Engagement Rings

Finding your beloved’s dream ring is supposed to be hard, or you miss out on the most fun parts of the whole thing. Once you are completely sure that you have found what you were looking for, the next step is making sure it suits her in the all the best ways. That part of things is invariably harder, but then as they say, “no pain no gain”. A lot of the time, it helps if you know some of the prevalent statistics about engagement ring styles and gemstones in general. Below are some facts and stats you can benefit from knowing.

Budget

The total average budget for engagement rings in 2018 was about $7,400. 24% of the surveyed 10,000 people said they set high budgets to cover their engagement ring purchase. On the other hand, about 54.8% of people set a medium budget for the engagement ring, while just 21.8% set a low one. The data is by no means conclusive, but it does give a good idea of how important people thought expense was when it came to buying and engagement ring in the first place.

Buyers’ Way of Life

In the survey, couples were also asked to give their own appraisal of their lifestyle. They were asked to label themselves as one of average, upper class, luxury, and modest. Responses showed the highest number of people considered themselves to be living an average lifestyle, while the number of people who thought themselves as upper-class livers was less than half that. It was almost equal to those seeing themselves as living a modest lifestyle. Very few people thought they led a luxury lifestyle. This gives some idea of how buyers see themselves in terms of lifestyle, and how this probably affects their engagement ring purchase.

Engagement Ring Debt

People were also asked about whether they went into debt from buying their ring, and gave answers that netted the following stats. The amount of debt represented here could not be regarded as actual, but again, this gives a fair idea for a new buyer to go by.

• 28% of people had no debt at the end of their purchase
• About 27% of people said they had “very little” debt
• About 35% of the surveyed said their debt was of an “average amount”, and
• 9% of people said they had “a lot of” debt.