How Much Should An Engagement Ring Cost?

Lara Bingle’s was $200,000 and Miranda Kerr’s is rumoured to be between $65,000 and a whopping $520,000 – but there’s no need to panic because new research released today from has revealed most Australian women are actually thinking more about their financial future and less about the size of the diamond when it comes to engagement rings and expensive jewellery.

70% of Aussie women say they would still like a great looking engagement ring, but would prefer guys not to splash out on a really expensive rock so they can put the extra money towards saving for a house deposit or a honeymoon.

44% of Australian women would like whatever their partner decides when it comes to engagement rings but 65% of Aussie men don’t feel confident when purchasing jewellery and either always ask for assistance or find buying it intimidating and confusing.

So how much should an engagement ring cost?

Mark, 25, from NSW says, “I thought it was supposed to be three months pay. I don’t think my girlfriend would be happy if it was any less than that. Women seem to be so competitive when it comes to the size of their rock these days.”

But Jo, 30, from WA disagrees saying it should be whatever guys can afford. “An engagement ring’s worth is in its sentimentality, not in its size,” he adds.

So what do you think? How much should an engagement ring cost?

For engagement ring trends click here

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Posted by Sarah3625Report
As long as he is able to make his lady happy, the price of a ring wouldn't matter at all. My then-boyfriend (now fiance) made me a princess for a day when he proposed to me and gave me the most beautiful diamond engagement ring I've ever seen. I will never forget that day. He said "proposing to a woman is every man's pride and joy--and every girl's dream. It is about sentimentality and remembrance. It is about love." Of course I said yes.
Posted by Therese122Report
I agree with Katie. It should be what the guy can afford and what amount wouldn't put him in debt. Starting off your married life with a debt poses a greater threat to the marriage than the problem of an inexpensive ring. That being said, here are tips on how to lower the costs of your ring when shopping for one
Posted by AmandaReport
It depends on what social circle they hang around. Men are just as in compition. Russ my partner made sure he found a platinum ring with the biggest diamond he could afford. Then he got the wedding band made with pink sapphires that look like pink diamonds. Then he said that in the future he would change the engagment diamond to a bgger one in the future. I think it is such a waste of money. His dad has a circle of friends that he and himself are weathly and their wives have big cracker diamond sparklers.
Posted by alkie!Report
3 months pay seems reasonable to me.