How Much Money Should You Spend on a Wedding Ring?

It’s one of the first questions when you decide to get married: how much money should you spend on a wedding ring? The average price of a wedding ring in the United States is $5,598, but that’s quite low compared to the average cost of most countries ($6,082), Canada ($7,877), and Western Europe ($7,863). With all these different prices at different locations, it can be hard to know how much money you should spend on an engagement ring.

The average cost of an engagement ring

The cost of an engagement ring can vary in different parts of the world. The average cost of an engagement ring is now between $2,000 and $5,000 but with prices up to $3 million. Engagement rings have been traditionally made out of metal – gold, platinum, or silver – though they can also be made out of gemstones like diamonds or other precious gems. It’s hard to pinpoint why some people spend more money than others on diamond engagement rings. Still, it seems that it’s more about showcasing love and showing how much you care rather than expensive being better quality in a worldly sense.

Types of Engagement Rings

The first and most important thing to decide when purchasing an engagement ring is what type of ring you want. Three types of rings are white gold or platinum, yellow gold, and diamond. Of these three options, the most expensive one is the diamond engagement ring. The following paragraphs will explain the difference between each type and suggest budgeting your purchase. White gold or platinum-

These two metals have many similarities, but their price point varies. For example, platinum is more expensive than white gold because it has higher purity than its counterpart.

Black Gold- Yellow gold jewelry can be made from pure silver, 22-carat gold, 18-carat rose gold and 14-carat yellow gold. Silver wedding bands may have been popular. But they have fallen out of fashion due to how they tarnish with time. Rosegold’s beautiful rosy hue makes it stand out amongst other colors.