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How Much Are People Spending On Engagement Rings?

Engagement ring trends

Getting married? Thinking of popping the question? Not in either camp but just love weddings? Chances are you’ve used social media to research the wedding of your dreams. 62% of couples spend more time on social media after they get engaged, according to Forbes. And according to Pinterest, 40 million people use the platform as a means of guidance while planning their wedding. But how much do they spend on their engagement rings?

Social media is having more of an influence on weddings than ever before, and nowhere is this influence more apparent than engagement rings. You may have wondered how much other people, influencers and celebrities spend on their rings… So to help, we’ve brought together some insights on how much people typically spend. Moreover, find some of the most recent Insta proposals and how much they set the celebs back.

The average cost of engagement rings

First things first, let’s talk about how much engagement rings typically cost. There’s no final rule about how much a ring to pop the question with should set you back – it’s entirely up to you and what your partner is looking for.

Some opt for the ‘three months of salary’ rule. Statista figures show one month’s salary is, on average £2,230, which equates to £6,690. Of course, this rule was made up by diamond retailer De Beers as part of an advertising campaign…

Are people spending less?

With the cost of living going up, it’s not surprising to see that the number of people willing to spend less on their engagement ring is going up. Indeed, research from Truly found that the amount people spend on their rings has dropped by 19% over the past decade.

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With the cost of weddings spiralling in line with the price of a loaf of bread, it’s no surprise that many couples are deciding to cut back on the cost of a ring that’ll only be worn for 18 months anyway!

How much do celebs spend?

Away from the real world, let’s see how much celebrities are spending on their engagement rings! According to research from engagement rings specialists F Hinds, here’s how much they cost.

J-Lo and Ben Affleck

Perhaps one of the most infamous recouplings of the decade, Bennifers ring set the couple back a diamond-shattering £6,000,000 – however, with her earning £482,073 per Instagram post, it’ll only cost 13 posts for her to earn that back.

Britney Spears and Sam Asghari

Worth £57,500, Britney’s engagement ring is nothing to turn your nose up at, but would be covered for with just 1 of her Instagram posts – 0.63 to be exact.

Alexandria Ocasio-Cortez and Riley Roberts

It’s not just celebrities who are splashing out on their engagement rings. Politician AOC’s ring cost £16,750 – but just like Britney could make that cost back with only 1 post on her grid.

How much do you think is a fine price to pay for an engagement ring? Let us know in the comments below.

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