Is 10k too much for an engagement ring?

 Is 10k too much for an engagement ring?

Ah, the age-old question: is $10,000 too much to spend on an engagement ring? Well, my friend, the answer is not as clear-cut as you might think. But fear not, for we’re here to guide you through the maze of budgeting, expectations, and good old-fashioned romance.

• Your budget & other financial commitments

First things first, let’s address the elephant in the room – your budget. Unless you’re rolling in dough like Scrooge McDuck, you’ll need to consider competing financial priorities. Are you still paying off those HECS fees from uni? Saving for a house deposit together? These are the real-world constraints that can make or break your ring-buying dreams. Consider getting her in on the act?

• Expectations of others

Next up, consider the expectations of those around you. What do her friends and family expect? In some cultures, the engagement ring is part of a dowry, while in others, it’s simply a statement of love and commitment. And let’s not forget the social currency of flaunting that bling – she’ll be showing off her ring to everyone from her workmates to the barista at her favourite café. So it better not be an embarrassment!

• Smart budget solution

Now, let’s talk diamonds. If you’re more pauper than prince, fear not – there are still ways to wow her without breaking the bank. Consider opting for a fancy shape diamond, which can cost up to a third less than the classic round cut. With $10,000 in your pocket, you could snag a 1-carat benchmark stone with a few imperfections that are hardly visible to the naked eye.

• Smart no-budget solution

On the flip side, if you’re the prince to her pauper, there’s an expectation that you’ll dig deep into your pockets for that perfect ring. But remember, it’s not just about the size of the rock – it’s about the sentiment behind it. And hey, if you’re feeling overwhelmed by all the options out there, just remember that you’re doing exactly what you should be doing – researching like a pro.

• Research partners

And speaking of research, don’t forget to enlist the help of her friends and maybe even her family. They know her better than anyone and can offer invaluable insights into her style and preferences. Plus, the fact that you’ve put in the effort to do your homework will earn you major brownie points in her book.

• Three months’ salary – pfffff!

Now, as for the age-old adage of spending three months’ salary on an engagement ring – let’s just say that De Beers might be a tad biased. 

At the end of the day, the most important thing is that you’re presenting her with a ring that’s as deserving of her love as she is of yours. And if she turns her nose up at anything less than a 2-carat rock, well, perhaps she’s not the one for you after all.