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Putting a ring on it might be super romantic, but it’s also seriously pricey.The average price tag for an engagement ring is $2,311, according to new data from American Express Spending & Savings Tracker.
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Of course, not everyone drops that amount on the rock. In this survey of over 1,500 adults, 25 percent of people said it was appropriate to spend between $2,000 and $4,999. But 38 percent of people were more conservative, citing $1,000 or less as an acceptable price range. You’ve probably heard that the ring should cost about three-month’s salary, so it makes sense that there would be some wiggle room.
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Obviously, the cost will really come down to your financial situation, which is why we can’t all have Beyoncé’s $5 million rock (sigh).
Do you care about how much your engagement ring costs? Let us know in the comments below!