I paid three hundred bucks. My wife had a family ring she wanted me to use, all it needed was to to be cleaned, repaired and have the stone reset.
She was *adamant* that I NOT spend even a month's salary on the ring. Nobody can tell that it barely cost anything, and if we had that much disposable income, we could use it for traveling, our wedding (weddings ain't cheap friends), our honeymoon, or our first apartment.
I'm lucky that I married a practical woman. I could have plunked down the 3,000 or so to buy a fancy ring, but we wouldn't have had as nice a wedding or as comfortable first few months of being married.
Back in 2009 I was seriously dating a different woman and was saving up for a ring (she was slightly less practical). When we broke up, I used the 1,500 I have saved to finance my move to Chicago. Everything worked out pretty well there I think!!
My wedding band, for what it's worth, was 50 bucks. 30 dollars to buy it from an antique store, and another 20 to get it polished and resized for me.