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Engagement season is upon us, with December being the most popular month to propose worldwide, according to The knot.
And while traditionally, men were expected to shell out for that diamond — as Beyoncé said in 2008, he should have “put a ring on it” — many women are changing their expectations about who buys.
Nearly 71% (70.6%) of women say they are willing to contribute to the cost of their engagement ring, according to DatingAdvice.comit’s recent Holiday Engagement Survey of 1,000 American adults in a relationship.
Nearly 19% said they would pay for the ring in full, about 23% said they would pay partially, and 29% said they would contribute if necessary.
Here’s why Natassia MillerA certified sex therapist who founded the sex and relationship coaching company Wonderlust, thinks women might change their minds.
There are more dual-income couples these days
There are more couples earning two salaries, with or without children, than ten years ago, according to Pew Research Center.
And although, on average, the gender wage gap persists, there are some metropolitan areas in the United States where women under 30 earn as much or more than their male counterparts. according to Pew.
“Today, with more dual-income couples and women delaying marriage while they build careers,” says Miller, “there is more openness to viewing the ring as a shared investment.”
Some “couples are more pragmatic”
This piece of jewelry is expensive: the average cost of an engagement ring is $5,200, according to The knot.
And headlines abound about Americans’ financial woes. For example, overall prices have increased by 25% since January 2020, according to Consumer Price Index data, and nearly half of Americans believe their financial situation has gotten worse this year, according to a recent survey by Intuit Credit Karma.
“In this context, it makes sense that couples would be more pragmatic,” says Miller. “Instead of one partner going into debt to reach an arbitrary budget, some women prefer to share the cost and keep the purchase aligned with reality.”
It’s a “public symbol” that says “someone who’s committed to me.”
Finally, even if they think about their financial realities, women are willing to pay because the ring is symbolic.
“Even financially independent women have often grown up on a steady diet of romantic comedies, social media proposals, and bridal marketing where the ring is presented as proof of value and attractiveness,” says Miller.
For many women, “an engagement ring remains a public symbol that says, ‘Someone is committed to me and is ready to show it to the world.'”
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