How much should I spend on an engagement ring?

If you are thinking about popping the question, congratulations! That’s exciting!

Proposing to your partner is one of the most emotional and memorable moments of your life and choosing an engagement ring is one of the most important choices you will ever make as it will be the symbol of your relationship.

Now there is no right or wrong amount to spend on an engagement ring, it all comes to personal taste and budget.

How much do people usually spend on an engagement ring?

While choosing the perfect engagement ring, there is a certain weight of expectancy that comes with it. The national average spend on engagement rings usually sits between $5,000 and $15,000 according to the industry surveys in Australia.

Now, it is important to remember that everyone is in different financial situation and comparing yourself is not always a good idea.

Humm BNPL is a great way to help you benefit from spreading the cost over time.