Q: My son heard that it is customary that the groom invest the equivalent of three months of his salary on an engagement ring. Is this true?
A: The myth that the groom has to spend a certain amount of money on an engagement ring — anywhere from one to three month’s pay, usually — is just that, a myth. It was created by the diamond industry and should be completely ignored. What the groom spends is what he can afford. It is great to buy the nicest ring he can within his budget. Sometimes that means he might sacrifice a little on size in order to purchase a stone with the best cut, clarity and quality that meets he financial plan. He should be sure to work with a reputable jeweler and pay no attention to those who tell him that there is a standard for how much he should pay.