I don't think it really matters too much as long as it's something you've really thought about. It's more important that it's a ring that she'll like, and want to wear for the rest of her life, than buying something for the right price that puts you in debt, that she can't stand. My engagement ring is silver (as is my wedding ring), because my hubby knows I like it. It might not cost as much as 22 carat gold, or whatever, but I love it to bits.