Jewelry shopping can be intimidating. That’s why we started Ask Holden, our blog where we answer your FAQs, break down scary industry lingo, and guide you in finding the perfect piece of jewelry.
If you're looking for a benchmark, research from The Knot, reports that Americans on average spend ~$6,000 on engagement rings, ~$550 on men’s wedding bands, and ~$1,400 on women’s wedding bands. While you may have heard from your Uncle Bob* that you’re supposed to spend 3 months' salary on the engagement ring, there's fortunately no hard rule or expectation for how much you should spend on a wedding ring.
The short answer is: the decision is completely up to you and your partner! Your financial situation is fully your own, so the average wedding ring cost shouldn't influence your decision-making process. One of our core philosophies at Holden is that your wedding ring should be 100% personal. Wondering how much does a wedding ring cost? Honestly, there’s no one-size-fits-all answer—and that’s the point. Don’t worry about any sort of calculated averages, antiquated notions of how much you should spend, or engagement ring and wedding band rules. We believe you and your partner should get the wedding rings you’ll be excited to put on each morning, not the one you think will live up to anyone else’s expectations.
How to Save Money on Wedding and Engagement Rings
Wedding and engagement rings don’t have to break the bank. If you’re shopping smart, you can find meaningful, high-quality pieces without overspending. Here are a few practical (and stress-free) ways to keep your ring costs manageable—without compromising on what matters most.
1. Start With a Realistic Budget
The best way to begin? Decide how much you can comfortably spend. Think about any savings you already have and how much you can set aside over time. This will give you a clear idea of your engagement ring budget and timeline.
There’s no rule that says you need to follow the “three-month salary” tradition. What matters most is choosing a ring you and your partner love—without going into debt to get it.
2. Explore Alternative Stones and Metals
Diamonds and platinum are beautiful, but they’re not your only options. Consider lab-grown diamonds, which offer the same sparkle at a fraction of the price. Not into diamonds? Alternative gemstones like sapphires, emeralds, and rubies can be more affordable—and more personal.
For the band, metals like recycled gold and white gold often cost less than platinum while still offering long-lasting durability and beauty. At Holden, we use sustainable, recycled precious metals in all of our rings—so you never have to compromise on values or aesthetics.
3. Shop at the Right Time (and Place)
Comparing prices across retailers can make a big difference. Keep an eye out for seasonal promotions—Black Friday, Valentine’s Day, and even end-of-year sales can offer great deals.
Don’t forget that custom rings (like ours) may take time to produce and size, so plan ahead. Whether you're buying a wedding ring or an engagement ring, giving yourself extra time can help you save money and avoid rush fees.
4. Bundle Your Engagement and Wedding Rings
If you’re buying both rings from the same place, ask about a bundle discount. At many jewelers, buying an engagement ring and both wedding bands together can unlock savings—and save you time and stress.
At Holden, all of our rings are sold directly to you without the designer markup, and we offer free resizing, free shipping, and transparent pricing across the board.
Is it possible to find a sustainable, affordable wedding ring?
Not to, you know, put a shameless self-plug in here or anything, but we *will* say that our rings are fully customizable, sustainably made with recycled precious metals, and direct to you (so no designer markup). A less expensive ring that’s just as high quality is, in our minds, a great value and wise choice. Save some money on your ring and save up for your honeymoon (if you choose to take one)!
In summary
Anyway, all Holden plugging aside, the decision about how much money to spend on a ring is ultimately a personal one. While knowing the average wedding ring cost can be helpful as a benchmark, what’s most important is choosing a ring you’re excited to wear every day - nobody ever has to know the price tag but you.
*I know at least eight people with uncles named Bob. I need to know more about this phenomenon! If you have information on possible Uncle Bob conspiracy theories, DM me ASAP.
Questions? Give us a shout at help@hiholden.com or a ring (pun intended) at 646.722.6817.
FAQs
1. How much should I spend on a wedding ring?
There’s no fixed rule. Spend what feels right for your budget and relationship. Some people spend a few hundred dollars, others a few thousand—the most important thing is that you love the ring, not the price tag.
2. How much does a wedding ring cost?
The cost of a wedding ring can vary widely depending on the metal, design, and whether it includes diamonds or other gemstones. On average, wedding rings range from $500 to $2,500. The average cost of a wedding ring in the U.S. tends to fall around $1,000–$1,500, but custom and designer rings may cost more. At Holden, we offer solid gold and platinum wedding rings starting at $249, so you can find something beautiful at any budget.
3. How to save money on an engagement ring?
To save money, consider a lab-grown diamond, a smaller carat size, or a unique shape. Shopping made-to-order rings from brands with transparent pricing—like Holden—can also help. Knowing how to save money on an engagement ring is all about smart choices that reflect your style and values.
4. What is the average wedding ring cost?
According to research from The Knot, the average cost of a men’s wedding ring is around $550, while women’s wedding bands average about $1,400. However, these are just benchmarks—not expectations.
5. Is the three-month salary rule still relevant?
Not really. The “three-month salary” rule is outdated and marketing-driven. You don’t need to spend a specific percentage of your income—your ring should reflect your values, not someone else’s standard.
6. Can I get a high-quality wedding ring on a budget?
Yes! Choosing options like lab-grown diamonds or recycled metals, and shopping from direct-to-consumer jewelers like Holden, can help you get a premium ring without the premium markup.
7. Should I and my partner set a ring budget together?
Definitely. Discussing your wedding ring budget as a couple ensures you’re on the same page financially and emotionally. The right ring is one that fits both your style and your shared goals.
About Holden
At Holden, we make engagement rings and wedding rings that reflect who you are. Whether you’re drawn to the bold shape of a Signet Ring, the clean elegance of a Center Stone Solitaire, or the soft contour of a Curved Band, our designs are rooted in authenticity, inclusion, and exceptional craftsmanship.