Millennials are Saying “I don’t” to Diamond Rings

Millennials Aren’t Getting Married As Early

Most millennials are not interested in rushing down the altar. The median age for women to get married in 2017 is 27 and 29 for men, this is a huge change from 1960 when the median was 20 for women and 24 for men.

According to the Urban Institute, millennials are more likely to wait until they are 40 to get married. Most people nowadays are waiting for marriage for reasons like making sure they are secure in their career, not wanting to share college debt, or simply because they are not ready for commitment. Whatever the reason is, there is no law to say that you can’t marry someone later in age. Millennials want to wait.

Additionally, many people in this age group are choosing to go a different route (and often less expensive route) when it comes to engagement and wedding rings. Some are even opting for no rings at all. 

But…

One question that many people have about shying away from the typical diamond ring is… how will people know I am engaged/ married?

Well, the answer is simple: word of mouth! A phone call or text message is a great way to spread the happy news. You can even use social media to share the announcement. In fact, you can get the hint across with a few simple emojis.

Ring Preferences for Millennials

Millennials want something unique and not mass produced. What does that mean? It means that when it comes to engagement rings for millennials they want a ring that will reflect their personality, and they want their significant other to pick out a ring that is special to their relationship. The difference between unique wedding rings versus mass produced is easy. Unique diamond rings are similar to handwritten love letters whereas rings purchased at a franchise is similar to a Hallmark card. Receiving either is great but the handwritten note is more meaningful. Does the bride love the color pink? Then maybe proposing with a pink stone might be right down your alley.

Celebrities Go This Route Too

Actress, Mila Kunis, went online for her wedding bands. In a recent interview with Conan O’Brien, she revealed that she wanted a unique wedding band that wasn’t flashy. She searched and searched for something but all were too expensive so she turned to Etsy where she found a thin platinum wedding band for $90!

See, even celebrities are turning to the frugal route of wedding trends. 

They would much rather spend the money towards their wedding, honeymoon, house

According to The Knot, men spend about $5,978 on an engagement ring. Tradition states that the person proposing should follow the “Three months gross salary rule” which states that they should spend three months of salary on a ring. For example, if he or she makes $80,000 dollars, the ring should be $20,000. Despite these wedding ring trends, studies show that, 76% of women would rather spend money toward the down payment of a home or a car over a traditional diamond engagement ring.

Most couples also choose to simpler rings because of style or practicality. Saving money leaves you more funds to spend on a beautiful venue, vendors, and a wedding dress.