The answer is, there's not just one answer.
When it comes to engagement rings, whatever your budget, you should strive to buy the best diamond you can afford. Forego thoughts of a certain number of paychecks and focus on educating yourself on the 4Cs, specifically cut, colour, clarity, and carat.
Perhaps the real question should be: what’s your budget?
We get that a ring’s price is often at the forefront of decision making. Focus on getting the best diamond, for the best possible price, squarely within your comfort zone.