More men taking loans for the perfect ring.

It seems that these days we need a bit of help handling the true cost of the perfect marriage proposal.

According to new research, nearly 70 per cent of men are taking out loans to cover the cost of their partner’s dream engagement ring.

In the past, a man would spend on average a month’s salary on a ring.

However, due to lack of overtime, spare money, and the recent rise in unemployment, it appears that men can only afford to spend half this amount, meaning more are turning to personal loans.

For some women, the style and quality of the ring is the make-or-break decision of the proposal, as findings of the survey on behalf of www.365-diamond.com showed that 28 per cent of women would turn their partner down if they did not like the ring.

Fortunately, this is not the end of the world for some men, with more than 30 per cent admitting they would keep the ring after being turned down to propose to a future partner.

Charles Haynes, 23, an MA student living off of Sincil Bank, Lincoln, proposed to his girlfriend Elizabeth Clayton, 24, on holiday just before their six-year anniversary.

"Every year Elizabeth and I go down to St Ives with her family," he said.

"We have a lot of good memories there, so I knew it would be the perfect place to ask her to marry me.

"I’d asked for her ring size ages ago so that when it came to asking it would be a complete surprise.

"I wanted to be traditional and spend half a month’s wage on the ring but I’m out of work at the minute studying my MA. So instead, I calculated how much I should have been earning and spent that much.

"I went for something classically elegant, just like Elizabeth.

"It was worth every penny to see the look on her face when I asked her."

Alex Biblie, 19, a web developer living in Lincoln’s West End is one of the 70 per cent of men who would be willing to take out a loan.

"When I end up popping that big question I want everything to be perfect," he said.

"I hope I don’t have to take out a loan but I don’t think expense should be an issue. You only have one shot to get it right.

"All those years of happiness and companionship with the one you love is something you can’t really put a price on."

Chris Rowles, owner of 365-diamond.com, said he was "surprised" by the fact so many men were turning to loans.