How Much Should You Spend on an Engagement Ring? A Modern Buyer’s Guide
Holiday proposal season often brings excitement, and pressure. One of the most common questions buyers ask is: “How much should I spend on an engagement ring?”
For decades, the jewelry industry pushed the well-known “three-month salary rule,” but modern couples are rewriting the script. Today, the right budget is the one that aligns with your financial comfort, personal values, and long-term goals. This guide helps you understand what truly impacts price and how to make smart, confident choices in By Bonnie’s curated engagement ring collections.
Debunking the “Three-Month Salary Rule”
The traditional guideline is outdated and doesn’t reflect how real couples budget today. In reality, most buyers spend what feels meaningful but reasonable, whether that means selecting a beautifully curated ready-to-ship ring or exploring a custom heirloom-level piece.
Your budget should reflect your priorities: diamond quality, craftsmanship, design, and whether the ring feels personal and symbolic.
The goal is not to hit a formula, it’s to choose a ring that represents your commitment and fits your life.
What Actually Impacts the Price of an Engagement Ring
Four key elements determine the overall cost of an engagement ring:
Carat Weight
Carat has a significant impact on price, but not always proportionally. A difference of 0.1, 0.2 carats can dramatically change cost, especially near benchmark sizes (1.00ct, 1.50ct, 2.00ct). Choosing just under a benchmark often maximizes value.
Cut Quality
Cut is the most important element for beauty. A well-cut diamond reflects more light, appears larger, and looks more brilliant, so it can outperform a bigger stone with a weaker cut.
Metal Choice
Platinum is the highest price tier for durability and prestige, while 18k and 14k gold offer meaningful savings without compromising luxury.
Setting Style
Solitaire settings are typically more economical. Hidden halos, pavé bands, and double halos increase price due to additional diamonds and craftsmanship. However, these enhancements can also elevate smaller or mid-sized center stones.
For buyers who want to understand diamond structure more deeply, the GIA offers helpful educational resources
Quality vs. Size: Which Matters More?
One of the most common mistakes buyers make is prioritizing size over everything else. Larger stones with poor cut, weak clarity, or noticeable tint do not perform beautifully long-term.
If your goal is to create an heirloom-level engagement ring that stands the test of time, quality should always take priority over size. A bright, well-cut diamond delivers the sparkle people remember, far more than an oversized stone with dull performance.
At By Bonnie, we curate diamonds with strict standards to ensure every stone displays exceptional beauty, regardless of carat size.
Sample Budget Ranges and What You Can Expect
Every buyer’s budget is different, but here is a helpful framework for understanding what is possible within common ranges:
Under $5,000
Beautiful solitaires, petite hidden halos, and classic settings featuring curated stones with great performance. Ideal for minimalist aesthetics or first-time diamond buyers.
$5,000–$10,000
Larger carat options, premium oval and emerald cuts, more intricate settings, and enhanced metal choices. A popular range for high-quality engagement rings with significant presence.
$10,000–$20,000
Heirloom-level diamonds with excellent cut, premium clarity and color, and custom or artistic designs. Perfect for buyers wanting standout sparkle and elegant craftsmanship.
$20,000+
Collectors' quality, rare diamonds, and bespoke creations with unique architecture. Exceptional for buyers seeking iconic, editorial-level designs.
No matter your budget, the key is maximizing beauty, performance, and craftsmanship. BBJ’s curated collections make it easy to explore pieces within your range and compare options instantly.
Engagement Rings for Every Budget and Timeline
Whether you're planning a holiday proposal or shopping early for the new year, our Ready-to-Ship Engagement Rings offer luxury without the wait. These pieces are fully completed, photographed, and prepared for fast shipping. Explore the full collection here
For buyers wanting full customization, our bespoke process creates rings tailored to your vision, timeline, and price point, all crafted with By Bonnie’s signature precision.
Shop Engagement Rings That Match Your Modern Budget
Your engagement ring budget should empower you, not overwhelm you. By focusing on quality, design, and thoughtful curation, you can find a ring that reflects your commitment beautifully at any price point.
Shop engagement rings that match your budget and proposal timeline here
Frequently Asked Questions
There is no universal rule. Modern buyers spend what feels meaningful without causing financial stress. Focus on diamond quality, craftsmanship, and design—not outdated formulas like the three-month salary rule. The right budget is the one that supports your goals and feels comfortable for your timeline.
Not today. Most couples choose to allocate what feels personal and realistic. With curated collections and Ready-to-Ship designs at multiple price points, you can find exceptional beauty at nearly any budget—no rigid rules required.
Carat weight and cut have the strongest influence on pricing, followed by clarity, color, metal choice, and setting complexity. Cut quality directly affects brilliance, making it one of the most important factors to prioritize when choosing a diamond.
Absolutely. Selecting intentional carat weights, optimized clarity grades, and timeless setting styles allows you to maximize beauty at any price. Ready-to-Ship BBJ rings are curated for brilliance, craftsmanship, and exceptional value.
Yes. Our Ready-to-Ship Engagement Ring Collection is prepared for fast holiday delivery. Each ring is polished, inspected, and beautifully boxed for gifting—perfect for last-minute proposals without compromising luxury or quality.