Saturday, February 22, 2014

SG Wedding Guru: How much should a groom spend on a wedding engagement ring

The often hear the perennial question of how much should a bridegroom spend on the wedding engagement ring. According to DeBeer's advertising campaign in the 40s, the magic figure is 3 months salary.
When asked how they derived this magical figure, those who were privy to the discussions will tell you that there is no science to it. DeBeer's at that point in the 40s was struggling to increase the value of diamond sales. A bright young advertising executive then came up with the idea for jewelers to put up signs in their showcases saying that the "correct" price of a diamond wedding engagement ring was 3 times the groom's monthly salary. The sign worked wonders as it established a  benchmark, and any groom who paid less was seen as being "less" in love. Needless to say, diamond sales soared and the rest is history.
Once again, the team at SG Wedding Guru believes that grooms can, and should, deviate from this figure. It is after all a guide and we believe that the cost of the wedding itself is enough to put most couples in debt. Going overboard on an engagement ring will certainly not help matters, and studies have shown that couples stand a better chance at remaining married without money pressures.
So in our opinion, the price of a wedding engagement ring should be anything that is comfortable to the groom. In fact, we know for a fact that brides-to-be treasure the effort the groom takes in making the proposal more than the price of the wedding engagement ring. So think special memories and not price when deciding on how and when to propose.

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