In Episode 4 of Big Stones, private jeweler and diamond expert Dan Moran of Concierge Diamonds discusses how to properly set a budget for your engagement ring.

Question: how much should you spend on the ring?

This is a delicate question that makes a lot of people nervous. But it’s one of the key things you need to know when deciding on the ring to buy.

Again, there’s a lot of misinformation on the Internet about how much you should or shouldn’t spend and it’s my job to set the record straight. It’s long been popular thought that you want to spend two months’ salary on an engagement ring. This is bad advice.

For Dan’s best advice on how to set a budget for an engagement ring,  listen to the podcast here.