Diamond spending - well, that is up to you. What to spend on a diamond is a tough and personal question. Two months' salary is a guideline.

Chances are if you are looking for a diamond then you have heard that you should pay two months' worth of salary. I would like to remind you that this won't work for everybody. There are lots of other things to consider when looking at the cost.

* Diamond vs Setting

The two months' salary rule applies to the whole engagement ring and not just the diamond. This means that you will have to find a balance between the price of the setting and the price of the diamond. Do you want a huge diamond and don't really care about the setting or do you want a custom platinum setting with accent diamonds and then whatever diamond you can afford.

Whatever number you decide on you will then want to get the most ring and diamond for that amount of money. Shopping online for a diamond engagement ring is a very smart choice. The rings and the diamonds will be much cheaper and of better quality. A good online store will have a return policy that guarantees the ring for 30 days or more.

Note: The price of the ring does not represent how much you love that person.

A couple of things to consider.

Expectations Your fiance maybe expecting a very nice ring that is out of your budget. In this case you have two choices: go in debt or explain to her that that would not be a good idea to spend that kind of money especially before your wedding. In the end the price of the ring will impact her life because your financial situations will merge after the wedding. If she wants the big ring she will marry the debt also.

Buying a good quality diamond is an investment that will not lose money. In fifty years this diamond will be worth more than you paid for it. Just ask your dad how much he paid for your mom's diamond.

Be practical. You must take a look at your lifestyle and your income to determine what you should spend. You will also need to look at whom you are going to give this diamond to. Does she like rock climbing and fixing fences or cruising on a yacht in the Mediterranean. When it comes down to it, most women would pick an engagement ring that is going to cost less than what you are going to spend.

WHY? Because women are practical (most). They will be impressed by whatever you get them because they know you put a lot of time and effort into selecting it.