Engagement Rings

A recent study done by home insurance firm, Liverpool Victoria, grooms-to-be used to spend about 3 months' salary on a ring  but today, 2/3's of that number are spending about 3 weeks' salary. So while in 2007 men were spending $8,000 on his fiancé's ring, they're now spending about $2,000. The study also found that more than 50% of surveyed women had absolutely no idea how much their ring cost- but figured about a months' salary. 40% of surveyed men refused to tell how much they spent and 3% confessed to lying about how much they spent- spending less than they said they did.