Most Helpful Girl
Hell no. You can buy the most expensive ring and still be shallow, but a true woman, someone who really cares would wear a twine thread and feel richer than a Queen2
Most Helpful Guy
Technically, the ring in and of itself is a scam.
If both of you still agree that you want the ring as part of the experience, the important thing is that it is something you both can agree on and are making decisions because you both want it (and can afford it), not because you're being forced to do so.
In case you (like me) enjoy this informative series, here is a newer, expanded video on on wedding traditions.
I hope this is useful to you and hope you enjoy.1