Is the Three-Month Salary Rule for Engagement Rings Outdated?

Let’s start with the famous (or infamous) three-month salary rule. This classic rule suggests that you should spend three months’ salary on a ring. While this may have made sense back in the day, it’s not the one-size-fits-all answer anymore.

Think about it: everyone’s financial situation is different. Why would a set formula work for everyone? Plus, with so many beautiful options on the market today (from lab-grown diamonds to custom designs), you can find a stunning ring without following any strict formula.

If you ask us, the only rule you need is to set an “engagement ring budget” that aligns with your priorities and finances. Remember, this ring is about celebrating your love—not impressing anyone with a specific price tag.

So, how much should you spend? Here’s what really matters:

1. Know Your Priorities: Do you want a big diamond? A vintage design? A unique custom piece? Your engagement ring budget should reflect what’s most important to you.
2. Be Realistic: Spending within your means is essential. It’s better to start your marriage without unnecessary financial stress.
3. Explore Your Options: There are endless choices to consider, from alternative gemstones to lab-grown diamonds. Don’t let the three-month rule box you in.

The Reality of Today’s Engagement Ring Market

Today’s market is bursting with choices, from high-end diamonds to sustainable, lab-grown options. And these options can vary wildly in price. This flexibility allows couples to create an engagement ring budget that fits their style, values, and finances.

An engagement ring can be as unique as your love story. Consider a few questions as you begin your search:

• Do you prefer traditional or non-traditional designs?
• Are you open to alternative gemstones like sapphires, emeralds, or even colorful stones?
• Does sustainability matter to you?

The beauty of today’s engagement ring options is that you can find or create something that matches both your tastes and budget.

Lab-Grown Diamonds vs. Natural Diamonds: Which Should You Choose?

Here’s a hot topic: lab-grown diamonds vs. natural diamonds. Which one should you choose? Here’s the scoop:

1. Natural Diamonds
   Natural diamonds are formed over millions of years deep within the earth. Each diamond is unique, carrying its own story. Many people see natural diamonds as timeless, and they’re often cherished as family heirlooms.
   Pros: They hold value and have a certain romance attached to them. Natural diamonds are a classic choice.
   Cons: They’re usually more expensive and have environmental impacts related to mining.
   
   
2. Lab-Grown Diamonds
   Lab-grown diamonds are identical to natural diamonds in appearance and structure. The main difference? They’re made in a lab. These diamonds are ethical, sustainable, and come at a fraction of the cost.
   Pros: They’re environmentally friendly, affordable, and conflict-free. Plus, they offer incredible value for your engagement ring budget.
   Cons: They may lack the mystique of a natural diamond. Some people feel they’re less “special” due to their laboratory origin.

So, how do you decide? Ultimately, it’s a personal choice. Natural diamonds have historical value, but lab-grown diamonds offer a modern, eco-friendly option that’s kinder to your budget.

Where to Buy Natural and Lab-Grown Diamonds

You’re in luc!. Stór by Margot carries both these sparkling stones. We are transparent about the origins and quality of the diamonds we sell as they are certified and selected by a diamond specialist. A Stór by Margot Diamond is always hand selected. Each stone is carefully chosen to best meet our clients specifications. Our GIA and IGI certified team of experts is involved with every stone, ensuring the perfect match.

Curious how to find a stone that speaks to your personality, fits your style, and, of course, looks fabulous on your hand? With so many options out there, from classic diamonds to bold, colourful gems, The Ultimate Guide For Choosing The Right Stone For Your Engagement Ring breaks it down and helps you choose the one that’s just right for you.

Crafting Your Ideal Engagement Ring Budget

Now that you have a better idea of what’s available, let’s talk budget. Here’s how to create an engagement ring budget that works for you:

1. Start with a Realistic Range
   Set a minimum and maximum price you’re willing to spend. This gives you flexibility as you shop without feeling overwhelmed.
   
   
2. Focus on What Matters Most
   Decide what’s most important. Is it size, cut, clarity, or overall design? Prioritize one or two key aspects, and remember you can always upgrade later if needed.
   
   
3. Allow Room for Surprises
   Sometimes you find the ring that’s just a little over budget. If it’s within reason, go for it! This ring marks a huge moment, so a little flexibility is okay.
   
   
4. Consider Future Investments
   Some people choose a smaller engagement ring now and plan for upgrades on anniversaries. You could also set aside funds for a matching wedding band or a custom piece later.

Key Takeaways: How Much Should I Spend On An Engagement Ring?

The search for the perfect engagement ring is a special journey. While budgeting might feel a bit daunting, remember these key takeaways:

• Forget Outdated Rules: The three-month salary guideline is not set in stone. Create an engagement ring budget that makes sense for you.
• Explore All Options: From lab-grown diamonds to alternative gemstones, today’s market offers something for everyone.
• Prioritize Value and Meaning: The ring you choose should symbolize your love, not your bank account.
• Have Fun With the Process: Engagement ring shopping should be an exciting experience. Make it memorable!

Ultimately, the best engagement ring is one that reflects your relationship, style, and values. The perfect ring isn’t about impressing others. It’s about celebrating your love in a way that feels right for you!

Ready to get started? Book your ring experience here.