Finding a Formula for Buying Engagement Rings

Are you also having a hard time deciding on how much should be the cost of the engagement ring that you will buy for your girlfriend? Yes, it’s understandable, it may sound cliché, but it’s real – you just want to give nothing but the best you can give.

There is always pressure when planning about buying an engagement ring. Your friends and colleagues are yes to that two-to three-month salary rule. But if it would hurt your wallet and your pockets, then purchasing an engagement ring should have thorough preparation and needs enough time for saving.

There are numerous websites for finding a formula for buying engagement rings. However, a few months or a couple of months of salary to be spent on a ring is not everyone’s capability.

The truth is, buying a ring is a commitment both financially and emotionally, and there are no set rules on how much you are supposed to spend on an engagement ring. There is no standard engagement ring formula based on the salary you can apply to determine how much you should spend. The real formula is still dependent on your financial capability considering your current financial status.

Financing your engagement ring

Some go for an engagement ring credit card. Have you also considered this option? But others prefer spending cash for a ring.

Whatever you choose, either spending cash or just taking a credit card for an engagement ring, it’s a crucial decision that you alone can make. But if you have a hard time deciding by yourself, consider the following suggestions and pieces of advice.

When buying a ring, it is more recommendable to spend cash if you can, rather than putting it on a credit card. Why? Spending the bank’s money via a credit card can be tempting to succumb to price creep and spend more than you would have than spending your own money.

You will also not likely tell your partner when you have her ring from a credit so that you will be hiding your payment from her, that will somehow be a cause of stress for you and might spoil the golden period of the engagement.

The best feeling you can ever have for this purchase will be using the money you have saved for a while. It’s the engagement ring formula

that is more meaningful.

So, is there a need for an engagement ring calculator?

The answer is “No” there’s no magic formula of how much you should spend on your engagement ring, but you can use a calculator for the savings you will need to commit to get that perfect engagement ring for your partner.

The engagement ring formula would be very simple.

All you just need to know is How much is your target ring costs? How many months or weeks do you have to save for that amount?

What you need to do is to divide the total ring cost to the number of months that you can spare for saving for the target ring cost. Be sure to commit not to touch your saving or cut any amount from a certain month to reach the amount and propose to your girlfriend on your target planned date.

Engagement ring value vs. engagement ring price

Ring Price and Ring Value should have clear distinction when it comes to buying an engagement ring. There should be more weight on the ring’s value, rather than its cost.

When it comes to buying a diamond ring, make sure that the money you spend will make a visible difference to the impressiveness of the ring. Although they are a common choice, some might not prefer an engagement ring with a diamond as its center stone.

When selecting a diamond, it’s mostly about finding the compromise between the 5 Cs you are comfortable with. There are 4Cs that men always take note of; they are Cut, Carat, Color, Clarity. While the fifth C is ‘cost.’

As ‘cost’ is usually a constant, you just need to select a ring that would balance the other 4Cs that works for you. If you maximize some of the Cs, though, you will need to minimize the others, which could negatively impact your ring’s overall beauty.