BUYING THE ENGAGMENT RING

In the past, it has always been the sole responsibility of the man to go out and choose, then buy, the engagment ring and typically this is still the case. However in recent times it is not uncommon for couples to choose the ring together.

Sometimes the man simply proposes to the woman (without a ring, or with a ring that is a family heirloom) and then the happy couple proceed to shop for the ring together. On other occasions the couple discuss the possibility of engagement, go out and buy a ring and then go somewhere romantic to celebrate. All that said, the majority of engagements still follow the traditional route of the man proposing to an unaware partner with the ring he has carefully chosen and budgeted for in a location that they will remember forever (ah bless!).

So how much should be spent on the ring? Well the simple answer is that the value is not important, it’s a purchase that should come from the heart – after all, a £50k diamond studded platinum band will not make her love you any more than a £50 topaz on white gold (or if it does, make sure that she isn’t just marrying you for your money!)

Traditionally an engagment ring cost the equivalent to one month’s salary, but times have changed. If you are setting your budget on your own, you can really decide how much you can afford to spend (or how much you need to save for before you can afford the ring that you think she’ll love!). The best piece of advice would be to work out what you want and then decide whether or not you can afford it. Compromises can always be made, such as tweaking the design to bring it under budget, or waiting a few months to be able to pay for it outright. These days, there are many hundreds of companies out there who are willing to issue loans, but before you go down this route, ask yourself firstly whether it is the sensible option, secondly whether you can afford to take on the loan and thirdly whether the debt is the best way to begin the married journey!