Getting married is one of the biggest moments of your and your partner’s lives. You want the moment to be special and memorable for the both of you. But before saying “I do,” you’ll need to buy a wedding ring. So, how much should you spend?
With that in mind, here are some tips when determining how much to spend on a wedding ring.
How much money you should spend on your wedding ring depends on a lot of factors, including your style and budget.
Before you go shopping for a wedding ring, have an honest conversation with your partner about how much you’re both comfortable spending. If your partner is planning to spend $500, but you’re looking at $1,500 rings, it’s best to get on the same page.
A budget will also help you understand what you can afford, and what style of wedding ring you should look for. Plain wedding bands can cost anywhere between $250 to $1,500 for women, depending on the metal. Bands that are larger, more intricate, or have diamonds (or other stones), can jump to anywhere between $1,000 to $6,000. This puts the average woman’s wedding ring cost at around $1,400.
Material and the wedding band’s weight will largely determine its cost. Yellow gold, white gold, and rose gold are less expensive than rings made of platinum, which is the most expensive metal.
The cost of white, yellow, or rose gold rings will depend on how many karats they are; the more karats, the more expensive it will be. However, it’s important to keep in mind that white gold needs to be rhodium-plated every few years, as it will eventually yellow.
For budget-conscious couples, tungsten is a more affordable option and is a very strong and scratch-resistant metal. Wood, ceramic, and silicone are also popular for their unique style, and they are typically less expensive—especially silicone, which only costs around $30 per ring.
Your wedding ring’s width will also play a factor in how much it costs. A thin band is one to three millimeters, a medium band is four to six millimeters, and a thick band ranges from seven to 10 millimeters. The thicker the band, the more material is needed, thus increasing the cost.
If you’re going to get a wedding ring that has some bling, expect to open your checkbook a bit more. For wedding rings with diamonds, prices are based on the “four Cs” of the diamonds: cut, carat, color, and clarity. The four Cs apply to both natural and lab-grown diamonds and are used collectively to rate the overall diamond quality.
Wedding rings with diamonds that are highly rated (think clear diamonds, expensive cuts, etc.) are going to cost more than a ring with lower-quality stones. You may also prefer pre-owned or vintage wedding rings, and the prices of these unique pieces can greatly vary.
How much you should spend on a wedding ring will also depend on your lifestyle and the type of work you do. If you’re a personal trainer, for example, and you’re used to lifting heavy weights, you’ll want a flatter wedding ring, as opposed to a raised one that could easily get scratched or dented. Your lifestyle will help you determine what type of material you need, too: Gold is more malleable, whereas platinum is more durable.
For people who also wear engagement rings, you want your wedding ring to match, or at least compliment its style. Some people opt to have their wedding ring made by the same jeweler who designed their engagement ring so that they are the same material and aesthetic. This is also a popular option for people who have uniquely shaped engagement rings, and who want their wedding band to fit within its curves—also known as “enhancers.”
Do you and your partner want your wedding rings to match? Some couples want their wedding bands to match one another, while others are OK with having different designs. If you’re going the matching route, you may be able to score a better price from a jeweler if they offer discounts for purchasing more than one wedding band—it never hurts to ask.
If you don’t want your wedding ring to match your partner’s, you’ll still need to consider how much both rings will cost in total. Because both people will exchange rings at your ceremony, you should factor in that cost when determining your total wedding budget. Wedding rings are an expense that couples often overlook when it comes to wedding planning budgeting.
There is no right or wrong amount of money to spend on your dream ring. It’s a largely personal choice that will depend on many factors, including your budget, lifestyle, and personal style preferences. Whether you spend a reasonable amount or a lot, you and your partner need to be on the same page when it comes to wedding ring costs. You want your wedding ring to last you your entire life—not break the bank before you even put it on.