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How Much Should I Spend On An Engagement Ring?

When it comes to purchasing an engagement ring, it is essential to consider various factors, including personal preferences, financial circumstances, and cultural norms. In this article, we will explore the general consensus on how much one should spend on an engagement ring in Australia, the United Kingdom, and the USA.

At Handleys of Sydney, we feel this is entirely up to the individual, the symbolic gesture behind the ring will outweigh any financial value regardless.


In Australia, the tradition of engagement rings has evolved over time. While there is no fixed rule, it is generally recommended to allocate approximately 1-2 months' salary towards an engagement ring. This guideline ensures that the ring is a significant investment without causing undue financial strain.

United Kingdom:

The United Kingdom has its own set of expectations when it comes to engagement ring budgets. Traditionally, it is suggested to spend around 1 month's salary on an engagement ring. However, in recent years, there has been a shift towards a more personalized approach, with couples considering their individual circumstances and preferences when determining the budget.


In the United States, the general consensus on engagement ring budgets varies. The most commonly cited guideline suggests allocating approximately 2-3 months' salary towards an engagement ring. However, it is important to note that this is not a strict rule and can be adjusted based on personal financial situations and priorities.

It is crucial to remember that these guidelines are not set in stone and should be viewed as a starting point. Ultimately, the budget for an engagement ring should be determined by the couple's financial capabilities and their desire to invest in a symbol of their commitment.

At Handleys Of Sydney, we understand the significance of finding the perfect engagement ring within your desired budget. Our wide range of high-quality lab-grown diamonds ensures that you can find a stunning diamond that meets your preferences without compromising on quality. With excellent grades in cut, polish, and symmetry, our diamonds are crafted to perfection, making them an ideal choice for your special occasion.

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We sketch and design many pieces of jewellery every day for our clients across the globe. Simply fill out our form and we can get started. We would have this initial sketch created within 48 hours.

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