How much should you spend on an engagement ring? This question often triggers a wave of uncertainty, especially when considering the average engagement ring cost. We're here to provide guidance through this journey. 

In this post, we'll help you understand how to determine your personal budget for that perfect ring. We'll delve into understanding quality over carat weight and how it impacts the overall price of diamond engagement rings. 

We'll also discuss ethical shopping practices and why they matter in your quest for a beautiful ring. Furthermore, we’ll emphasise the importance of personalised experiences during your engagement ring shopping journey. 

Finally, learn why avoiding off-the-shelf rings could cut engagement ring costs while still securing an exquisite piece. So let's dive into discovering how much you should really spend on an engagement ring.

Table of Contents: 

    • Get a Grip on Your Budget
      Bespoke Rings That Won't Break the Bank 
      Knowledge is Power 
    • Consider Quality
      Meticulously Crafted Rings by Skilled Artisans 
      Australian Made Quality Assurance 
    • Shop Ethically
      The Importance of Ethical Sourcing 
      Making A Difference With Your Purchase 
    • Personalised Experience
      Australian Made Quality 
      Bespoke Design Process 
      Your Ring Your Way 
    • Avoid Off-the-Shelf Rings
      The Downside of Off-The-Shelf Rings 
      The Morgan & Co Difference 
      Ethical Sourcing: A Priority at Morgan & Co 
    • FAQs in Relation to How Much Should I Spend on an Engagement Ring
    • Conclusion

    1. Get a Grip on Your Budget 

    As you embark on the exciting journey of selecting an engagement ring, understanding your budget is an important first step. At Morgan & Co, we emphasise that the love your ring symbolises is far more important than its price tag. We believe that a ring, like love, isn't measured by its monetary value but by the joy it brings to you and your partner. 

    Our promise is not about promoting the most expensive rings; it's about finding the perfect fit for your budget, taste, and love story. Every love story is unique, and we honour this by offering a diverse range of rings, catering to a variety of budgets. Whether you're drawn to classic elegance, modern sophistication, or unique charm, there's something for everyone at Morgan & Co. Check out our selection of engagement rings here. 

    We're not just jewellers; we see ourselves as guides in your journey. Navigating through countless options can be overwhelming, but our experts are here to help. We listen to understand your preferences and provide personalised guidance, ensuring you find a ring that is a true reflection of your love and commitment. Book a complimentary consultation with us either virtually or in-person here: Contact Us 

    With Morgan & Co, you don't have to worry about going beyond your means or settling for less. We're committed to helping you find the perfect ring that fits both your budget and your love story, without any compromise. At the end of the day, our mission is to celebrate your love in a way that's as affordable as it is meaningful.

    Bespoke Rings That Won't Break the Bank 

    At Morgan & Co Jewellery, we believe everyone deserves a stunning piece of jewellery, no matter their budget. That's why we offer bespoke services, creating custom-made rings that are tailor-made for you without emptying your wallet. 

    Knowledge is Power 

    Research different styles, materials, and gemstones before you make any final decisions. This way, you'll be armed with knowledge and won't get blindsided by unexpected costs. 

    • Go for smaller diamonds: They're just as sparkly but won't cost you an arm and a leg.
    •  Quality over size: A small diamond of high quality will outshine a big one of poor quality any day.
    • Add personal touches: Birthstones or favourite colours can make a ring special without breaking the bank.

    Understanding your budget is key to finding the perfect engagement ring. At Morgan & Co Jewellery, we're here to help you find your dream piece without draining your bank account. Let's make this investment process a breeze. 

    Key Takeaway:

    Before diving into the world of engagement rings, it's important to understand your budget. Seek advice from experts with a custom consultation at Morgan & Co, who will guide you through the process of finding a stunning ring without breaking the bank. 

    2. Consider Quality 

    Don't skimp on excellence when it comes to choosing an engagement ring; opt for the highest quality possible. A high-quality ring not only looks stunning but also stands the test of time, becoming a cherished heirloom for generations to come. At Morgan & Co Jewellery, we understand this and are committed to providing you with nothing but the best. 

    First, choose the right materials. The diamond is the star of the show, so make sure it meets your expectations in terms of cut, clarity, colour, and carat weight - aka 'The Four Cs'. Our expert jewellers can help you find the perfect diamond that matches your preferences and budget. 

    However, the metal type is just as important. Whether you like traditional yellow gold or contemporary platinum or palladium bands, our team at Morgan & Co will help you choose a ring that suits your style and lifestyle. Let us guide you in your decision with a complimentary consultation. Click here to book

    Meticulously Crafted Rings by Skilled Artisans 

    Our rings are crafted with love by skilled artisans who pay attention to every detail. From securely setting the stone to ensuring a perfect fit on your finger, we take pride in our workmanship. 

    Australian Made Quality Assurance 

    We're proud that every piece we create is Australian made, using ethically sourced diamonds. This means strict quality control processes are followed at every stage of creation. 

    Ethical Sourcing: Beyond Just Quality 

    At Morgan & Co Jewellery, ethical sourcing is a priority. We ensure that all our diamonds come from conflict-free zones through the Kimberley Process Certification Scheme (KPCS). By purchasing from us, you not only get top-tier products but also contribute to responsible mining practices globally. 

    Quality Over Quantity: An Investment Worth Making 

    • An investment in a high-quality engagement ring is more than just a monetary value. It symbolises the love and commitment between two individuals, making it a priceless possession. So, always prioritise 'quality over quantity' when searching for the perfect engagement ring because its sentimental worth surpasses everything else.

    Key Takeaway: 

    When it comes to engagement rings, don't compromise on quality. Choose the right materials and ensure your diamond meets your expectations in terms of cut, clarity, colour, and carat weight. At Morgan & Co Jewellery, we prioritise ethical sourcing and

    craftsmanship to create Australian-made rings that are not only stunning but also symbolise love and commitment. 

    3. Shop Ethically 

    In today's world of sustainability and ethical consciousness, it is essential to take these considerations into account when looking for an engagement ring. At Morgan & Co Jewellery, we offer ethically sourced diamonds in all our pieces. 

    The Importance of Ethical Sourcing 

    Choosing ethically sourced diamonds from us means making a statement about your values. You contribute to better working conditions for miners and protect precious ecosystems. 

    Making A Difference With Your Purchase 

    Your decision to shop ethically can improve the lives of those involved in diamond extraction processes worldwide. It goes beyond fair wages and includes healthcare access, education, and sustainable business models. 

    Australian Made And Meticulously Crafted Engagement Rings

    All our engagement rings are Australian made using Kimberley Process-certified diamonds. This certification guarantees conflict-free diamonds adhering to international labour and environmental standards. 

    Transparent Supply Chain 

    We believe in transparency. That's why we provide detailed information about the origin of each diamond. We work with trusted suppliers who share our commitment to responsible sourcing. 

    Finding The Perfect Ethical Diamond Ring 

    If finding an exquisite yet morally sound engagement ring matters most, look no further than Morgan & Co Jewellery. We offer virtual or in-store consultations to create the perfect symbol of your love story while upholding core values. 

    "Shop ethically for your engagement ring at Morgan & Co Jewellery. We offer Australian made, ethically sourced diamonds that make a difference. #EthicalJewelry #SustainableLiving" 

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    1. Personalised Experience 

    For purchasing an engagement ring, a tailored experience can make all the difference. At Morgan & Co Jewellery, we believe that every love story is unique and deserves a custom piece of jewellery to match. 

    Start with a consultation to discuss your vision, budget, and preferences with our expert jewellers. Whether in-studio on Australia's Sunshine Coast or virtually, we'll work closely with you to design a ring that exceeds your expectations. 

    Book your complimentary consultation here.

    Australian Made Quality 

    All our pieces are meticulously crafted in Australia using ethically sourced diamonds. Rest assured knowing each diamond has been carefully selected for its brilliance and quality by our skilled gemologists. 

    Bespoke Design Process 

    Our detailed process ensures your custom engagement ring is perfect: 

    • Design Consultation: Discuss your ideas and visions for the perfect ring.
    • Diamond Selection: Choose from our range of ethically sourced diamonds based on the 4Cs - cut, clarity, colour, and carat weight.
    • Craftsmanship: Handcraft the piece using traditional techniques and modern technology for precision and perfection.

    Your Ring Your Way 

    No matter your style - classic solitaire, vintage-inspired, or something unique - we'll bring it to life while staying within your budget. At Morgan & Co Jewellery, 'Your Ring Your Way' is a promise kept. 

    "Create your dream engagement ring with Morgan & Co Jewellery. Our personalised experience and Australian made quality ensure a perfect piece that reflects your unique love story. #EngagementRing #CustomJewelry" 

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    5. Avoid Off-the-Shelf Rings 

    Don't settle for a ring that's as generic as a knock-knock joke. Off-the-shelf rings may be convenient, but they lack the personal touch and quality of a custom-made piece from Morgan & Co Jewellery

    The Downside of Off-The-Shelf Rings 

    Buying an off-the-shelf ring is like getting a mass-produced painting - it lacks depth and individuality. These rings are often made with cheaper materials and less attention to detail, leading to durability issues. 

    The Morgan & Co Difference 

    At Morgan & Co Jewellery, we create bespoke pieces that are as unique as your love story. Our custom-made engagement rings are crafted with ethically sourced diamonds, ensuring both beauty and peace of mind. 

    Ethical Sourcing: A Priority at Morgan & Co 

    When you choose Morgan & Co, you're not just getting a stunning ring - you're supporting ethical practices. We only use diamonds that are ethically sourced, so you can feel good about wearing your ring. 

    Avoiding Regret: Invest In Quality Over Convenience 

    Don't let regret be the punchline of your engagement story. Rather than opting for expedience, invest in a bespoke ring that will remain timeless. 

    Your Story Deserves More Than Just An 'Off-The-Shelf' Ring 

    Don't accept a plain, uninspired band - make your union remarkable with a custom-crafted ring. Let Morgan & Co create a custom-designed piece that reflects your unique journey together. 

    At Morgan & Co, your unique journey inspires our bespoke designs. Each piece we craft encapsulates special moments, echoing your individual experiences and style. To fully capture your vision, we offer a complimentary consultation with our expert designers. 

    Begin crafting your own timeless treasure today - book your complimentary consultation here with Morgan & Co. 

    "Choose quality and individuality for your engagement ring. Morgan & Co Jewellery creates custom-made pieces with ethically sourced diamonds. #EngagementRing #CustomMadeJewelry" 

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    FAQs in Relation to How Much Should I Spend on an Engagement Ring 

    Is $20000 too much for an engagement ring? 

    The right budget for an engagement ring is entirely personal and depends on your financial situation. 

    Is $5000 too much for an engagement ring? 

    A $5000 budget can get you a beautiful, quality custom-made engagement ring.

    Is $3000 too much for an engagement ring? 

    You can still find stunning, ethically-sourced rings at Morgan & Co within a $3000 budget.


    When it comes to buying an engagement ring, remember: it's the thought that counts, not the price tag. Don't break the bank for a rock; set a budget that won't leave you crying at the altar. 

    Size isn't everything, so prioritise quality over carats and go for a ring that sparkles with love. And hey, why not make a positive impact while you're at it? Support brands that ethically source their diamonds. 

    Forget off-the-shelf rings; create a one-of-a-kind piece that screams "us" and reflects your unique love story. 

    At Morgan & Co, we take pride in crafting one-of-a-kind pieces that truly reflect your unique journey. We understand that every love story is special, and our aim is to encapsulate those special moments into timeless treasures. With keen attention to your individual experiences and style, we curate designs that resonate with you. To better capture your vision, we encourage a personalised approach through a complimentary consultation with our expert designers. Start your journey towards creating a beautifully bespoke piece today - book your complimentary consultation today and let Morgan & Co transform your stories into exceptional mementos.

    July 07, 2023 — Morgan Gaskin