The general and most popular recommendation for this is to spend at least 2-3 months worth of your salary on your wedding or engagement ring. This rule has been tried and tested, and many bridal stores, wedding planners and experts would highly recommend sticking to this rule. However, every person will be different and will value a wedding ring differently. Take this as a rule of thumb but don't feel pressured to follow it.
Surveys show that the average amount spent on wedding rings in 2021 sits at a whopping $5,900, with a quarter of survey respondents spending around $1000-$3000, so the three month rule definitely comes in quite handy for those aiming for a really impressive wedding band! However, considering the amount of jewelry stores that produce wedding and engagement rings made out of alternative, yet equally beautiful and durable materials, wedding rings need not be as pricey as what they commonly were. The cost of wedding bands with alternative metals have become quite affordable and so more and more people are moving on from the “three month salary” rule, and are quite happy with their purchases!
At the end of the day, how much you spend on your wedding ring will be entirely up to you and your significant other!