The age-old question, "How much should I spend on an engagement ring?" continues to be a hot topic in 2025. With economic challenges, shifting priorities, and evolving traditions, the answer isn’t as straightforward as it once was. The outdated "three months' salary" rule is no longer the standard — today, couples are focusing on meaningful investments, balancing financial responsibility with the desire for a high-quality ring that will last a lifetime.

Finding the Right Budget for You

The reality is that every couple’s financial situation is different. With the rising cost of living and economic uncertainty, young couples are more conscious of their spending than ever before. However, an engagement ring isn’t just a fleeting purchase — it’s a lifelong symbol of love, commitment, and a future together. It’s also a piece of jewellery that can be passed down through generations, making quality a crucial consideration.

Instead of focusing on a fixed percentage of your salary, consider these factors when setting your budget:

• Your financial situation – What can you comfortably afford without going into debt?

• Long-term value – This ring will be worn every day, so investing in quality is key.

• Your partner’s preferences – Would they prefer a traditional diamond, a unique gemstone, or a custom piece?

• Your wedding plans – Many couples are choosing to reduce wedding costs, allowing them to invest more in their rings.

Smart Ways to Maximise Your Budget

If you’re looking for a stunning engagement ring without breaking the bank, there are several ways to maximise your budget without sacrificing beauty or quality.

Lab-Grown Diamonds – A Stunning and Affordable Option

Lab-grown diamonds have become a game-changer in the jewellery industry. These diamonds are chemically, physically, and optically identical to natural diamonds but come at a significantly lower price. Here’s why they’re worth considering:

• More for Your Money – Lab-grown diamonds cost 30-50% less than their natural counterparts, allowing you to get a larger, higher-quality stone within your budget.

• Sustainable and Ethical – For eco-conscious couples, lab-grown diamonds provide a conflict-free option without the environmental impact of mining.

• Timeless Beauty – Unlike alternative stones like moissanite or cubic zirconia, lab-grown diamonds hold their value and brilliance over time.

Remodelling Pre-Loved and Heirloom Jewellery

A beautiful way to create a meaningful engagement ring is by remodelling old jewellery or incorporating heirloom diamonds. If you have a piece of jewellery passed down from a loved one, our team at Morgan & Co can breathe new life into it, crafting a design that feels personal and modern while preserving its sentimental value.

Benefits of remodelling jewellery —

• Cost-Effective – Using existing diamonds or gold reduces the cost of sourcing new materials.

• Deeply Meaningful – An heirloom ring carries history, love, and family traditions.

• Fully Customisable – Our expert designers can transform old jewellery into a completely new, custom-designed piece that reflects your unique love story.

The Shift in Wedding Trends: Smaller Celebrations, Bigger Investments in Rings

With the rising cost of weddings, many couples are choosing to downsize their celebrations—or even elope. Intimate weddings, micro-weddings, and elopements allow couples to focus on what truly matters: their commitment to each other. Instead of spending tens of thousands on a one-day event, they are investing in lifelong symbols of love, such as high-quality engagement rings and wedding bands.

This shift means couples are prioritising:

• Timeless quality over extravagant events

• Bespoke, sentimental jewellery over mass-produced designs

• Financial security while still celebrating their love in a meaningful way

Why Quality Matters in an Engagement Ring

While it’s important to be mindful of your budget, an engagement ring is not an area to compromise on quality. Unlike other expenses, this ring is something that will be worn every single day, for decades to come. Poor-quality rings may need costly repairs or replacements in the future, making them more expensive in the long run.

At Morgan & Co, we specialise in crafting high-quality, bespoke engagement rings tailored to your style and budget. Whether you’re looking for a custom-designed ring, a lab-grown diamond, or a remodelled heirloom piece, we’re here to guide you through the process and create something truly special.

Start Your Engagement Ring Journey With Us

Your engagement ring is one of the most personal and meaningful investments you’ll ever make. If you’re ready to explore your options, visit our intimate Buderim-based studio for a consultation. Our expert team will work with you to design a ring that not only fits your budget but also tells your unique love story.

Get in touch today to start your journey toward the perfect engagement ring, crafted with love and care by Morgan & Co.

With Love,
Morgan xo