This Engagement Ring Rule is No More…
Recent wedding surveys have been great news for anyone anxious about the cost of getting married. Not only are we apparently now opting for colourful stones over diamonds, which are obviously cheaper, brides are also reportedly choosing more affordable wedding dresses instead of expensive designer gowns.
For a long time, the rule was that engagement rings are to cost at least three months salary, but a new report suggests that we’re ignoring it altogether. A new survey by insurer Protect Your Bubble has revealed that couples in the UK are spending 19% less on engagement rings – an average of £1,080 – than they did 5-10 years ago when the standard was £1,333. Moreover, signs appear to suggest that the trend will continue on a downward trajectory.
Out of the 1,235 adults surveyed, 18% more couples admitted spending less than £500 on engagement rings. And to really shatter the rule. 47% purchased engagement rings costing less than three weeks’ salary, with 13% spending less than one week’s wage.
It’s always worthwhile shopping around for rings as the cost doesn’t always equal quality. You can save hundreds, if not thousands, of pounds by shopping online and spending time looking at what is on the market or going to an independent expert who can offer guidance and advice to help you pick the right ring for your budget.
If you’re looking for luxury wedding and engagement rings, we suggest you check out H.Hogarth. Their exceptional range of diamond rings includes carefully selected pieces in various cuts and precious metals in classic and contemporary styles. They also offer Interest-Free Credit on purchases over £500. The Rings they have on their website are just a small selection of what they have in store. So do pop into their shop, and they can show you the many different designs they have available.