Two in three people would not spend the recommended three months’ salary on an engagement ring.
Tradition dictates someone planning to propose should spend at least three months of their salary on an engagement ring as a rule of thumb. In the UK, this is about £7,650 ($9,900).
However, 68% of people think the 3 month rule on an engagement ring is too much, according to a survey of 2,300 people by jeweller Diamonds Factory.
Overall, less than a third (28%) of Brits think they should spend three months’ salary on a ring. This rises to just one in three singletons, the survey found.
On average, people think they should spend £2,853 on a ring – but actually spend £1,865.
The study found that 37% of Londoners are happy spend more than a whopping £9,000 – a month's salary in the capital – for an engagement ring
Over a third of Northern Irish people (38%) and 35% of Scots said they would spend three months’ of their salary on a ring.
The study also found a small discrepancy on views towards gender roles.
About 94% of men think men should buy the ring, compared to a slightly smaller 91% of women who think men should make the purchase.
Meanwhile, 8% of adults think the cost should be shared, but only 4% actually split the cost.
“It is clear that the majority of both parties still see the man as the person who buys the ring, with the same number supporting the fact that the man is expected to take all of the cost,” said Ben Stinson at Diamonds Factory.
“While the data shows the traditional 'three month rule' is very much seen as something of the past, we've found there are no spending limits when people find their dream ring.
“Although we’re still seeing London as the highest average spenders, spending power has certainly increased around the rest of the UK, and we expect this trend to continue.”
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