How Much Should a Wedding Ring Cost?
Understand all the financial factors to consider when shopping for a wedding ring.
The traditions and "rules" around wedding rings are evolving—modern couples now enjoy much more flexibility. These days, there are no strict standards about which partner should purchase the wedding band. Instead, shopping for wedding bands has become a joint decision-making process, and the cost of wedding rings is determined by the couple's budget, personal style, and shared values.
Average Wedding Ring Cost
The cost of a wedding ring can vary widely based on factors like the metal type or any gemstones set in the band. For plain metal bands with simpler designs, you can expect to pay a few hundred dollars, while more elaborate designs with diamonds can cost several thousand dollars.
While trends in wedding and engagement rings influence average costs, the final price of a wedding ring can be as modest or extravagant as the couple desires. The key is to set a budget that reflects your personal preferences, ensuring that the rings you choose are meaningful and practical for your lifestyle.
How Much Are Wedding Rings?
Wedding bands come in a wide variety of precious metals and widths, which affect the overall cost. Simpler wedding rings without diamonds or gemstones typically cost a few hundred dollars, while custom designs, engravings, and the addition of diamonds or gemstones can elevate prices to the thousands.
Starting with a budget based on your financial situation will give you a clear sense of your options. Open communication about preferences and financial expectations is crucial to make sure both partners are comfortable with the decision.
Who Buys the Wedding Bands?
Traditionally, partners would purchase each other’s wedding bands. The bride (or the bride’s family) would buy the groom’s wedding band, and the groom (or the groom’s family) would purchase the bride’s wedding band. This exchange symbolized mutual gift-giving that represented commitment and partnership.
One Partner Buys Both
In some relationships, one partner may have significantly more financial resources than the other. In these cases, that partner might purchase both wedding bands. This doesn’t diminish the symbolism of the rings but simply recognizes the practical financial situation of the couple.
While traditions offer guidance, there is no “correct” answer to who should buy the wedding bands. The most important factor is choosing an approach that feels right for your relationship, values, and financial situation.
As relationships have evolved to emphasize equality and shared responsibility, so too have the traditions surrounding wedding bands. Here are some contemporary approaches that many couples now prefer:
Joint Purchase
Many couples now shop for their wedding bands together and share the cost. This approach recognizes the wedding as a mutual commitment and the bands as a shared expense. Some couples even open a joint account specifically for wedding expenses, including the rings.
This method allows partners to:
- Select rings that complement each other
- Ensure the rings match in style or metal if desired
- Share the financial responsibility
- Make the decision together, reflecting their partnership
Individual Purchase
Some couples maintain elements of surprise and gift-giving by each buying the other’s ring but coordinating styles. This preserves the sentiment of the tradition while allowing each person to select a ring that perfectly suits their partner’s taste and lifestyle.
Other couples may each purchase their own ring, especially when they have specific preferences about comfort, style, or material. This approach recognizes that the person wearing the ring daily may have the best insight into what will work for them.
Factors to Consider When Deciding Who Buys the Wedding Bands
When determining who will purchase the wedding bands, consider these factors:
1. Budget and Financial Situation
Have an honest conversation about your finances. Wedding expenses add up quickly, and it’s important to approach ring purchases with a clear understanding of what’s feasible for each partner.
Some questions to consider:
- Do you maintain separate finances or share expenses?
- Does one partner have significantly more disposable income?
- Are there other wedding expenses that might be prioritized?
2. Personal Significance
For some, the act of purchasing a wedding band for their partner holds deep sentimental value. If either partner feels strongly about maintaining certain aspects of ring-giving traditions, it’s worth honoring those feelings.
3. Practical Considerations
Some practical aspects might influence your decision:
- Ring styles and preferences
- Timing of purchases
- Desire to surprise vs. shop together
- Whether the bands should match or coordinate
Wedding Ring Budget Tips
Here are several ways to maximize your wedding ring budget:
- Consider Metal Options: Different metals have varying costs. Platinum is more expensive than gold, while other alternative metals can be more affordable.
- Bridal Sets: If you haven’t purchased an engagement ring yet, consider a bridal set. They are expertly curated to match each other and can be more cost-effective as they include both the engagement ring and wedding band.
- Durable Choices: Choose metals and gemstones that are durable and require minimal maintenance, such as platinum, gold, tungsten, diamonds, and sapphires. Learn more about the most durable metals and gemstones in our comprehensive platinum vs. gold, diamond guide, and sapphire guide.
- Classic Designs: Opt for classic designs that remain stylish over the years, avoiding the need for trend-forward replacements.
- Maintenance Costs: Factor in the cost of regular maintenance like cleaning, re-plating, and stone tightening, and choose a lower maintenance metal—like platinum—if ongoing costs are a concern. Explore the benefits of our and programs like Extend.