GDPThis is an abbreviation for Gross Domestic Product, which is the total value of all goods, services, agricultural produce and minerals extracted in a country or area, usually in one year.
Rule #4: Spend the Average Cost of a Ring. According to the a 2013 report by Jewelers of America, couples spent an average of $4000 on an engagement ring in 2012. You always have the option of presenting your potential fiancÃ©e with this information and suggesting he or she spend the average amount.
In keeping with this advice, here are some factors youâll want to consider as you determine how much to spend on an engagement ring: 1  Financial Situation. 2  Partnerâs Expectations. 3  Meaningfulness of Ring.