Setting a budget for an engagement ring is a personal decision.
In the past it was often heard that you should save two to three month's salary to determine the budget for your engagement ring. No matter what the amount, it is important that you are comfortable with your budget. When you are comfortable with your budget you can focus on the style and design decisions that allow you to create or find a ring that will be cherished for a lifetime.
Beware of financing an engagement ring. In the long run, financing is actually more expensive. Realize that financing a $2,000 ring could turn into a $3,500 purchase.
When establishing the budget for an engagement ring, the amount should cover the costs of the diamond and the mounting. Keep your fiance's style in mind when considering the ring. Everyone is different in their approach to establishing a budget and buying an engagement ring.
As a personal jeweler I take the time to review the facts about all the costs associated with a ring to help you determine your personal budget.