The engagement ring, by tradition costs about a third of a man's annual salary. While this is not being followed strictly these days, the engagement ring is a definite sign of a man's commitment to marriage and a woman's prerogative to say yes.
There's a bit of history to the engagement ring. It's said that the first one was given to Mary of Burgandy by Archduke Maximillian of Austria in 1477. However, in the early 19th century, brides to be were actually given a sewing thimble rather than a piece of jewelry. Engagement rings didn't really come back into favor until the very end of the 19th century and the beginning of the 20th century.
While not every woman expects, or even desires, a two or three carat ring, she wants the man to chose wisely. Most don't want an unusual design or one that is less than conventional. If you think that your finance would like such a piece of jewelry, then you should definitely consult with her beforehand! There are many different settings available as well, from gold to silver to platinum, so keep that in mind as well. Not every woman looks good in gold, believe it or not. Consider what type of jewelry she normally wears.
The company from which you purchase your diamonds should be aware of its social responsibility. This means that they should not sell "blood diamonds." If you have ever watched the movie of the same namesake, you will know what blood diamonds are: diamonds sourced from countries that impose forced and child labor to gather such stones and sold in order to operate rebellions and revolutions.
While buying a brand new engagement ring may cost a fortune but for those that have the means to purchase one, it is more than just an investment. It is a hereditary piece to be kept and through the years, it will appreciate in value. Still, purchasing an engagement ring should not be done in order to put one into bankruptcy. There are other alternatives and being creative in finding them is the challenge. Perhaps using zirconium or even getting a smaller carat size or one that ranks a little lower on the 4 C's score. Another option would be purchasing second hand or vintage engagement rings. Whatever your choice may be, even if you don't adhere to the strict traditions, true love remains priceless and the woman you love will agree to marry you, with or without an engagement ring.