Tuesday, December 6th, 2011...10:24 am

How Much to Spend on an Engagement Ring JEWELRY

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Are you shopping around Long Island for an engagement ring?   Deciding how much to spend on a ring is no easy task.  There are plenty of factors to consider, and that only gets you to an idea of what you want to buy.  Then you need to find the right place; somewhere that is going to treat you right and give you the best bang for your buck.  A leader in this industry is without question www.justmensrings.com

But knowing where to shop is only part of the puzzle.  For years, the rule of thumb has been to spend two months salary on a ring.  But in this economy, is that really the way to go?

Not quite, according to Stuff About Money: No BS Financial Advice for Regular People. “When you consider that the median income of the average worker in the United States is roughly $40,000 a year, that puts the average cost of a ring at roughly 13% of a man’s income. If you use the two months salary rule, that puts you in a $6,600 ring that eats of 16.5% of your income.  By all financial standards, that’s too much. Way too much.”

I completely agree. But you don’t have to forgo the romance of a beautiful ring.  There are myriad ways of finding a unique engagement ring without spending a small fortune.  Consider shopping at a reputable consignment store or an antique store.   And check this out — if you stop by Antiques and Jewels at 293 Main Street  in Huntington Village on December 11 or 18, you can  include your name in a raffle — the prize is this vintage 18K white gold ring featuring three diamonds and two square sapphires (valued at $500.).  The drawing will be held on December 21st.   And if you win, you’ll have a one-of-a-kind ring that cost you — nothing!