Zurp
I have misplaced my pants.
Damn, you're friends with some high rollers.
That old __% of your salary or one month's salary or whatever is bullshit. I'd say it depends completely on her and what you think she'll like. Plus, you don't want to set the bar too high for some bling in the future...
I dropped 2g on my sweetie's platinum/.75c diamond ring. She thought it was too much, but she's worth it. :)
I started with the 2-months' salary rule-of-thumb deal, and worked from there. I could have afforded more, but I also didn't see the reason to waste money on something she wouldn't like. Maybe I'm lucky, but my wife isn't and wasn't the type who wanted a big, fancy ring. I think she felt embarassed to be wearing a real diamond, at all. I ended up buying a small diamond (something like .3c - .35c), but I bought that fancy "Leo" diamond. Maybe a rip-off, but it looked a lot fancier than the "normal" diamond they had to show me in the store. I didn't spend 2-months' salary on it in the end.
If you have a girlfriend who is competitive with her friends or sisters, you might be in trouble. She'll want a bigger diamond than any of her friends have, and her happiness will only continue until another friend gets a bigger diamond than she gets. Then, her wedding will have to be at least as big (big = expensive) as any of her friends. Maybe that part is OK if her parents can afford it. But you may be stuck paying for that, too.
I'm not saying to run away. I'm just saying that you need to be ready to dish out some hard-earned beer and stripper money on stuff that isn't beer or strippers.
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