Your Engagement Ring Should Be Worth Three Months Of Your Partner’s Salary, According To A Rule Of Thumb That Became Popularized In The 1980s
As a woman hoping to one day get engaged, I always wondered what thought process people go through before buying their partners an engagement ring.
Most of the time, engagements are a ‘surprise,’ while you and your partner most likely talk about getting married beforehand, popping the question and what the ring looks like is usually a surprise.
So, I’ve always wondered how people go about buying engagement rings without trying to consult their partners. How do they decide how much they want to pay?
Since the 1980s, there has been a popular rule of thumb in the diamond retail industry that men should buy their future wives a diamond ring worth three months of their salary, dubbed the “three months’ salary” rule.
But these days, people are setting their own rules when it comes to buying engagement rings, making us wonder, does anyone follow the “three months’ salary rule” anymore?
While the “three months’ salary rule” started becoming popular in the 1980s, in the 1930s, during the Great Depression, De Beers jewelers needed some way to increase the sales of their diamond engagement rings. So, they launched a new marketing campaign that told buyers they should buy their partners diamond rings worth one month’s salary to prove their everlasting commitment.
The campaign was a big success, and in the 1980s, the marketing campaign increased the ring value to three months’ salary.
But when it comes to buying engagement rings today, things work a little differently. Nowadays, more women and others are more upfront with their partners about what kind of engagement ring they want.
I’ve heard of women showing their boyfriends Pinterest boards with pictures of the ring style they want, cut, color, karat, etc. So, when people buy engagement rings, instead of going into a jeweler with a specific price in mind, they’re going in with a specific style in mind.
rostyslav84 – stock.adobe.com – illustrative purposes only, not the actual person
However, just because your partner wants a specific engagement ring style doesn’t mean you have to break the bank or go into debt.
You can speak with a jeweler about seeing how that particular engagement ring style would work with your budget and find ways to make a ring work for you.
If you are ever stressed about how much money you’ll spend on an engagement ring, it’s a good idea to talk to your partner and let them know how much you’re comfortable spending.
It doesn’t have to ruin the surprise element of an engagement, but it will help both of you get on the same page.
At the end of the day, you should spend however much you want on an engagement ring. The “three months’ salary” rule is no longer the be-all and end-all.
You can always get your partner a ring that works for your financial situation now, and then, if you’re making more money in the future, upgrade it as an anniversary gift!
As long as you remember to enjoy the process of getting an engagement ring and focus more on the sentimental value, you’ll be fine. Happy shopping!
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