How Much You Should Spend on an Engagement Ring and Why

Jewelers often receive lots of questions from their customers about buying engagement rings. One of the most popular items involves the typical monetary amount they should spend on them.

This does not mean the expected cost of an engagement ring, but rather estimates your budget for this substantial investment. Jewelers are willing to work within the confines of your bank account, because they recognize that not all customers are the same.

For several years, jewelry experts have circulated the myth that you should devote three months’ salary towards buying an engagement ring. In this article, we glance at the truth behind this adage, discuss the expense you should actually plan to pay, and look at the things that determine this number.

Examining the Three Months’ Salary Rule

During the Great Depression, the diamond industry could no longer generate a profit in the face of the nation’s economic downturn. As a result, De Beers created a marketing campaign that would hopefully draw their customers back and inspire them to purchase diamond rings.

Since diamonds had not yet evolved into the standard gemstone for engagement rings, the company ventured the idea that diamonds were the most quintessential symbol of a man’s love. The campaign also encouraged gentlemen to save their paychecks for one month, so they could afford the ring. This figure eventually increased by another month, and in the 1980s, shoppers were setting aside three months’ worth of their salary.

Nothing is inherently wrong with using this rule as a guideline, but it shouldn’t weigh into your ultimate decision. Remember that it originated in an era when couples got married at a younger age, still lived with their parents, and carried fewer bills. If you choose this route anyway, we recommend sticking to the original one-month variation – or you could start at this number and work your way towards the suggested amount.

The Average Cost of an Engagement Ring

Jewelry experts have found that, on average, shoppers pay between $3,750 and $6,350 for an engagement ring. However, these prices account for a mediocre diamond with an approximate weight of a single carat that’s set in the most common metal. Higher-quality diamonds and settings will raise the cost.

You shouldn’t propose with a cheap engagement ring, especially if your girlfriend thinks that you were just trying to save money!

Because she is incredibly special, she deserves a more impressive piece of jewelry. But you don’t exactly want to break the bank, either. Instead, you should work to find a price that you can both accept.

Not sure how to do that? Here are a few things you should consider.

Your Financial Situation

You will run into several investments throughout your married life, such as a new house, a new car, and of course, starting a family. And it’s not ideal to find yourselves burdened with debt after you spent too much money on the engagement ring.

We suggest that you establish a budget along with your future wife, so that you’ll know the ideal price for her ring when you begin shopping. Then, bring up this number at the first meeting with your jeweler, and they can create a framework to choose your perfect engagement ring.

The Significance of the Engagement Ring

It’s no secret that your engagement ring will carry a symbolic meaning for you and your future spouse. After all, it represents your lasting love and commitment to one another. When you consider this fact, it might influence the amount of money you devote to this investment. As the old saying goes, you can’t put a price tag on happiness.

Your Fiancée’s Preferences

For your fiancée, her engagement ring will serve as the ultimate status symbol. She’ll obviously want to make everyone jealous when she flaunts her sparkler around family and friends. Among other things, you need to find out the shape of the diamond which she desires, the color of jewelry that fits her best, and the setting that matches her style. Have a casual conversation with her about these aspects, then bring these notes to the jeweler and let them search for the perfect engagement ring.

Come Visit Your Local Jeweler

We know that it can be emotionally and financially scary to buy an engagement ring. At Anne Dale Jewelers, we can put those fears to rest with our vast selection of diamonds and other gemstones. Meet with a GIA-certified gemologist and master craftsman who will help you decide on the best engagement ring for your budget and fiancée’s unique tastes. Browse our newly expanded gallery, or create a customized design just for you!

Stop by our new location at 829 Asbury Drive, or contact us at (985) 626-4266.

Ten Years Later

At the tenth anniversary of hurricane Katrina Congressman Steve Scalise wears one of the original “badges”.  Originally only twelve pendants were made as worn by Scalise here with President George W Bush and his wife Laura.

Continue reading →

Custom Jeweler Designs

Escape the hustle of the mall, uncertainly of the internet and the pressure those high volume jewelry stores. Journey to a simpler place… lets make something uniquely beautiful.

Whether you are coming from New Orleans or a North Shore native Your Forever Starts Here in our “little” jewelry shop that is the Heart of Mandeville.

Since 1983 Anne Dale has had the pleasure of serving Greater New Orleans LOVE stories one customer at a time.

We want to be your custom jeweler and believe you should be a involved in your engagement ring design process.

If you desire a special one-of-a- kind diamond engagement ring design a truly unique expression your love that is what we do best.

Know exactly what she wants – great! Allow us to craft your ideas from scratch into the ring of her dreams.

Not 100% set on a particular design, no worries – let’s work together customizing of one of our existing models just for her.

You simply refine or combine ideas from any of the hundreds of our in store diamond engagement rings to accommodate the shape and size of your selected main diamond. We then create the mounting in precious gold (any karat and color) or platinum, set the diamonds and polish it to perfection.

It your story – your engagement ring should be as unique as the love you have for each other. Allow us to be part of that story – Your Forever Starts Here.

Big things come in that small Anne Dale box… allow us to create the perfect fine jewelry for yourself or the LOVE of your life. New Orleans only European trained gemologist and jewelry designer Anne Dale known for her diamond engagement ring designs, Love New Orleans Collection, Jeweler for a Cause® Collection, and the new Official Louisiana state gemstone LaPearlite® Collection.

Master Goldsmith and Certified Gemologist – Anne Dale is one of the best nearby jewelers located in the Heart of Mandeville.

New Orleans Saint Joseph Altar

A tradition dating back to the 1800’s when Sicilian immigrants that came to the area seeking a better way of life. Most were framers that found the New Orleans region somewhat similar Sicily’s climate for growing produce. They brought with them great food, music and their Catholic faith.

Continue reading →