How much of my salary should I spend on an engagement ring?

For guys out there that make a consistent annual salary and want a quick reference guide for how much to spend on an engagement ring, here is a handy look up table. 

On the far left you have annual salary, before taxes and other deductions. This table makes it super easy to answer: How much of my salary should I spend on an engagement ring?

I have calculated your monthly gross pay (wages before taxes and savings) and your monthly net pay. If you want to spend between 2 and 3 months worth of your net, take-home pay, on an engagement ring these are the prices you should expect to fork out.

The average guy spends around $5,500 per ring. If you are earning $55,000 annually and want to spend 2 months of your salary on a ring, that will get to an average amount.

The exception to this is if you are a high earner, and making well into the six figures, your budget for a ring might be quite a bit higher. If you are a lucky guy making $200,000 it’s not unreasonable to think you might drop $20,000 to $30,000 on a ring.

If you are a total baller and making a million dollars a year (whats up Hollywood agents, actors, athletes, bankers, and tech founders), you can spend upwards of $150,000 for the engagement ring of your future wife’s dreams.

While I know the average guy is not making a million dollars a year yet – today – we can all hope to make this much in the future so I included it for general inspiration.

While buying a $100,000 ring may strike you as insane, pretty much every company makes rings of this monetary value.

Ring prices are driven by the 4cs which I’m sure you have heart about: cut, color, clarity, and carat weight.

You don’t need to spend a fortune to make your girlfriend happy. Using this table is a good start to approximating where expectations might be. Personally, it was hard to part with so much money for an item so small. But it’s part of the game so I played it.

Annual SalaryMonthly Gross PayMonthly Net Pay2 Months of Net Pay3 Months of Net Pay
$40,000$3,333$2,000$4,000$6,000
$45,000$3,750$2,250$4,500$6,750
$50,000$4,167$2,500$5,000$7,500
$55,000$4,583$2,750$5,500$8,250
$60,000$5,000$3,000$6,000$9,000
$65,000$5,417$3,250$6,500$9,750
$70,000$5,833$3,500$7,000$10,500
$75,000$6,250$3,750$7,500$11,250
$80,000$6,667$4,000$8,000$12,000
$85,000$7,083$4,250$8,500$12,750
$90,000$7,500$4,500$9,000$13,500
$95,000$7,917$4,750$9,500$14,250
$100,000$8,333$5,000$10,000$15,000
$105,000$8,750$5,250$10,500$15,750
$110,000$9,167$5,500$11,000$16,500
$115,000$9,583$5,750$11,500$17,250
$120,000$10,000$6,000$12,000$18,000
$125,000$10,417$6,250$12,500$18,750
$130,000$10,833$6,500$13,000$19,500
$135,000$11,250$6,750$13,500$20,250
$140,000$11,667$7,000$14,000$21,000
$145,000$12,083$7,250$14,500$21,750
$150,000$12,500$7,500$15,000$22,500
$155,000$12,917$7,750$15,500$23,250
$160,000$13,333$8,000$16,000$24,000
$165,000$13,750$8,250$16,500$24,750
$170,000$14,167$8,500$17,000$25,500
$175,000$14,583$8,750$17,500$26,250
$180,000$15,000$9,000$18,000$27,000
$185,000$15,417$9,250$18,500$27,750
$190,000$15,833$9,500$19,000$28,500
$195,000$16,250$9,750$19,500$29,250
$200,000$16,667$10,000$20,000$30,000
$205,000$17,083$10,250$20,500$30,750
$210,000$17,500$10,500$21,000$31,500
$215,000$17,917$10,750$21,500$32,250
$220,000$18,333$11,000$22,000$33,000
$225,000$18,750$11,250$22,500$33,750
$230,000$19,167$11,500$23,000$34,500
$235,000$19,583$11,750$23,500$35,250
$240,000$20,000$12,000$24,000$36,000
$245,000$20,417$12,250$24,500$36,750
$250,000$20,833$12,500$25,000$37,500
$500,000$41,667$25,000$50,000$75,000
$750,000$62,500$37,500$75,000$112,500
$1,000,000$83,333$50,000$100,000$150,000

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