How much should you spend on an engagement ring?

Poll of the Day

acesxhigh posted...
it's not like the exact amount is set in stone, but typically if you ask women what ring they want, they will select an amount that makes you uncomfortable but is not so high that it's financially infeasible. basically it's a test of commitment.

and are you sure nobody wants to spend that much on a ring? even a mall ring you could easily spend 10-20k, then you start looking at brand name stuff like Tiffany which is not all that rare.

I proposed recently with a ring that cost significantly less than a months take home. Any comments about the value of the ring have been about how Ive been extravagant. The fact is, most people dont know the value of a ring when they look at it.