Cost of Engagement Ring

The Cost of Engagement Ring equation calculates how much should be spent on an engagement ring based on annual income.

INSTRUCTIONS: Choose units and enter the following:

• (AI) Annual Income

Cost of Engagement Ring (L , M,  H): Calculator returns the low, mid and high cost estimate in US dollars.  However, this can be automatically converted to compatible units via the pull-down menu.

The Math / Science

The custom that a man should spend a significant fraction of his annual income for an engagement ring originated from De Beers marketing materials in the mid-20th century in an effort to increase the sale of diamonds. In the 1930s, they suggested that a man should spend the equivalent of one month's income on the engagement ring; later they suggested that he should spend two months' income on it. In 2012, the average cost of an engagement ring in USA as reported by the industry was US$4,000.

About Engagement Rings

An engagement ring is a ring indicating that the person wearing it is engaged to be married, especially in Western cultures. In Western countries, engagement rings are worn mostly by women, and rings can feature diamonds or other gemstones. In some other cultures men and women wear matching rings. In some cultures, engagement rings are also used as wedding rings.

The woman's ring is presented as an engagement gift by a man to his prospective spouse while he proposes marriage or directly after she accepts his marriage proposal. It represents a formal agreement to future marriage.

References

Wikipedia (https://en.wikipedia.org/wiki/Engagement_ring)