How much should you spend on a diamond ring in 2020

Times have changed. Contrary to popular belief that Diamond Rings have to cost at least three months of the guy’s salary, couples in this day and age would rather forego a pricey diamond ring in order to go on their dream honeymoon or to hold a grand wedding ceremony.

So, what should you look out for before deciding and spending on a diamond ring in 2020, the beginning of a new decade?

      1)    Budget Considerations

It is quintessential to consider your financial state before setting a budget, as they serve as markers for your budget. Almost every couple has their fair share of personal debts ranging from study debts to family debts, or housing debts from the flat that you have successfully BTO-ed for! So put into consideration your personal debts, without forgetting to factor in both your potential income and current expenses!

After deliberating over your combined finances, you should now have an estimate of how much to set aside for your diamond ring. With this budget, your next step would likely be to browse through endless Google searches of  “the Perfect Diamond Ring under $xxx”. You would then have to prioritize certain factors, such as the Diamond type and diamond cut you prefer. Unfortunately, there is no “one design fits all” Diamond Ring. Hence, the next step of your decision lies in your diamond type choice.

2)    Diamond Type

Whether you’d take inspiration from Meghan Markle’s Lab Grown Diamond earrings, or having eyes only for the purest of diamonds mined from close to Earth’s Core, the sparkling diamond ring is bound to make her the happiest woman on Earth! If you’re looking for a sturdier diamond type, a natural diamond ring would be the perfect pick!

3)     Diamond Shape

Would you prefer getting a Princess diamond for your princess, the Pear-fect diamond, or a Heart diamond as an epitome of your love for her? At Michael Trio, we carry a range of diamonds, the best of which, the Pure Hearts collection, are.. Psssst.. The world’s Top 0.01% of All Diamonds.

As the idiom goes: “To each their own.” Each couple’s requirements are different. Perhaps to some, the size of the diamond on the ring is equivalent to the amount of love that their relationship encompasses. While to others, the diamond ring is seen as a commodity instead of a necessity, entailing a lower budget. On the other hand, a minority of people may even prefer to forego their diamond ring for matching wedding rings that can be worn by both your fiancé / fiancée-to-be and yourself!  Whichever reason it is, what’s most important is understanding your partner’s expectations, requirements and crucially, her personal preferences before deciding on the type of diamond ring to purchase.

At Michael Trio, we offer a variety of Diamonds for you to choose from, with prices ranging from $254 onwards, depending on the shape, cut, carat, color and clarity chosen.

Here’s a rough gauge of prices according to the shape and carat weight (to the nearest hundred) :

Diamond Carat Weight	Shape	Price
1 carat	Princess	$2700
	Round	$2900
	Pear	$2200
0.5 carat	Princess	$700
	Round	$800
	Pear	$500

4)    Diamond Ring Setting

Knowing the diamond she likes is having half the battle won already! Moving on to the Diamond Ring setting however, is practically being launched back to square 1 instantly as you’re once again going to find yourself in an endless pool of choices to sieve from.

Opt for the Pave Ring setting for the new path the two of you are going to embark on, or the royal Halo that exudes nothing but luxury and prestige, or even subtle elegance with a Solitaire setting.

At Michael Trio, prices of settings vary from $466 for our simplistic Thin Knife Edge Solitaire Engagement Ring in 18K White Gold to $2448 for our stunning Halo Rise Four-Prong Diamond Engagement Ring (6/10 ct) in 18K White Gold.

5)    Shop Online

After condensing all the necessary information on your partner’s ideal diamond ring, it’s time for you to find out her ring size. If you’re embarking on “Mission Impossible: Find Her Ring Size” journey, you can follow this link for different ways to find out: (link to Ring Sizer Infographic if have) Request for your free ring sizer here: (link to ring sizer page) Otherwise, you could head down to our physical store to select your preferred diamond ring in person.

6)    Price range for diamond rings at Michael Trio

Alas, you’ve found the right one, or at least have a much better gauge of an ideal ring that suits her. More importantly, the Diamond Ring that you have chosen is not just a rock on a ring, but also signifies the time and effort put to go through endless choices and combinations for the one that suits her best. Simultaneously, it is also a symbolisation of both your love, commitment and willingness to invest in this beautiful love forged.

Fret not if you have not landed yourself upon the perfect Diamond ring yet, as we’ve got your back! At Michael Trio, we offer a complete customization of your engagement ring to ensure that we curate one that is unique to her. From the head, the band, and the shank type, nearly every part of the ring is customizable to suit your exact preferences. Our custom design services start at a rate of SGD 1000 and above. Furthermore, you could also consider purchasing online so as to cut down on the hassle of having to travel down to our physical stores.

Ultimately, it is quintessential to pick out a Diamond Ring that will not disappoint her. So, take into consideration all the factors such as your financial state, the choice of diamond shape, and ring setting so as to make a more accurate comparison between the prices.

Chat with us to customize the most ideal ring that ticks off all the checkboxes in your list and falls within your budget here (link to customization page).