While there is obviously a big debate about how much to spend on an engagement ring, as the bride the cost of that is somewhat out of your hands – even though on your hand is exactly where it ends! So we’re here to discuss the next jewellery requirement to budget: Wedding rings, and what the average wedding ring cost actually is.
Typically wedding rings are a simpler design than the engagement ring, but how much does that simplicity cost?
Average Wedding Ring Price
In a study conducted in the USA, it was found that the average cost of a female wedding band in 2019 was $1,000 and the average wedding ring cost of a male’s wedding band was $510. Here’s what that looks like in Aussie dollars:
Bride’s wedding band // $1,679
Groom’s wedding band // $856
However, there are statistics that opt for a percentage of pay to dictate the wedding ring cost, with many reporting that couples should reserve between 4% and 8% of their yearly income for their wedding bands. For the average Australian salary (coming in at $82,436) that means spending between $3297 and $6594 on your wedding rings.
Most Popular Wedding Ring Styles
In recent history, white gold has been a favourite of brides for their wedding band while tungsten was a popular choice for grooms (which is an ashy grey or black hue). However, the undisputed classic option for both male and female styles is to have a classic smooth band in platinum.