The average budget for an engagement ring in 2011 dropped 5 percent year on year to $5,130, according to the latest ”Real Weddings Survey” produced by XO Group for TheKnot.com and the WeddingChannel.com. While the average in real dollars was less, the amount bought even less, for the U.S. consumer price index for jewelry in 2011 rose 9.5 percent. Nonetheless, the survey, which captured detailed budget plans of 18,000 couples who were active with the sponsoring websites, revealed that the average wedding budget (excluding the honeymoon) was flat year to year at $27,021.
The survey revealed that one in five U.S couples spent more than $30,000 and 11 percent spent more than $40,000 on their weddings in 2011. These figures hinted at a positive trend moving forward.
”For the first time since 2008, wedding budgets are on the rise,” said Carley Roney, co-founder of TheKnot. “Our research shows that couples and their families are less concerned with the economy and are increasingly comfortable investing more in the once-in-a-lifetime occasion of their wedding.”
Other details from the survey found that the most popular month to become engaged was December while the most popular month for a wedding was September, and summer remained the most favored season to marry. The average age of U.S. brides was 29 and 30 for the grooms. The average length of an engagement was 14 months.