Today, I learned that there is a rule on how much people should spend on an engagement ring. And it’s not that I looked for this information, you know. I just woke up one day and had only less than nine months left ’til 30, so information like this just naturally comes my way. Obviously, I try to dodge sometimes; but other times, it just hits me in the face. Now that it’s here, I just went with what I had and Googled it anyway…you know, for this article. 🙂
So, what’s the rule? Apparently, people should spend three months’ worth of their salary on an engagement ring. I won’t even expound on this sentence because I already know what you’re thinking–but, why?
According to The Knot, the Three-Month Salary rule originated in the 1930s, during The Great Depression. As the world struggled with the longest and most severe economic downturn, so did the diamond industry. It was then that De Beers, the “leading diamond retailer at the time,” launched a marketing campaign aiming to increase the sales of engagement rings–diamond engagement rings, to be specific.
The online wedding marketplace also noted that diamond rings were not the norm for engagement jewelry at the time. De Beers’ campaign was also responsible for changing this narrative to improve their business profit. They branded diamond engagement rings as a true symbol of love. Thus, buyers should commit their months’ salary’s worth to it.
Needless to say, the campaign worked wonders. Through the years, the number doubled and then tripled. Eventually, this pricing guideline became the standard for how much should an engagement ring be. Heck, the campaign tagline “A Diamond Is Forever” lives on up to this day, thanks to the century-old strong diamond company!
Of course, you can use this engagement ring price rule as a general guideline, but you won’t go to jail either for not following it. You worked hard for your salary, so you should get to decide where to spend it. Besides, an engagement ring is just the tip of a lifelong journey together. 😉
What are your thoughts on this? Tell us in the comments.
Do you want us to feature your business, story, or video? Email me at firstname.lastname@example.org, or send me a direct message at When In Manila Gizelle on Facebook or @gizellecaoile on Instagram. To keep up with the latest news, join our Viber group!