How to select an engagement ring budget

Table of contents
  1. Steps
  2. Your partner’s ideal ring
  3. Understand your financial position
  4. What can I expect to buy with my budget?
  5. Conclusion

You love you your partner more than anything in the world. You’re ready to take the next footstep and propose with an engagement ring. But wait… How do you find out your partner’s ideal ring and how much should you spend on this ring?

Well, there’s good news! Trying to figure out your partner’s ideal ring while balancing your financial situation does have to be so hard. With the right information and guidance, you could easily make the perfect choice without mortgaging your house.

I will guide you step by step in this guide. When you’re done you will understand exactly what style of ring your partner expects and how to balance your finances to purchase it.


  1. Your partner’s ideal ring – match your partner’s style with the engagement ring you select
  2. Understand your financial position – analyze your financial situation and explore different solutions if your budget does not meet your partner’s expectations
  3. What can I expect to buy with my budget – ­view a chart to help you gain an idea of what type of engagement ring you can afford on your budget

Your partner’s ideal ring

If you and your partner are choosing  the ring together, you’re in luck as the heavy lifting has been unloaded off of you. However, if you are more of a traditionalist and are selecting the ring solo here are a few tips to pick your partner’s prefect ring:

  • Match their style

To propose with the perfect ring you will need to match your partner’s style with the style of ring you select, this will ensure your partner feels confident and comfortable when wearing the ring.

  • Look for clues

Does your partner wear any jewellery? If you answered yes think about the metal colour of their jewellery, is it white, rose or yellow? Try to pick a metal colour for the engagement ring that matches their jewellery pieces. Study the style of jewellery your partner wears, is it vintage, classical or modern, take inspiration from them and carry it into your search for the perfect engagement ring.

  • Appoint a spy

You can receive great advice and help from a close friend or relative of your partner. Your partner’s friend or relative will have an understanding of your partner from a different view-point, they will be able to ask your partner subtle questions and go shopping together without giving away the big surprise. This valuable information will then be passed on to you to help select your partners perfect engagement ring.

Understand your financial position

How much you choose to spend on an engagement ring will depend on your financial position. It is important that you set a budget that is within the means of your current financial position. Remember if your budget does meet your partner’s ideal ring expectations there are alternative options:

  • Apply for finance
    • Finance will help you to purchase a ring now and make steady repayments later
  • Look for a future upgrade option
  • Adjust your ring specifications
    • Don’t worry if your budget doesn’t meet your partner’s ideal ring specifications, there are small tips and tricks to adjust ring specifications to save money while still making the engagement ring look amazing. Here are some tips:
      • Lower your karat gold, for example, if you are purchasing a ring with 18karat gold try reducing it to 14karat or 9karat, this will ensure the metal has a similar colour to higher karats while maximizing your budget
      • Selecting an eye clean diamond. Pick diamonds ranging from VS2-SI1, these are eye clean, as the inclusions are not visible to the eye and will help maximise your budget
      • See our expert guide for all our tips and tricks


What can I expect to buy with my budget?

How much can your budget get you, what type of ring will you be able to afford that is good value for your money. Below is a helpful table to give you an idea:


You’re ready to start the search for your partner’s perfect engagement ring, make sure your budget is set and your detective glasses are on to spot any small hints to match your partners style with the engagement ring design. Have any questions on your search, comment below and I will answer your questions. 

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