When you’ve found the person you want to spend the rest of your life with, you naturally don’t
want to put a price limit on the perfect ring for her. But your bank account might disagree. Engagement rings can be upwards of $10,000 or as affordable as $50, although $50 will buy you a cheap ring that certainly won’t last.
The average engagement ring costs about $6,351, according to research from The Knot. You could buy a decent used car or make a down payment on a home for that price. You want a ring that will let the world know she’s yours forever, but do you really need to spend that much money when you’re just starting out as a married couple?