Photo: Flickr / JoePhilipson
The more money a guy makes and the younger the bride, the more he spends on an engagement ring.And, no, most guys don’t spend three months of salary on it.
Lee Cronk and Bria Dunham investigated the amount that men spend on engagement rings as well as factors that might affect the amount spent. The average yearly income of the surveyed men was $41,858.20, with the amount spent on engagement rings $3,531.72. In other words, men spent 8.44 per cent of their annual incomes on the rings, which is a far cry from the 25 per cent norm. The total spent on rings was positively correlated to the annual incomes of both men and women but negatively correlated to women’s ages.
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