It’s a question that can baffle lads (or ladies) who want to pop the question – how much to spend on an engagement ring?
Well, it depends who you ask.
Traditionally, it’s been said that someone planning to propose should spend two months’ salary on a ring.
That old chestnut has, of course, turned out to be more of a fabrication than a tradition – diamond company De Beers came up with the ‘rule’ during an ad campaign in the 1930s.
Setting a budget and for a ring is hugely personal for each couple, but a new survey by Weddings Online has found that the average spend on an engagement ring in Ireland is €1,849.
Looking at Irish wages, it appears many Irish couples are eschewing the ‘two months’ rule nowadays.
The latest CSO figures available (which come from 2016) put the average annual earnings in Ireland at €36,919, or €6,153 for two months’ earnings.
This gap suggests that we’re saving our money for something else, like maybe the cost of a wedding.
The most sensible approach for getting a ring is surely just to buy what you can afford, which seems to be a popular option for many.
Research by The Vow last year showed that 41 per cent of Irish people think that you should only spend what you have on an engagement ring.
This year’s Weddings Online also survey showed that 24 per cent of those surveyed got engaged in December, making it the most popular month.
It also found that couples are enjoying longer engagements, as over 27 per cent of engaged couples wait over 2 years to get married compared to over 25 per cent last year.