How Much You Should Spend On a Toronto Engagement Ring?

You have just proposed to your loved one and he/she is ready to be your life long partner. You must be now contemplating on buying an engagement ring to grace the occasion. However, even if you plan to arrange the occasion of engagement in a special way, you must be wondering on the cost of it. Is it worthy to spend millions of dollars on Toronto engagement ring? Or, there is no need to buy an expensive engagement ring if you have the option to get an engagement ring at a lower rate.

 

engagement ring

Engagement Rings Can Be Expensive 

It is a true fact that engagement rings can be tad expensive. If you want to invest in a 24 carat ring just like Paris Hilton wears, you must get ready to shell out a whopping $4.7 million. If you don’t want to place your house on mortgage, it would be better to invest in a ring that would cost 5 % of the salary or two months’ salary. For example, if one is earning around $35,000 they can easily spend around $ 2,500 to $ 8,500 on a ring.

However, earning this huge amount of money is not possible for everyone. An average person’s salary may range from $5000 to $ 8000. In those cases they can easily invest in a single solitaire diamond engagement ring. According to leading Toronto engagement ring shops, engagement rings that come studded with single diamonds are less cheap.

 

Factors to Consider

If you are wondering the amount of money that you can spend for buying an engagement ring, you need to keep in mind certain points. Take a look into it.

  • Finance

    Toronto engagement ring

You need to check out the amount of money you have saved for buying an engagement ring. Here, you need to keep in mind the amount of money that you are comfortable to shell out. For this, it is crucial to consider the income and other monthly bills that you need to pay.

  • Partner’s Expectations

You should have an idea on the expectation of your partner from Toronto engagement ring. You can directly ask your partner or judging by their taste choosing the ring becomes easy. If your partner loves modern design, you can settle for halo setting engagement ring. They are affordable. Similarly, vintage design rings can come with a high price tag.

  • Diamond Rounding

If you are wondering the amount of money that you need to spend on an engagement ring, you need to know that the cost of it would vary depending on the carat of diamonds.  If the diamond installed on the ring is of 1 karat it would cost you differently from the one that is of 0.9 karat.

 

Different Stones

If the Toronto engagement ring comes embedded with various kinds of gemstones, you will need to shell huge amount of money. So you need to make sure if you want to settle for a single stone ring or various gemstones.

Hearing this you don’t need to freak out. When you visit a jewelry store for buying Toronto engagement ring, you will have plenty of options for rings that would fall within your price bracket.

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