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Two Months Salary?!

So now that my intro's out of the way... onto needing advice.How did you/ are you guys setting a budget for a ring? I feel like 2 months salary is a high figure that no one uses anymore.  How did you as a couple go through the process?TIA

Re: Two Months Salary?!

  • magsugar13magsugar13 member
    Knottie Warrior 100 Comments
    edited December 2011
    Why not wait until he gets a promotion form McDonalds?
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  • traciecooktraciecook member
    edited December 2011
    I did not give my BF a budget, I figure he will spend what he wants to on a ring.
  • edited December 2011
    BF and I had this convo the other night, actually. When I was out peeking at rings (as he instructed me to do), the lady in the store pulled out the most OMGBEAUTIFUL ring I have ever seen. Said ring was a three-stone radiant cut bling festival that rang in at a 'mere' $5,995.00. I told him I was stunned at the idea of spending so much money on a ring, but it was gorgeous and I loved the radiant cut diamonds. Anyway, he asked me what I thought I'd want someone to spend on a ring for me, and I pretty much said "You know, I'm not really sure. Whatever you are comfortable with, I'm comfortable with- it seems like the average amount is like, $2000, but I don't know. Maybe around there? Whatever. lol." He seemed pretty satisfied with that answer. So, I really think it has more to do with what he's comfortable spending and what you want/like. Two months salary really isn't that big of a number anymore- I read somewhere that now some places are using 6-months salary as a 'good rule of thumb' and I'm like 'ARE YOU KIDDING?! BUY AN EFFIN' HOUSE WITH THAT MONEY!' lolAnd if you go vintage, there are some gorgeous rings that were mined cut, so you spend less but they're really nice (if you're into that).These are my current faves: http://faycullen.com/engagement_rings/800/gc416r3d.htmlhttp://faycullen.com/engagement_rings/800/gc605r5d.htmlhttp://faycullen.com/engagement_rings/800/g209r5d.html
  • edited December 2011
    lovethebeach- really? Those are my inspiration rings- someone sent me the link so I've been using them to kind of describe what I like to the BF. lol I'll have to drag him into those stores now (or scope them out for myself first!). Most places I went into didn't actually have anything vintage looking that I saw, but they all said they could do a custom design (of course, no idea how much).Thanks for the info!! Sorry to hijack!
  • edited December 2011
    oooh..I love your ring LTB!BTW- your bridal badge is amazing. ;)
  • edited December 2011
    My E-ring was free (it was my grandmother's), and the materials for my wedding band were also free (my other grandmother), so we never really had this conversation.  We did get an estimate to have my wedding band custom made, and it was $1600, which I thought was a little much, so we're going to keep looking for a lower estimate. It really all boils down to what type of ring you want and what you're both comfortable spending.  You can always buy a nice setting and put a sapphire or moissanite or something in it and upgrade to a better stone or diamond later.  Two months salary is a really arbitrary number; I think it was just invented by either the wedding industry or a horde of soon-to-be-engaged-girls that wanted their guys to think they had to save for months and months to get the perfect ring. As a side note, those of you looking for vintage rings, ross-simons.com sells estate jewelry and some of it is vintage engagment rings.  I've gotten a few things from them (that weren't estate jewelry) and they're always in great condition and really fast.  I don't see why they're vintage stuff would be any different.  :)
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  • edited December 2011
    It's really up to you guys and what you can afford.  My diamond is an heirloom from FI's family.  I love it.  FI picked out the setting with a jeweler his family uses a lot.  I wasn't involved in the process.  I told him I wanted a solitaire with white gold.  He didn't really listen to that and got a band with little diamonds instead.  (Can you tell I know nothing about e-rings?)  I love my ring though.
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  • edited December 2011
    I let my FI decide what he wanted to spend.  He's usually pretty good with finances, so I trusted him not to spend more than he could afford.  In the end, I think he spent too much for a piece of jewelry, but it's his money, it was a gift, and he didn't go into debt for it.  And I do love it.It was easier for us to keep money very separate here because we don't live together.  We don't share finances at all.  If you DO share finances with your BF, you might need to have a conversation about where you'll save this money. His money alone? Would you/he be okay with you chipping in from mutual savings? Etc. 
  • edited December 2011
    I said: "If you go over $1,000 I will punch you in your face."So, he spent exactly $1,000. Easy-peasy! :D
  • edited December 2011
    ROFL jeana!! Apparently, threats of physical harm work wonders. :)  
  • MidniteRaeMidniteRae member
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    edited December 2011
    my BF is going to spend what he wants to spend. Probably not more than equal to 3 months pay. He's the one paying for it, so it's up to him how much he wants to spend/can afford.And I'm waiting patiently..*looks at the board I'm on*..okay not so patiently.lol
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  • edited December 2011
    FI set a budget and we went shopping together. When we finally found the ring it was about $1,000 over budget. We got them to knock a few hundred off and he decided to buy it! He had the cashed saved in the amount that he budgeted, but he was ok going a little over because we both love the ring and it was at a great price to begin with (it apraises for about $3,000 more than he paid) To answer you question, yes it was about 2 months salary, but that was just what he felt comfortable with, he really wanted to save and pay cash for most of it.
  • I just did the math: my ring set cost about 1.5 month salary AFTER tax.....but appraises for a couple thousand more? I honestly had nothing to do with the budget though- that was all him.
  • salt78salt78 member
    edited December 2011
    I wouldn't settle for any less than 3 carats.
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  • edited December 2011
    As a couple who'd been together long enough that I was managing our finances pretty much entirely, my FI asked me how much he was allowed to spend, lol!  We had already decided to get married, but I assumed we were still planning on the courthouse so I told him it couldn't cost more than 20% of his monthly income.  He stayed within those bounds and I ADORE my ring, even if our insurance provider says it's not worth enough to count as an engagement ring on our policy!He did propose romantically, though, and we're planning a "real" wedding that will certainly cost more than 20% of our monthly income!
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  • edited December 2011
    When we started looking we didn't place our decision on salary. He knew from the get go how much he wanted to spend which was ridiculously high. I was ready to settle for something around the $1,000 range. We went together to look at a few rings and he made it clear that his was a once in a lifetime deal and that he wanted to get me something really nice.He gave my a budget (which again was ridiculously high)and  we went to look at rings. As it turned out, the one ring I tried on(and got emotional and cried about) happened to be a ring that was half of the budget he had given me(thank god because I never would have felt comfortable choosing a ring that expensive).We have official chosen that ring as THE ring.
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