Grooms-to-be are certainly spending more for the woman of their dreams. A survey from a popular online wedding resource revealed that the average spending on engagement rings rose to $5,855, a 5% increase compared to 2013. A higher budget for these rings is observed along with bigger, more expensive weddings.
Typically, engagement rings are the second largest chunk in engagement and wedding budgets (topped by venue prices). A lot of grooms (nearly half of those surveyed) tended to go over their budget, and about 1 out of 5 of them didn’t even had a price range in mind to begin with. Every detail counts, and price seems to be an afterthought for many men who are about to propose.