How Much Should You Spend on Wedding Rings?

A Realistic Guide for Modern Australian Couples

For something meant to last a lifetime, wedding rings come with surprisingly little guidance on what you “should” spend. One moment you're browsing simple gold bands, and the next, you're staring at price tags that rival holiday budgets.

At Diamond Lab, we’re often asked:
“How much should I spend on a wedding ring?”

And the truth is — there’s no one-size-fits-all answer. But there is a smart, personal, and stylish way to approach it. Let’s break it down.

Forget the “Three-Month Salary” Rule

You may have heard the old-school rule that engagement and wedding rings should cost two to three months’ salary. That idea originated from a marketing campaign — not from any real logic or financial wisdom.

What matters more today?
• Your lifestyle
• Your financial goals as a couple
• Your shared values about symbolism vs spending
• What you both actually love and want to wear every day

In other words, your ring budget should work for you, not impress anyone else.

What Do Most Australians Spend on Wedding Rings?

Let’s look at some current averages (as of 2025):

💍 Women’s Wedding Rings:
From $800 for plain 14k gold bands
Up to $2,500–$4,000+ for diamond-set or custom rings

🖤 Men’s Wedding Rings:
From $700 for simple gold or titanium
Up to $5,000–$6,500 for intricate designs or custom textures

At Diamond Lab, most of our clients spend between $1,200 and $2,500 per ring, depending on metal type, design complexity, and whether diamonds are included.

Explore options:
– Women’s Wedding Rings
– Men’s Rings

What Factors Affect the Price of a Wedding Ring?

If you’re unsure why some rings cost $900 and others $4,000, here’s what drives the difference:

1. Metal Type
– Platinum: Most expensive, dense, and durable
– 18K Gold: Premium, luxurious, soft glow
– 14K Gold: Affordable, stronger for everyday wear
– Titanium/Tungsten: Common for men’s bands, durable and budget-friendly

2. Design Style
– Plain bands are more affordable
– Diamond-set bands, pavé detailing, or engraved motifs cost more
– Custom profiles or mixed metals (e.g., two-tone) add to the craftsmanship

3. Diamond or Moissanite Additions
Adding even a few stones — whether hidden or full pavé — increases cost. Moissanite offers a more affordable sparkle than diamonds with brilliant fire and durability.

4. Sizing & Resizing Complexity
Custom fits (e.g., for wider bands or special shapes) may increase production costs. At Diamond Lab, resizing support is always available.

How to Set a Realistic Budget for Wedding Rings

Here’s our 4-step guide to finding your comfortable number:

1. Talk It Out
You’re about to merge lives — start with merging expectations. What do each of you want in a ring? Classic or standout? Minimalist or glam?

2. Prioritise Must-Haves
Decide what matters most:
– A specific metal?
– A symbolic engraving?
– Matching sets?
– Something custom?

3. Look at Your Wedding Budget as a Whole
Instead of isolating the ring, see where it fits within your broader wedding or elopement budget. Many couples now prefer to invest more in lifelong elements (like rings) than fleeting ones.

4. Think About Longevity
The cost-per-wear on a ring worn daily for decades is incredibly low. Spending more for craftsmanship or personalisation may be worth it long-term.

Can You Still Get a Beautiful Ring on a Small Budget?

Absolutely. At Diamond Lab, we work with all budgets — and still create rings that feel luxurious, elegant, and 100% you.

Options under $1,000 include:
– Minimalist gold bands
– Moissanite-set wedding rings
– Half-bezel designs or petite pavé bands

Want more sparkle on a budget?
– Choose lab-grown diamonds or moissanite instead of mined stones
– Go for half-eternity instead of full eternity bands
– Opt for 14K gold over 18K for a more affordable metal with great durability

Start exploring:
– Custom Jewellery Design
– Moissanite Tennis Bracelets (a unique ring alternative or wedding gift)

Bonus: Matching Sets vs Individual Styles

Some couples love coordinated wedding rings, while others choose unique looks that reflect their individual personalities. At Diamond Lab, we help you do both:

• Create custom matching bands with personalised details
• Or design two completely different rings that still feel connected by meaning

Explore the Two-Tone Collection or request a bespoke set.

Frequently Asked Questions

Q: Is it rude to spend too little on a wedding ring?
Not at all. What matters is that it’s meaningful and chosen with care. Budget doesn’t define commitment.

Q: Can we design a custom ring on a budget?
Yes — we specialise in creating custom designs for any price range. Our team will work with your budget and vision.

Q: Do we have to get matching wedding rings?
No. While many couples choose matching sets, others prefer personalised styles. There’s no wrong way to do it.

Q: What if my partner and I have different budgets?
That’s totally normal. You can still honour each other’s tastes while choosing rings that suit each individual’s budget.

Q: Can we upgrade our wedding rings in the future?
Definitely. Many clients upgrade their wedding bands for anniversaries or milestones — we can help plan for that.

Final Thought: It’s Not About the Price — It’s About the Meaning

At Diamond Lab, we believe the perfect wedding ring is one that feels like you. Whether you spend $800 or $8,000, what matters is the care, intention, and emotion behind it.

We’re here to make that process easier — and unforgettable.

Book a consultation or start exploring today:
Contact & Booking