According to the Wall Street Journal, engagement rings are taking a hit in these tough economic times. It’s looking like the new rule of thumb is no longer two months of the purchaser’s pay, and more like one. Below you can see the FiLife poll (part of Dow Jones) that suggests this.
While yes, times are tough, remember that when it comes to buying an engagement ring, if that’s something the two of you have chosen to do (not everyone does), the only “right price” is one that the two of you set. There is no hard and fast rule that says you must spend a certain percentage of income on a single piece of jewelry. Do whatever works for you.
What are your thoughts on diamonds and today’s less-than-stellar economy? What are some other creative things couples are doing instead of shelling out a large chunk of change to buy a rock (Turning to other gems? Skipping engagement rings all together and just sporting bands?)? Do tell!
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