How Much to Spend on an Engagement Ring

There are few purchases that come with as much emotional weight and significance as an engagement ring. Not only does it symbolize a beautiful commitment between two people, but it is also often seen as a reflection of one's love and affection. One question that always arises during this exciting time is, "How much should I spend on an engagement ring?" At Kravit Jewelers, with our three generations of experience, trust, and knowledge, we understand the complexity of this question and aim to guide you through the process.

The History of Engagement Rings

Engagement rings have a long and rich history, serving as symbols of unity and commitment. Over time, these symbols have been imbued with a sense of monetary value, largely due to marketing efforts. Understanding this history is key to navigating the engagement ring-buying process today.

Debunking the "Two Months' Salary" Myth

A common guideline thrown around is that one should spend "two months' salary" on an engagement ring. But how accurate is this rule, really? It originated as a marketing strategy in the mid-20th century and while it may still hold relevance for some, we believe that an engagement ring's value should not be based solely on a person's income. Instead, it should reflect a personal choice based on a variety of factors.

Factors to Consider When Budgeting for an Engagement Ring

Understanding Your Financial Situation

Before stepping into our store in Oceanside, NY, or browsing through our collections online, consider your financial status. This includes your monthly income, savings, and financial commitments and goals. Remember, an engagement ring is a symbol of love, not a measure of financial capability.

Your Partner's Expectations and Taste

It's crucial to consider your partner's expectations and taste in jewelry. At Kravit Jewelers, our consultants are ready to assist you in understanding various styles, cuts, and designs that might appeal to your partner. A conversation about expectations can be very enlightening and rewarding.

Ring Attributes

Choosing a ring involves more than just picking the biggest diamond. You should consider the four Cs - Carat, Cut, Clarity, and Color. Along with these, consider the setting and metal of the ring. Our Kravit Jewelers experts are on hand to guide you through this intricate process.

Understanding Pricing

Understanding the pricing of diamonds and the hidden costs like insurance and maintenance is key. Our team at Kravit Jewelers offers a transparent approach to pricing, ensuring you understand what you're paying for.

Ways to Save on an Engagement Ring

Don't let the price tag deter you. Consider options like buying loose diamonds and customizing your ring or opting for alternative gemstones. Shopping during sales or considering pre-owned rings can also make your dream ring more affordable.

Engagement Ring Financing Options

At Kravit Jewelers, we offer various financing options, including jeweler-specific financing programs. It's important to weigh the pros and cons of each option to make an informed decision.

Remember, the perfect engagement ring is one that best reflects the unique bond between you and your partner, not one that breaks the bank.


Ready to take the next step in your journey? Make an appointment with our experts at Kravit Jewelers, and let's find the perfect engagement ring that aligns with your budget, style, and values.

Do you have an engagement ring-buying story to share? We’d love to hear about your experiences on our contact page or social media channels. Your journey could inspire others and help them make informed decisions. At Kravit Jewelers, we believe in building a community bonded by love and trust, and your stories play a crucial part in that.

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