Engagements & Money: Lessons from Taylor and Travis’s Engagement

Love, Rings, and Real-World Decisions

Taylor Swift and Travis Kelce’s engagement has the entire world watching. Most of the headlines are focusing on the ring and the romance. For a lot of couples, this phase of life comes with friends and family members getting engaged what feels like every week. If you're approaching this time of life, check out our engagement ring calculator below.

The true engagement cost

The average engagement ring in the United States hovers around $5,500. Taylor's is 7 to 10 carats with a $1 million price tag. We'll remind you that she's worth a cool Billion at least, and Travis makes around $17 million per year. So many (all) couples spend way less. Instead of asking “how much should we spend,” a better question is: “what can we comfortably afford while we stay on track for our goals?” That means things like:

• Saving for a down payment on a home
• Building up your emergency fund
• Paying off student loans or credit cards
• Planning for travel or new experiences together

Unless you're an elite athlete or recording mega-star, the engagement ring should be part of the larger plan, not a decision that derails it. You also have to factor in things that many men may not consider... like an engagement photo shoot, and engagement party, bachelor or bachelorette parties, the list can go on and on. Don't think that your ring purchase means you're almost done spending. Things can get pricey really quickly, so it's important to be thoughtful about the full process.

Financing versus saving

Some people put rings on credit cards or use financing plans. It's definitely tempting, but interest adds up fast and you'll end up paying much more than the sticker price. The smarter way to do things is to create a “ring fund.” Just put aside money over 6-12 months, and buy when you have enough for the entire cost of the ring. If financing is something that you feel like you have to do, look for 0% interest offers and always make sure you pay them off quickly.

Insurance and maintenance: The other hidden costs

The initial purchase is only part of the picture. Ring insurance typically costs 1 to 2 percent of the ring’s value every year. There are also maintenance items, like resizing or stone tightening and they can add up over time. Protecting your investment is smart, but every cost should be factored in before you buy.

Trends that can save you money

• Lab-grown diamonds can cost a lot less and they look identical to mined stones. It's really the same stuff... except no one had to die or slave away to get the lab-grown kind. Here's where you can find something like Taylor's ring that doesn't break the bank.
• Vintage or family heirloom rings carry deep meaning without a big purchase price. If your family has one, you're probably already lucky enough to have a little financial help, but we like to give you the information anyway.
• Minimalist designs can reflect style and practicality, proving that “timeless” does not have to equal “expensive.”

The bigger financial picture

The engagement ring is just one small step in what's hopfully a long journey together. Making thoughtful decisions at this stage can set the tone for your financial life as a couple. Money is the number one thing couples argue about, so talk to your partner about:

• Your shared savings goals
• How much debt you are comfortable taking on
• Where you want to prioritize experiences versus material purchases

Ring are symbolic. Financial stability is foundational. Choosing wisely now can help ensure that you are not just starting a marriage with love, but also with peace of mind.

More than just sparkle

Taylor and Travis can afford a million-dollar, show-stopping ring, and for them, it's easy. For most couples, the smarter move is to pick a ring that reflects your shared story while keeping your finances healthy. Engagement should be about building a future, not lighting it on fire. Take a look at you what you might be spending below.