You don't need to spend two months' salary on an engagement ring if it will strain your finances. Consider the costs and weigh the factors in this guide.
Average Engagement Ring - 1.3-carat Center Stone, $5,500 Price Tag December 24, 20 by John Jeffay
(IDEX Online) - The average spend on an engagement ring fell slightly in the US to $5,500 this year.
That s according to a survey on 5,000 newly-engaged individuals for online wedding website
The Knot.
It dipped slightly from $5,900 in 2019 as one in eight couples shopped virtually for a ring. But the pandemic had only a minimal effect on their spend, said The Knot 2020 Jewelry & Engagement Study.
The most popular cut for the center stone remains round (43 per cent), followed princess/square (13 per cent) a
nd oval (15 per cent). The average size was 1.3-carat.