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Originally Posted by Slingin Sammy 33
More than $ 3K balla. The rule of thumb is 2 months salary. If you go with a 1 karat, with high clarity and high color rating you'll be fine. The clarity and color ratings give the ring the "sparkle". Cut and minimizing inclusions are important, but from what my wife tells me, women talk about the size of the ring and then look at the sparkle. (Size does matter)
Do NOT buy from one of the chain jewelers or someone in a mall. Find an independent jewlery store that has been well established in your area. Do some research online and negotiate the hell out of them, you should get a good deal. PM me if you want more detail. Good luck!
Also check into a local metal fabrication contractor for the "ball & chain". 
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More than 3K for an engagement ring? Isn't the 2 month salary rule for a wedding ring? And is that before or after taxes?