How Much Should You Spend on an Engagement Ring?
Melissa BanShare
When planning to pop the question, one of the biggest questions is: “How much should I spend on an engagement ring?” It’s a decision that blends love, lifestyle, and budget — and let’s face it, you want the ring to impress without causing financial stress. Whether you're shopping for a sparkling solitaire or exploring our exclusive illusion-set engagement rings, this guide will walk you through everything you need to know about budgeting for the perfect proposal.
How Much Should You Spend on an Engagement Ring?
The old-fashioned “one-month salary rule” has long been considered the norm, but today’s couples are rewriting the rules — and rightly so. Whether you're planning a surprise proposal, choosing the ring together, or you're the one being proposed to, the real question is: how much should you spend on an engagement ring?
Forget rigid formulas and focus on what works for you. At Vivaro London, we’ve helped countless couples — from all backgrounds — find the perfect balance of budget, style, and sentiment. Your engagement ring should be a reflection of your love, not a measure of your income.
Average Engagement Ring Spend in the UK and London (2025)
UK Average
In the UK, the average cost of an engagement ring in 2025 ranges between £1,800 and £2,500. This figure has remained relatively stable over the last few years, reflecting a mix of traditional spending habits and growing interest in value-driven purchases.
London Average
For those in London, the numbers rise slightly. The average spend on an engagement ring in London is around £3,000–£4,000, largely due to higher incomes and a stronger affinity for luxury goods in the capital. Londoners are also more likely to seek unique, design-led pieces — including bespoke engagement rings and innovative settings like our illusion-set styles.
What Is a Decent Budget for an Engagement Ring?
A "decent" engagement ring budget is whatever aligns with your financial circumstances and values. Here’s a helpful way to think about it:
- Under £1,000 – Great for daintier styles, lab-grown diamonds, or minimalist designs. Consider a classic solitaire or small cluster.
- £1,000–£2,500 – Allows you to explore natural diamonds, unique shapes, and even halo or illusion-set rings that appear larger than they are.
- £2,500–£5,000 – Offers more freedom in carat size, colour, and clarity. A strong sweet spot for quality natural diamonds with sophisticated settings.
- £5,000+ – For premium designs, larger centre stones, and custom creations with exceptional craftsmanship.
💡 Vivaro London’s signature illusion-set engagement rings are perfect for maximising perceived size without inflating your budget. This setting gives the appearance of a larger diamond — often 30–50% bigger — while allowing you to stay within a lower budget bracket.
Why the Illusion-Set Engagement Ring Is the Smartest Choice
Our illusion-set engagement ring is one of the most practical and beautiful options for modern couples. By surrounding a centre diamond with precisely cut smaller stones in a specially designed mount, the result is a dazzling display that mimics the size and sparkle of a much larger (and more expensive) diamond.
Benefits of Illusion-Set Engagement Rings:
- Bigger Look, Lower Price – You get more visible sparkle without paying for a higher carat weight.
- Natural Diamond Appeal – All our illusion-set rings feature natural diamonds, chosen for brilliance and clarity.
- Craftsmanship & Style – Our expert artisans in Hatton Garden handcraft each ring, ensuring elegance, precision, and timeless appeal.
- Budget-Friendly Luxury – Perfect for customers with a budget between £1,000–£2,000, especially popular with London-based professionals.
If you're looking for the best value engagement ring in London, our illusion-set collection is a must-see.
Engagement Ring Budget FAQs: Expert Answers
Q: How much should I spend on an engagement ring if I earn £30,000 a year?
There’s no fixed rule, but a reasonable engagement ring budget would be between £1,000 and £2,000. This allows for flexibility without compromising your financial security. Our 18ct gold illusion-set rings offer excellent value at this price point.
Q: Is £1,500 enough for a beautiful diamond engagement ring?
Absolutely. In fact, £1,500 is a great budget for a ring with excellent design and sparkle — especially when you choose a setting that enhances size and brilliance. Illusion-set rings are ideal here.
Q: Should I go into debt for an engagement ring?
Short answer: No. While it's tempting to splurge, especially in a city like London, your engagement should be the start of a happy life — not a financial burden. Smart spending means you can still have a ring that stuns, without regret.
Q: Are lab-grown diamonds a good alternative?
Lab-grown diamonds are rising in popularity, offering larger stones for lower prices. However, Vivaro London only uses natural diamonds, prized for their rarity and inherent value. With the illusion setting, you can achieve a similar price-to-size benefit while retaining the prestige of a natural diamond.
Q: What is the most popular engagement ring style in the UK?
Classic styles remain timeless — think solitaire, halo, and increasingly, illusion-set rings. Customers are drawn to sparkle and uniqueness, which makes our illusion collection a favourite for savvy buyers who want luxury without the premium price tag.
Tips for Setting a Smart Engagement Ring Budget
- Decide on a Comfortable Budget First Before you even start browsing, know how much you’re willing to spend. This avoids emotional overspending and ensures a smoother experience.
- Consider the Full Picture Remember to budget for resizing, insurance, and possibly the wedding bands. These extras can add £100–£500 to your total.
- Think Long-Term Don’t forget you have a wedding, honeymoon, and life together ahead. The ring is important — but your financial wellbeing is too.
- Shop from Trusted Jewellers Choose brands known for quality, ethics, and service — like Vivaro London, based in the heart of Holborn with decades of craftsmanship heritage.
- Look for Design Tricks That Add Value Settings like our illusion set are brilliant at giving you that “wow” factor without needing a high carat stone.
Why Vivaro London?
At Vivaro London, we specialise in fine engagement rings that blend luxury, affordability, and unique design. Whether you're shopping in-store or online, our expert team is here to guide you — no pressure, just honest advice.
Here’s what makes us different:
- Natural Diamonds Only – Sustainably sourced and expertly set.
- Made in London – Crafted in our Holborn workshop.
- Illusion-Set Specialists – Our signature style maximises sparkle for less.
- 9ct Gold Options – Including white, yellow, and rose gold.
- Bespoke Services – Create a ring as unique as your love story.
Real Engagement Ring Customers: What They Spent
We asked some of our recent customers to share what they spent and why:
Conner, 29, Finance Analyst (London)
“I had a £2,000 budget and wanted something that looked like £4,000. Vivaro’s illusion-set diamond ring was perfect — my girlfriend had no idea I didn’t go over budget.”
Alex, 35, Graphic Designer (Brighton)
“I chose a bespoke 9ct gold engagement ring with a cluster setting. It cost £1,400 and looks amazing. So glad I didn’t overspend.”
James, 32, Lawyer (London)
“I spent £3,500, but mainly because I wanted a larger centre diamond. I did consider an illusion setting — should’ve gone for it in hindsight!”
Final Word: Spend What Feels Right
Forget the outdated rules. The best engagement ring is one that reflects your partner’s style, your love story, and your budget. With the right guidance, you can get a stunning, natural diamond ring in London that’s meaningful and memorable — without breaking the bank.
Explore our collection of illusion-set engagement rings, or book a visit to our Holborn showroom. Let’s find the ring that says “forever” in the most brilliant way.
