When it comes to wedding planning, one of the biggest purchases a couple will make is the wedding ring. The wedding ring is, without a doubt, on top of the future groom’s list as it not only symbolises love and commitment – but also a large financial investment. Wedding rings are generally expensive, and one should really be prepared to spend when looking for one. This, therefore begs the question: How much should you spend on a wedding ring?
In Malaysia, the average cost of a wedding ring typically falls within the range of RM1,000 to RM6,000. However, this range can vary greatly, from as low as RM600 to a premium of RM20,000 or more. The significant difference in cost is due to the diverse array of designs and materials available for crafting wedding rings.
For a middle-class couple, a budget of RM3,000 to RM6,000 provides a solid starting point. This budget allows for the purchase of a well-crafted ring with a high-quality diamond. Nevertheless, if you have other financial responsibilities or debts to manage, it might be more reasonable to spend less than 3% of your income on the ring.
Here is a general overview of the cost of wedding rings in Malaysia:
- Simple gold wedding band: RM600 to RM1,500
- Wedding band with diamonds or gemstones: RM2,000 to RM10,000
- Designer wedding band: RM10,000 or more
It’s important to note that these are just general guidelines. The actual cost of your wedding rings will vary based on various factors.
Factors to consider when budgeting for your wedding rings
1. Your overall wedding budget:
Firstly, when determining how much to allocate for a wedding ring, it’s often recommended to base your budget on a percentage of your total wedding budget. The general guideline is not to exceed 4% of your wedding budget on a wedding ring. However, this is merely a starting point, and the actual amount you spend may vary depending on various factors. For instance:
Your overall wedding budget: RM50,000
Recommended wedding ring budget: 4% of RM50,000 = RM2,000
This means that you should spend around RM1,500 on your wedding rings. However, you can adjust your budget depending on your other financial obligations and debts.
The most important thing is to choose wedding rings that you and your partner love and that you can afford.
2. The type of ring you want:
Your choice of wedding ring style significantly influences its price and is a deeply personal decision. Do you and your partner prefer the timeless allure of a classic design, exemplified by plain gold bands that radiate tradition? Or is your taste more inclined towards contemporary and sophisticated aesthetics, featuring intricate details and innovative materials?
This choice also extends to whether you envision a ring adorned with diamonds or other gemstones, adding opulence and brilliance, albeit with a higher price. Alternatively, an elegant plain gold band, exuding simplicity and understated beauty, offers a budget-friendly yet timeless alternative.
This selection, reflecting your unique style as a couple, goes beyond cost – it symbolizes your shared journey and the love you’ll celebrate daily as a married couple.
3. The quality of the ring:
The quality of the materials and craftsmanship used in the ring also influences its price. Rings made with high-quality materials and exceptional craftsmanship will come at a higher cost. Consider your lifestyle and whether you need a ring durable enough for everyday wear or a more delicate one for special occasions.
At Michael Trio, we take pride in offering the finest craftsmanship for our jewellery. Our commitment to quality is evident in every piece we create. When it comes to the quality of our rings, there are two key aspects to consider:
- We use only the highest quality materials to craft our jewellery, ensuring that they meet the highest standards.
- Our skilled artisans employ meticulous craftsmanship in every ring we produce, resulting in a level of quality that surpasses expectations.
When you choose a ring from Michael Trio, you’re not just selecting a piece of jewellery; you’re choosing a symbol of enduring quality and craftsmanship that will be cherished for a lifetime.
Tips for saving money on your wedding rings:
As mentioned above, we recommend not to get yourself in a financial slump when buying a wedding ring. Therefore a smart way to save money is to find formidable alternatives that still look great while not breaking the bank:
- Classic design: Consider classic wedding rings with simple, high or low dome designs without attached diamonds, as these are more budget-friendly compared to those with diamond settings.
- Lab-grown diamonds: Lab-grown diamond are also becoming increasingly popular as an affordable alternative to natural diamonds.
- Gemstones: Gemstones such as amethyst or morganite can also help to lower the price of your wedding ring, as well as creating a wedding ring that is unique.
Choose the best for you
Ultimately, the most important thing is to choose a wedding ring that represents your love and commitment to each other, regardless of its price tag. With a little planning and consideration, you can find a ring that fits your budget and makes your special day even more meaningful.
At Michael Trio, you can acquire your wedding ring with the best craftsmanship and competitive pricing. Our customization options ensure that your ring becomes one of a kind, tailored to your unique style and love story.
Oh, and one last thing to consider – when you’re in the market for wedding rings besides the price, is the size! There’s no one-size-fits-all when it comes to rings, therefore do choose the right size ring for you and your partner before purchasing.
