The Plunge Blog

You have this crazy idea. And that idea is this: since we're in a recession, since nearly every business in the world is slashing unnecessary expenses, since you spend less on food, entertainment, and vacations than you used to, since your very job is less stable...then maybe, just maaaaybe, it makes sense to cut back on non-essential, vanity-fueled luxury items.

We have some news for you. The idea is just that: crazy.

According to a recent study by our good friends at--yep, you guessed it--The Knot, the economy hasn't really touched the spending-orgy of bridal jewelry. Specifically, 80% of 9,000 married couples said they're not cutting back. It's almost like they're in Congress.

Other findings from The Knot's survey, courtesy of Jewelers' Circular Keystone:

...The average spend on an engagement ring is $5,800, with over 20% of couples spending more than they had originally planned. Although 16% of couples determined the engagement ring budget together, the groom ultimately made the decision (82%).
...
-Couples not going for matching wedding bands. Couples are spending over $2,000 for both of their bands, and the bride is getting top billing - as they spend almost twice as much on hers than his. Only 15% of couples purchased matching wedding bands. It's no surprise that the over 60% of brides chose bands with bling (only 15% of grooms have bands with diamonds), while grooms chose rings with a ‘comfort' fit.

Full insights from JCK here.

And stop by here for our full coverage on buying the engagement ring (including how much you should spend) and here for what you should know about buying wedding bands.

Now go back to work, so you can make enough money to pay for $X,000 worth of stuff that you don't really need.