A recent online survey conducted by the Harris Poll on behalf of TD Ameritrade shows several interesting trends on marriage, weddings and engagement rings among young Americans – defined in this survey as Gen Zs (ages 15-21) and millennials (ages 22-28), according to IDEX Online. First, two-thirds of young Americans think that an engagement ring should cost less than $2,500 – much less than the annual average. For instance, according to The Knot’s 2018 Real Wedding Study, the annual spend on an engagement ring was $5,680 last year. In addition, across generations, women expect to spend less on an engagement ring, “though the gap between men and women closes with each younger generation”. Additionally, more than half of young Americans said that marriage is a pivotal milestone. One in four said they were opting out of marriage altogether. Four in ten millennials plan to pay for their own weddings, while only 7% of parents expect that they won’t contribute. Tags: Diamonds News, Jewelry News, Diamond Jewelry News
A recent survey by the Harris Poll has shown two - thirds of young Americans think an engagement ring should cost less than $ 2,500 , which is much lower than the average actually spent . The Knot 's Real Wedding survey in 2011 found the real average expenditure on an engagement ring is $ 5,680 . One in four Americans said they have decided not to get married , while 40 % of millennials said they plan to pay for their own weddings . However , only 7 % of parents said they do not intend to contribute to the cost of their offspring 's wedding .