Average cost of an engagement ring

The average cost of an engagement ring was $5,392 last year, according to the results of this survey.

Does that number surprise you?

The survey, courtesy of TheKnot.com, is based on responses from nearly 19,000 recent U.S. brides. Consider these highlights:

*Most popular engagement month: December

*Average amount spent on a wedding dress: $1,099

*Average spent overall on a wedding (excluding honeymoon): $26,984

As someone who's never planned a wedding, my first instinct is to look at the numbers and say, "Wow, just think of all the other things you could have bought with that money."

I think it's possible to have a nice wedding for much less than $26,984.

Do you agree?

(via SavvySugar)