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Need advice on an engagement ring!


CanuckMedic
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Hey Everyone,

 

I've been on the site now basically 24 hours a day for the last week or so. lol I know, I need to find better things to do with my time.

 

My girlfriend and I have made the decision that we want to be married, I haven't proposed yet but that will come once I find a ring and once I feel it's the best time to propose.

 

Anyway, what I wanted to ask was, what is a reasonable amount of money to spend on an engagement ring since I am still very young at only 21?

 

I have talked to her about this and she said that she really doesn't want an expensive ring, she says she doesn't see the need for it. I on the other hand feel that the ring is very important and I would not be happy buying her just any "cheap" ring. She says she doesn't mind a smaller diamond but I prefer to give her a larger diamond.

 

I make $7000/month as a medic, do I apply the two month salary "marketing gimic" that the diamond industry has set forth? Should I be spending less? More?

 

As of right now in my research, most of the diamonds alne that I have been looking at have been in the $3800-$5000 range(that's only in the 0.64-0.75 carat range) with the setting in the $1000-1600 range but I would prefer a larger diamond!

 

I was in Vegas a couple months ago and took a peek at the Tiffany engagement rings and fell in love with them. Back then I didn't know anything about diamonds but I knew that I had never seen rings catch an eye like those ones did and now learning that it's more in the diamond itself rather than just the fact that its a tiffany ring, I am set to get a diamond that looks stunning.

 

I would prefer to get as close to 1 carat as possible but with wanting a perfect diamond, that may not be possible.

 

Give me your feedback, I'm sorry for the lengthy post but it's hard to get explain my situation without giving all the details. In the end it is MY decision how much I spend but I also don't want to go stupid overboard, as would be the case if I bought exactly what I wanted right now.

 

Thanks in advance!

 

Jason

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I am very lucky in the fact that I am only 21 and am already in my career of choice. Right now I am working as a medic on various oil rigs throughout Alberta, I am stuck on these rigs for 4-5 weeks at a time, I wouldn't say my job is overly hard but I earn every penny I make. It is this very reason that I want to put something beautiful on my loves finger. She deserves it by having to put up with me being away for soo long at a time.

 

Jason

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Hi CanuckMedic,

 

Your profession sounds rather interesting.

 

In regards to your diamond, you should spend what you can afford. Some vendors offer upgrade policies on some of their diamonds (usually their best cut quality stones), which may be something to consider if you ultimately want a larger diamond in the future.

 

You can sacrifice a little in color or clarity with little to no visual difference to maximize size and/or save some money. For instance, there is no visual difference to the naked eye between an IF diamond and a VS1 as both would be eye-clean. This is of course ultimately up to what specifications you want or are willing to compromise in your stone.

 

I wish you all the best.

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I would not presume to answer the question of how much of your money you should spend on diamonds vs. other things in your life and have always disliked those ‘guidelines’ for that reason. As I’m sure you know, it’s unusual for a young person to be so well paid and if you don’t anticipate having that increase indefinitely, it may be a good plan sock away a significant amount of it into a savings plan. Banking serious money is a LOT easier to do when you’re 21 and single than when you’re 40 with kids.

 

$3800 Canadian is a pretty tight budget if size is your primary attribute but it is possible. You can use the ‘find online jeweler’ database at the top of the page to get a feel for what some US offers might be. In comparing, don’t forget the VAT.

 

Good Luck. Keep us posted.

 

Neil

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Hi CanuckMedic,

 

Your profession sounds rather interesting.

 

In regards to your diamond, you should spend what you can afford. Some vendors offer upgrade policies on some of their diamonds (usually their best cut quality stones), which may be something to consider if you ultimately want a larger diamond in the future.

 

You can sacrifice a little in color or clarity with little to no visual difference to maximize size and/or save some money. For instance, there is no visual difference to the naked eye between an IF diamond and a VS1 as both would be eye-clean. This is of course ultimately up to what specifications you want or are willing to compromise in your stone.

 

I wish you all the best.

I have read a little bit about the upgrading possiblities down the road and I may consider that when it comes down to the final purchase.

 

And yes I have seen that I can cut in some areas of the diamond as the human eye cannot tell the difference between certain levels of each characteristic and have been basing my search on those facts, hopefuly I can find something that strikes my eye along the way but soo far everything seems either too small or too big lol well nothings too big but then money becomes an issue ;-)

 

Thanks for your input!

 

Jason

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I would not presume to answer the question of how much of your money you should spend on diamonds vs. other things in your life and have always disliked those ‘guidelines’ for that reason. As I’m sure you know, it’s unusual for a young person to be so well paid and if you don’t anticipate having that increase indefinitely, it may be a good plan sock away a significant amount of it into a savings plan. Banking serious money is a LOT easier to do when you’re 21 and single than when you’re 40 with kids.

 

$3800 Canadian is a pretty tight budget if size is your primary attribute but it is possible. You can use the ‘find online jeweler’ database at the top of the page to get a feel for what some US offers might be. In comparing, don’t forget the VAT.

 

Good Luck. Keep us posted.

 

Neil

I hope I didnt give the wrong impression by my first post. I am not giving up anything to buy this ring.

 

Money for our house(which is being bought in summer/fall of next year), RRSP's, Travelling next spring and for a new car are all taken care of thanks to my planning over the last year.

 

Now my main focus is an engagement ring, what I meant by my post is, is it normal for someone of my age to have such high standards for this ring? I have a couple friends that got engaged and they didn't seem to know a thing about the ring(they bought it from a local jeweler) and don't care becuase they think it's beautiful and that's all that matters. I have nothing against that approach but I don't think I can do that with this and I just don't know if I'm being unreasonable wanting more?

 

It's really hard for me to explain.

 

Anyway, what I was trying to figure out is what I should set my budget at, that's why I included my monthly earnings. That's where I am having the issues deciding and was wondering what other used as their template, I know everyone is different but any imput would be appreciated.

 

Oh and for the diamond and ring pricing that I gave earlier, that was U.S. funds.

 

Thanks guys for your input thus far!

 

Jason

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