Ring Guidelines
Typically, when you are looking at a purchasing an engagement ring your budget should be around 2 months worth of pay. However, this is just a guideline and can really change if you have more money in savings or if you apply for a payment plan. Most major jewelery stores have credit cards available to customers that allow you to put the ring on the credit card. If the credit card has zero interest this can be a really good payment option. Just be sure that you pay attention to how long the zero interest will last and pay off the ring before the interest increases.
Most people will buy the engagement ring and wedding rings together in a set. This is a changing idea though, nowadays more and more people are just buying a nicer engagement ring and not getting a wedding ring too.