How much should an engagement ring cost?

When deciding how much to spend on an engagement ring, consider several factors. The national average cost is around $5,500, but spending varies widely. Nearly half of couples spend between $1,000 to $4,000. Factors influencing cost include personal budget, financial situation, and local currency rates, which can affect prices by country. Remember, there's no strict rule on how much to spend. Focus on what feels right for your financial situation and personal preferences. Additionally, consider the 4 Cs—cut, carat, clarity, and colour—when choosing a ring. These factors will help you find a beautiful and meaningful ring within your budget. Prioritize what’s important to you and your partner, and you’ll find the perfect engagement ring that symbolizes your unique love story.