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Millennials Are Saying “No” to Expensive Engagement Rings

Greg Mayhood
Greg Mayhood

I’m going to let you in on a little secret that until now, only my husband and I knew. My husband’s wedding band cost us approximately $36, shipping and engraving included. That’s it. $36 bucks.

Sure, we could have plunked down $500 or more on a wedding band, but why would we when we were able to get a ring of the same quality for a fraction of the price at a discount online store?

My husband falls into the Millennial age group and so this makes total sense- according to CNBC, people in my husband’s generation simply aren’t willing to fork over for expensive wedding bands or engagement rings.

Millennials are uber aware of finances and 31% of top tier Millennials, which are people between 27 and 36, say that no more than one month’s salary should be spent on a ring. What’s more, is that 10% of people said if you’re ring shopping that you should spend less than one-month’s salary and believe it or not, 3% said they wouldn’t spend a dime on a ring because they don’t believe that engagement rings are a necessity.

[via CNBC]

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