If you're planning to propose, you've probably heard the rule: an engagement ring should cost three months' salary.

It sounds established. It isn't.

The idea of linking the price of an engagement ring to salary came from diamond advertising rather than an old engagement tradition. Early De Beers advertising promoted spending around one month's salary, with the suggested amount increasing in later campaigns.

So how much should you actually spend on an engagement ring?

Enough to find the right ring without spending more simply because somebody told you that you should.

How much people actually spend on an engagement ring in the UK

Bridebook's 2026 research puts the average UK engagement ring spend at approximately £2,247.

That's useful as a reference point, but it shouldn't determine your budget.

A £2,000 ring and a £10,000 ring can both be excellent purchases. What matters is what you're paying for — and which elements of the ring matter most to you and your partner.

With a bespoke diamond engagement ring, your budget can be distributed differently depending on whether you prioritise the centre stone, diamond quality, carat weight, precious metal or complexity of the design.

At Moyiola Abeo, we prefer to begin with the person and the budget rather than an arbitrary spending rule.

What determines the price of an engagement ring?

There are four things that tend to make the biggest difference.

The centre stone

For diamonds, the combination of cut, carat, colour and clarity influences price. Choosing between natural and lab-grown diamonds can also create very different possibilities within the same budget.

Carat weight

Larger diamonds generally command higher prices, but bigger isn't automatically better. Cut, proportions and the way a stone is set can dramatically affect how a diamond looks on the hand.

The metal

Platinum and different purities of gold have different material costs. The amount of precious metal required by the design also affects the finished price.

The setting

A classic solitaire and a completely bespoke engagement ring featuring pavé diamonds, a hidden halo or intricate stone setting require very different levels of craftsmanship.

This is where working directly with a jeweller becomes useful: the same budget can produce remarkably different rings depending on where you choose to put the money.

How to get the best engagement ring for your budget

Don't begin by trying to maximise every specification.

Begin by deciding what matters most.

If having a larger centre diamond is important, we can prioritise carat weight and explore the possibilities offered by lab-grown diamonds.

If you prefer a natural diamond, we can balance the four Cs to find a beautiful stone within your budget.

And if you've already saved an image of the perfect ring, a bespoke engagement ring allows us to identify what gives that design its character and create something specifically for your partner.

The objective isn't simply to get the largest diamond possible.

It's to make your budget work hardest for the ring she'll actually want to wear.

Should I tell a jeweller my engagement ring budget?

Yes.

People sometimes hesitate to disclose their full budget because they worry a jeweller will simply design up to it.

With a good bespoke jeweller, knowing the budget should do the opposite.

If you tell us you'd like to spend £3,000, £5,000 or £10,000, we can show you the strongest combinations of stone, metal and design available within that figure.

If diamond size matters most, we prioritise it.

If she has always wanted platinum, we protect that part of the brief.

If you've saved an image of her dream engagement ring, we can identify where spending makes a visible difference — and where it doesn't.

A budget isn't a target for us to reach. It's a design parameter.

How much should I spend on a luxury diamond engagement ring in the UK?

There isn't one correct number.

The UK average gives you a useful reference point. Your partner gives you a much better one.

Look at the jewellery she already wears. Does she prefer yellow gold, white gold or platinum? Modern or classic designs? Something understated or a diamond with real presence?

Then decide what you're genuinely comfortable spending.

Everything after that is design.

Looking for a bespoke engagement ring in London?

At Moyiola Abeo, we create bespoke engagement rings individually around your ideas, your partner and your budget.

You don't need to understand diamond terminology or arrive knowing exactly what you want.

Bring us a photograph, a rough idea, a ring she's mentioned before — or simply tell us about the person you're proposing to.

BEGIN YOUR BESPOKE ENGAGEMENT RING