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The Average Engagement Ring is Almost $6,000 – But Spending Less is Good for Your Marriage

With “proposal season” in full swing – 38% of couples get engaged from November through January – there are a lot of couples with rings on the brain. A recent study shows that spending on engagement rings and wedding bands is rising; yet another study shows that this trend might not be a good thing for your budget or the longevity of your marriage.

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According to The Knot 2015 Jewelry & Engagement Study, the cost of an engagement ring is at an all-time high: with men spending an average of $5,978, up from $5,403 in 2013 and $5,095 in 2011. For wedding bands, couples spend an average of $1,417 on her wedding band (up from $1,126 in 2011) and $558 on his band (up from $491 in 2011). If those numbers are making you feel a little lightheaded, take comfort in this: opting for affordable engagement rings and matching wedding bands might actually help your chances of making it to your golden anniversary.

A 2014 study from two economists (‘A Diamond is Forever’ and Other Fairy Tales: The Relationship between Wedding Expenses and Marriage Duration) recently made it back on the list of the top five most-requested studies in academia. Its findings show that less is more when it comes to spending:

  • Investing between $2,000 and $4,000 on an engagement ring was associated with an 1.3-times increase in the chances that a man got divorced, in comparison to spending between $500 and $2,000.
  • Spending less than $500, however, was associated with a boost in the odds of divorce among women.

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While it might be tempting to get caught up in the “spendier is better” whirlwind, affordable engagement rings and wedding bands could set you on track for a long and happy marriage. That’s a pretty solid reason for keeping your wedding jewelry budget on the modest side.

And when you start browsing engagement rings and matching wedding bands at My Trio Rings, you realize quickly that you don’t have to sacrifice quality or beauty for savings. We offer a selection of exceptional diamond rings for up to 65% off retail prices.

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