One of the most common questions about promise rings is how much they should cost. Unlike engagement rings, which come with established (if often outdated) spending guidelines, promise rings exist in more flexible territory. This is actually liberating news: it means you can choose something meaningful without pressure to spend beyond your means. This guide helps you determine a sensible budget and find beautiful options within it.
There Are No Rules: Only Your Circumstances
The single most important thing to understand about promise ring budgets is that there are no rules. No tradition dictates what percentage of your income should go toward this purchase. No societal expectation mandates a minimum spend. The right amount is whatever you can comfortably afford without financial stress.
This flexibility exists because promise rings serve a different purpose than engagement rings. They're not status symbols or investments in the traditional sense. They're personal tokens of commitment, and their value comes from their meaning, not their price tag.
A thirty-dollar ring given with sincere love is infinitely more valuable than a thousand-dollar ring given without thought. Your partner will remember the moment and the meaning far longer than they'll remember what you spent.
Typical Price Ranges in Australia
Understanding what's available at different price points helps you set realistic expectations. Here's what you can generally expect to find in the Australian market:
Under $50
At this entry level, you'll find:
- Stainless steel and titanium bands
- Silver-plated and gold-plated options
- Simple designs with small cubic zirconia stones
- Fashion jewellery from fast-fashion retailers
These rings can look beautiful but may show wear faster. They're suitable for couples on tight budgets or those who want a "starter" ring before investing in something more durable.
$50 to $150
This popular range opens up more options:
- Sterling silver with quality CZ or small moissanite
- Gold vermeil with decorative settings
- Simple 9k gold bands
- Well-crafted designs from established jewellers
Many couples find excellent promise rings in this range. The quality is sufficient for daily wear, and the variety of styles is extensive.
$150 to $400
This mid-range budget allows for:
- Solid 9k or 10k gold with quality stones
- Larger moissanite centre stones
- Sterling silver with small natural gemstones
- More intricate designs and settings
$400 to $800
At this level, you're accessing:
- 14k gold with premium stones
- Significant moissanite sizes
- Natural gemstones like morganite or sapphire
- Small natural diamonds
- Designer pieces from Australian jewellers
$800 and Above
Premium budgets open doors to:
- 18k gold and platinum options
- Larger natural diamonds
- Custom designs
- Luxury brand offerings
- Under $50: Fashion jewellery, basic metals
- $50-$150: Sterling silver, quality CZ, gold vermeil
- $150-$400: Solid gold, larger moissanite
- $400-$800: Premium gold, natural gemstones
- $800+: Luxury metals, diamonds, custom designs
Factors to Consider When Setting Your Budget
Your Current Financial Situation
Be honest about what you can afford. Consider:
- Your monthly expenses and existing financial commitments
- Whether you have savings set aside for discretionary spending
- Upcoming expenses you need to prepare for
- Whether you'd need to use credit (generally not advisable for this purchase)
Future Ring Plans
If you anticipate giving an engagement ring in the future, factor this into your promise ring budget. Some couples intentionally spend less on promise rings knowing a larger purchase lies ahead. Others prefer a more significant promise ring if marriage isn't necessarily in their plans.
Partner's Expectations
While you shouldn't spend beyond your means to meet expectations, understanding your partner's preferences helps avoid disappointment. Some people genuinely prefer modest, understated jewellery. Others might value the ring less if they perceive it as "cheap." Gauge your partner's perspective through conversations about jewellery and values.
Daily Wear Considerations
If the ring will be worn daily, durability matters. Spending slightly more for a ring that will last years without issues may be wiser than saving money on something that deteriorates quickly. Consider the true cost over time, not just the upfront price.
If your ideal ring exceeds your current budget, consider waiting a few months while you save. This also gives you more time to be certain about the purchase and your partner's preferences.
Maximising Value at Every Budget
Prioritise What Matters
You can't have everything at every price point. Decide what matters most:
- Sparkle priority: Choose moissanite or CZ over natural stones
- Metal priority: Choose solid gold with a smaller or no stone
- Size priority: Choose lab-created over natural stones
- Durability priority: Choose harder stones and quality metals
Consider Lab-Created Options
Lab-created moissanite and diamonds offer the same visual and physical properties as mined stones at significantly lower prices. There's no ethical or quality reason to avoid them.
Shop Sales and Compare Prices
Promise rings aren't time-sensitive purchases for most couples. Wait for sales at major retailers, compare prices across multiple sellers, and don't hesitate to look at pre-owned options for precious metal rings.
Choose Classic Over Trendy
Timeless designs retain their appeal longer than trendy styles. A classic solitaire or simple band will still look beautiful in ten years; an overly fashionable design might feel dated.
Avoiding Common Budget Mistakes
Don't Go Into Debt
Using a credit card or personal loan for a promise ring is almost never worthwhile. The interest payments add to the true cost, and starting a committed relationship with debt is not romantic. If you can't afford what you want, wait and save.
Don't Confuse Price with Meaning
An expensive ring doesn't demonstrate more love than an affordable one. What matters is the thought, the meaning, and the commitment behind the gesture.
Don't Ignore Quality for Price
While you shouldn't overspend, extremely cheap rings may disappoint. A ring that tarnishes in weeks or loses stones will feel like a waste regardless of how little you paid.
Be cautious of rings priced dramatically below market rates. Poor quality metals can cause skin reactions, thin plating wears off quickly, and cheaply-set stones fall out easily. Read reviews and buy from reputable sellers.
Practical Budgeting Steps
- Assess your finances honestly and determine a comfortable maximum
- Research options within your range to understand what's available
- Consider your partner's style and daily wear needs
- Prioritise the features most important to you both
- Shop around and don't rush into the first option you see
- Factor in any extras like sizing, shipping, or insurance
The Bottom Line
The "right" amount to spend on a promise ring is whatever allows you to give something meaningful while maintaining financial wellbeing. Whether that's fifty dollars or five hundred, the ring's true value lies in what it represents. Choose thoughtfully, spend wisely, and focus on the commitment you're making rather than the money you're spending.
Your partner fell in love with you, not your wallet. A sincere promise expressed through a carefully chosen ring will mean more than any price tag could communicate.