, J, SI1 in a plain, platinum tiffany-style 2mm setting. I think, from purchase point to paid off point, it was 3 months...then came the wedding bands...which we also financed, a grand total of $2800 ($2k for my wedding band--1.38carats, platinum, and his was 4 mm 18k WG something or other)...paid off within 3 months. People have DONE that. it's not something to be looked DOWN upon. Is it the smartest decision? Probably not. But does it happen--absolutely. Yes, the wisest thing is to save your money, spend within your means, etc. But is that REALITY? Maybe not. Just sayin'.

 

[goldenstar]

Date: 10/13/2009 12:05:34 AM
Author: Bliss

Date: 10/12/2009 11:54:27 PM

Author: Sizzle

Date: 10/12/2009 11:41:55 PM


Author: Bliss

Date: 10/12/2009 6:46:23 AM


Author: bee*

Date: 10/11/2009 9:25:40 PM



Author: Haven



We paid cash for both my engagement ring and our wedding bands. Add me to the chorus of PSers who advocate spending only what you can *actually* afford, not what you can finance.

We did the same-only cash for us.

Toot toot! I don''t know any PSers who don''t pay in cash for our jewelry... we''re all smart cookies, I think! The range I''ve seen personally goes from 7k to 50-60k for first time sets. The NY brides I''ve seen have stones around 3 carats on average so on the upper range, I would think. It''s all relative, though. Lately, solitaires have been smaller and people have been spending a little less overall due to the economy.



On another note...YAY! You''re going to have an awesome set.

I personally think there are PLENTY of pricescopers who finance their jewelry and out and out live above their means, they just don''t have the guts or desire to say so... Not that anyone should necessarily put all of their business online, but sometimes when I read things like this I find it rather frustrating. Ideally people will save and sacrifice to get what they want, however history and the current state of the economy and credit card crunch tells us that this is frequently not the case. I think there are several people who will not have the level of bling they originally thought not only because they are being more consious of spending, but because credit just isn''t there to the levels it used to be. I don''t think anyone needs to be told to ''Spend what you are comfortable spending'' or ''spend only what you can pay in cash for'' or ''its a pesonal decision and it''s up to you''.. We all know that. The ultimate choice is ALWAYS up to the individual. I think sometimes people are just curious to know what others are doing... sometimes just to be nosey or to feel normal. We''re CONSTANTLY seeing images of people with GINORMOUS bling and it''s NICE to know that not everyone is buying 20K bling. It''s exciting to see big honkers, but for someone like me who likes sparklies large and small, I like to hear about everyones situation.

Hmmmm... well, now you have me thinking!

I honestly assume most if not all PSers pay cash for their bling. I do. Is that not the case? We talk about it on this site all the time. Speaking personally, all of my bling is from PS vendors and they know I always pay in cash as a courtesy. I assume most who post all of the awesome bling here do the same. I read it posted almost every time and I know it''s the same for me, so why would I assume that they lie? *shrugs*


I''m aware of the credit crunch and the irresponsible spending habits of many Americans. However, I think PS has a different kind of community. I''m sure there are some outliers, but most of us are smart spenders who would never finance bling. To me, that''s crazy. Or am I the crazy one? I don''t think so. I think most PSers work hard for their lifestyles and live well within their means. I didn''t mean to offend or frustrate you or anyone. I just think the PS community is different. That may be naïve of me and you might be right. I admit I do tend to assume the best and not the worst.

You know what they say about assumptions...

I don''t think people are lying at all. I think that people who pay cash speak up and people who don''t stay quiet.