How much the average UK man spends on an engagement ring revealed

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If you’ve ever thought about getting engaged then chances are you’ve also considered how much you or your potential fiancé should spend.

While there’s no hard-and-fast rule, there are plenty of myths when it comes to the cost of the bling from the three-month salary policy to the split-the-difference rule.

Now though, one jewellery retailer has revealed the exact amount the average man is prepared to spend and it’s less than most women would expect.

According to William May, a survey of 2,250 Brits revealed that the average man in the UK spends £1,471.01 - a price that just so happens to be £383 lower than the £1,854 the average woman said she would like her ring to cost.

The data also showed that men in the east of England are more likely to splash the cash on an engagement ring, revealing that they would fork out an impressive £1,696.43.

In contrast, men in Yorkshire were found to spend the least, admitting they wouldn’t be willing to exceed £1,261.

Similarly, it revealed that women in London had the highest expectations wanting their rings to cost an average of £2,347.83.

But they should prepare for disappointment as the survey showed the average London man is willing to spend only £1,501.91.

William May’s survey also offered an interesting insight into how couples choose their rings.

It found that 20 per cent of men admitted to simply picking the first one they saw, 10 per cent said they saw it advertised and just 6.7 per cent asked a friend for advice.

It might come as no surprise then to discover that 51.3 per cent of women said they would prefer to pick out their own engagement ring instead of leaving it up to their other half.

The news comes after a previous research from insurer Protect Your Bubble found that couples in the UK are now spending a fifth less – 19 per cent – on engagement rings than they did five to 10 years ago.

It also revealed that, of the 1,235 adults surveyed, the number of couples spending less than £500 increased by 18 per cent compared to previous years.