Popping the Question
ask an expert: engagement ringscanada
(May.21.10)
I’ve heard different rumours about how much should be spent on an engagement ring (three months salary?). Are these just old wives’ tales?
Rita G. emailed us at expert@sweetspot.ca, and wedding expert Catherine Lash, answered;
A groom or couple must be realistic about how much they are spending on an engagement ring, the two to three months salary guideline was created by the jewellery industry and should therefore not be taken as a strict standard.
Some people will use a percentage of their overall budget to spend on their rings, wedding bands and engagement ring included, this is anywhere from three to five per cent. This can be helpful if you have already decided on a budget, but most couples have not done that at the engagement stage. It's also worth considering what the cost of the insurance is going to be for the rings you're looking at and also, if the bride wants to only wear one ring, rather than two, a larger part of the budget can be put towards that single band.
The most important thing for a couple to do is prioritize their lifestyle and their wedding budget and spend what they feel comfortable with and what they can afford.
Catherine Lash is the President and Creative Director of The Wedding Co. She can predict the stylistic trends of weddings along the evolving needs of engaged couples. She successfully established the city's only boutique-inspired wedding show nine years ago, which has become known for its exceptional, handpicked talent.
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**Rings in image include Tiffany Embrace ($6,950), Jean Schlumbinger Bud Ring ($36,800) and Lucida Diamond Ring (Price upon Request).