<prompt> Human: I know the national average is between 3500 and 5000. That seems high. I dont want to cheap out on something though.  <response>: It depends. There is no correct answer to your question. The only issue would be if you buy one you cannot afford. If you need to finance it, it is too much. If you need to use your emergency fund, it is too much. If it will keep you from saving 15 of your gross pay at a minimum towards longterm savings, it is too much. If you have bad debt credit cards, etc, anything more than 1-2k is probably too much heck even that is probably too much. If you are financially prudent, are saving enough, have an emergency fund, and have extra cash to buy a ring and both you and you future spouse want an expensive ring, go and buy it. You sometimes have to spend for things you want to spend on. There is nothing wrong with it, if you can afford it. With that said, everything has an opportunity cost. Lets say you can afford a 20k ring. Buying that 20k ring? That means 20k less down for a house or 20k less for vacations. Or just 20k less in savings or investments. Is the ring the best use of that 20k? Only you can decide. Most people overspend on a ring. Why? They dont have their financial house in order and elect to spend more than they can afford. If you have CC debt, a 1k ring is probably too much. Without knowing more, no one can really tell you the right number. And even if we knew more, we can give you a definitive answer perhaps you value a ring more than a vacation. 