If you are thinking of getting engaged or have ever thought of marriage, you might have come across the question: how much should I spend on an engagement ring?
The tradition of giving an engagement ring when asking for their hand in marriage has been around for quite some time, and so has the notion of 2 month’s gross salary for the engagement ring.
If you are looking to follow the traditional norms, then you already have your answer. However, if you want to know what the average joe currently spends on an engagement ring then let’s delve deeper into the spending habits of the average South African.
A poll was taken, and the outcome might surprise you. Most South Africans are willing to spend between R10 000 and R35 000 on an engagement ring. The number of people willing to spend more than R35 000 diminishes as we move towards R60 000.
Statistics are all fancy and lovely, but they don’t make decisions for you. We have merely taken a look at the spending habits of most South Africans when it comes to an engagement ring.
Popping the big question is not an everyday occurrence and everyone has their own ideal way of asking the question, thus your budget should be very personalised. No one needs to feel pressured into conforming to a certain pre-set budget, especially in a world where the norms are everchanging and hard to keep up with everything as it is.
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Times and norms are changing a lot faster than most people realise. The younger generation is now leaning towards using diamond alternatives to save money on an engagement ring and the replacing it with something of a higher value later, when they are more stable financially.
An engagement ring is a symbol of love and commitment and many people are coming up with other ways to show this commitment. Some people have even skipped the ring entirely and proposed with a loose diamond or gemstone.
Ultimately, your engagement ring should be more than just an expensive or not so expensive price tag. The options are endless for a stunning engagement ring. You don’t need to spend millions to make your partner feel like a million bucks. Many people have old jewellery that they have inherited and would like to re design. These types of designs carry sentimental value that money cannot buy.
If you have a piece of old jewellery that you would like to repurpose, we suggest speaking to a jeweller who specialises in custom jewellery and who can help you create a design using the materials that you already have.
In the end it all boils down to personal preference. Some people prefer larger, more intricate, expensive rings while others prefer the simpler side of life. Whatever your style is, have a chat with your jeweller to see how you can get more visual miles for you budget.