So you’re thinking about taking the plunge and popping the question, but you’re not sure if you can afford it. Before you propose, you should break down the costs of a typical engagement and see if you can make it work for your budget. Here’s what you should consider:
The Ring
Of course, the most important part of any engagement is the ring. The cost of a ring can vary widely, depending on the quality of the diamonds or other precious stones, the type of metal used, and the overall design. According to The Knot’s 2019 Real Weddings Study, the national average cost of an engagement ring is $5,900. However, if you’re looking for something truly special, you could be looking at a much higher price tag.
When you walk into a jewelry shop, the first thing you’ll be asked is your budget. If you have a budget, you can start looking at different ring styles and narrowing down your options. The smart move is to choose engagement rings online before visiting any brick-and-mortar stores. This will give you a better idea of what’s available in your price range and help you narrow down your choices. You will also be able to compare your options more easily and get a sense of what different engagement ring styles cost.
When shopping for diamond rings, it’s important to remember the “4 Cs”: Carat, Clarity, Cut, and Color. Here’s what they mean:
- The weight of a diamond, in terms of carat.
- The cut is how well the diamond has been cut and includes the height, depth, and other factors. It has an impact on symmetry, fire, brightness, the sparkly nature of the diamond.
- Clarity measures the number of blemishes are present on the diamond.
- Finally, color is judged on a scale from D (no hue) to Z (yellow hue).
People prefer different combinations of these Four Cs, so it’s crucial to figure out what combination is right for you before making a purchase.
The Proposal
Once you’ve found the perfect ring, it’s time to start planning the proposal. Suppose you’re going for a traditional engagement. In that case, you’ll need to factor in the cost of a nice dinner, flowers, and perhaps even a hotel room if you’re planning to propose during a romantic getaway, such as a faraway location with a beach. A destination proposal will obviously cost more, but it can be a very memorable experience for you and your partner.
Moreover, suppose you’re planning on hiring a professional photographer to capture the moment. In that case, that will add another cost to the equation. Professional engagement photos can range from $200 to $1,000 or more, depending on the quality of the photographer and the number of photos you want.
If you want to go all out, there are a number of creative (and often pricey) ways to propose. You could take your partner on a hot air balloon ride and pop the question at sunset, hire a skywriter to write “Marry Me?” in the clouds, or rent out a Ferris wheel and propose while you’re at the top.
Engagement parties are another common tradition, but they’re not required. If you do decide to have an engagement party, you’ll need to factor in the cost of food, drinks, and decorations. You may also need to rent a venue if you don’t have enough space at your house. All of these costs can add up, but engagement parties are not required, and you can certainly save some money by skipping this tradition.
Of course, the most vital part of any proposal is that it comes from the heart. Whether you spend a lot of money or just a little, what matters most is that your partner knows how much you love and care for them.
The Wedding itself
Of course, no engagement would be complete without a beautiful wedding to go along with it. The cost of a wedding depends on various factors, including location, the number of guests, food and drink choices, and more. According to The Knot’s 2019 Real Weddings Study, the median cost of a wedding in the United States is $33,900. However, that number could easily skyrocket if you’re planning a destination wedding or particularly lavish affair.
As you can see, a lot goes into planning a proposal and wedding — and it’s not cheap! If you’re thinking about popping the question, make sure you’ve tried to sit down with your partner and figure out what kind of wedding you both want and how much you’re willing to spend. When you finally have a budget in mind, you can start shopping for rings and making all your other arrangements accordingly. With careful planning (and maybe a little help from mom and dad), you can make your dream engagement come true without breaking the bank!
