Q: How many weeks’/months’ salary should the engagement ring cost?
A: The myth that you have to spend a certain amount of money on an engagement ring – anywhere from one to three months’ pay, usually – is just that, a myth. It was created by the diamond industry and should be completely ignored. What you spend is what you can afford. It is great to buy the nicest ring you can within your budget. Sometimes that means you might sacrifice a little on size in order to purchase the stone with the best cut, clarity, and quality that meets your financial plan. Be sure to work with a reputable jeweler and pay no attention to those who tell you that there is a standard for how much you pay.