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How much should you spend on an engagement ring really depends on your personal financial situation and what feels right for you and your partner. While traditional advice suggests spending two to three months' salary, this guideline is more of a historical suggestion rather than a rule to follow. It's more important to choose a ring that fits within your budget and aligns with your values. The best approach is to focus on what you can afford comfortably and what will make your partner happy, rather than adhering to specific benchmarks.