How much do you think a guy should spend on an engagement ring? A new study shows they’re spending less on that oh-so-important ring during these tough economic times.
Thanks to Romance Diamond Co. for sharing this study on their blog.
Here’s what the study reveals…
A new study commissioned by the UK-based home insurance firm LV revealed that during these rough economic times, men are spending less on engagement rings than they used to.
Its common knowledge that the “appropriate” price of an engagement ring was the same as three months’ salary. That’s equivalent to about $8,000. But more men just aren’t able (or willing) to fork over that much anymore. Now, they’re spending about $2,000.
Other interesting facts uncovered by the study:
- More than 50 percent of the women surveyed had no idea how much their engagement ring cost, but figured their man spent at least one month’s salary
- 40 percent of men refused to tell how much they spent on their engagement rings
- 3 percent confessed they lied about spending more than they really did.
*Romance gathered this information from Yahoo! Shine; image from The Financial Blogger via cc.
