The three major considerations should be:
- Your partner’s expectations
- Your Budget or ability to meet those expectations
- Your partners taste in style and jewellery
The goal is to find a balance between the three.
An interesting side consideration is that statistically, those who pay $thousands or even $millions have shorter marriages, so the higher the ring price, the shorter the marriage whereas marriages where under $5000 was spent on the ring, tend to be long lasting.
According to Credit Donkey, there are 10 steps to buying the perfect engagement ring: