I hear a lot of men ask how  much should I spend on an engagement ring or how much does an average engagement ring cost. The answer is simple.

Spend what you are comfortable with. If you go to a jewelry store the salesman will ussually try and tell you that you should spend 2 to 3 moths salary on an engagement ring. I really see no logic in this. Here’s why..

If you spend the time to research diamonds a bit and also if you shop around a bit to find the best price on an engagement ring then you are sure to find a great ring at a price you feel comfortable with. So to answer your question there is no set amount you should spend on an engagement ring.

The only thing I can tell you is that the average engagement ring is 1 carat in size.  Now, not all 1 carat engagement rings cost the same. Diamonds with higher quality will cost more than lower quality ones, platinum or 18 K gold rings will cost more than 14 k gold and you will also pay more for the same ring at your local jewelry store than at a reputable online wholesale dealer in engagement rings.

I have compiled a list of these online dealers and you can view it here.