Hi everyone! I'm new here and new to the whole wedding scene. My boyfriend and I have recently discussed getting engaged and he asked me to pick out some ring styles that I like. Both being naive, we went to a few jewelry stores that everyone knows about (e.g. Tiffany's) to check out some designs in person. One ring was over $40,000, and another we pointed at was $60,000! I'm aware that brand name jewelry stores are overpriced, but now I have no idea where to look and what price range is reasonable. I was so embarrassed.
So, I did some research online to see how much we should spend on a ring. I know the 3 month thing is a hoax. Problem is, everyone says "spend what makes you comfortable" but I don't know what amount that is. Some say, don't bother with a ring at all (ok by me actually) and others say it should be based on your financial situation.
Our situation is that we're both working (though he may go back to school), have a mortgage and both make six figure salaries. Neither of us have any debt other than day-to-day credit card debt. If you go by the 3 month rule, then he should spend $25k! If you take my income into consideration, we could spend more than that (although he wants to buy it himself). But I'm also reading the average cost is $2-5000. What is considered appropriate? Also, where should I be looking? Thanks everyone!