How Much Should You Spend on an Engagement Ring? – Advice & Inspiration

The question of how much an engagement ring ‘should’ cost is one of the most common we get asked. The answer? There’s no right or wrong amount. The most important thing is that you find a ring that feels right for you both, emotionally and financially. Here, we’ll look at what affects the price and how you can find the best possible value.

The ‘Three Months’ Salary’ Myth

You’ve probably heard the rule of thumb that an engagement ring should cost two to three months’ salary. This stems from an advertising campaign from the 1930s and has very little to do with reality today.

In Sweden, the average price of an engagement ring is somewhere between 10,000 and 30,000 kronor, but there’s a wide range. The most important thing is that you choose an amount that feels comfortable for your finances. Starting a life together with financial stress is not a good start.

What affects the price of an engagement ring?

The price of an engagement ring is determined by several interrelated factors. Understanding them will help you prioritise what’s most important to you.

The
Diamond The diamond often accounts for the largest part of the cost. The four Cs – cut, carat weight, clarity and colour – together determine the diamond’s price. A larger diamond with higher specifications naturally costs more, but there are smart ways to get more for your money.

The Metal
The choice of metal affects the price. 18-carat gold costs more than 14-carat, which in turn costs more than 9-carat. White gold and yellow gold of the same carat weight are generally in roughly the same price range.

Ring
design A simple solitaire with a single diamond is generally more affordable than a halo ring with many small stones, or a band ring with diamonds all the way round the shank.

Natural vs lab-grown diamonds
Choosing a lab-grown diamond instead of a natural one can significantly reduce the price – often by 50–70 per cent for the same size and quality. It is one of the most effective ways to get a larger and more beautiful diamond within your budget.