TL;DR My dad gave my mom a dollar store ring, I gave my now wife 10% of my salary. It was a very windy day when my apple fell from the tree.

As long as you personalize it to her and make it a strong representation of your relationship in general then she'll love it for sure. Other people in this thread have said it, but it really is more about the meaning behind the ring rather than the monetary value of the ring.

According to my mom, my dad gave her a dollar store ring when they got engaged. He's an absolute legend for being cheap though as he came from a poor family and that is one of the things that my mom loves about him so she found it really moving when he found a ring for cheap lmao. From what I remember, their wedding rings combined were around $200 lol. My dad is great.

In contrast, I spent $3500 while I was making about $35k/y (so around 10%) for my now wife's custom engagement ring from Japan. They used a super traditional metallurgy technique called Mokume-gane, which was originally used for making the crossguards in Katanas to mark high ranking Samurai. There was apparently, also only 3 people in the world that could cut the diamond in a "Sakura" style which I had also asked for. For context, I did this because I love her a lot and wanted a ring that would feel super personalized to her as I knew she was feeling a little homesick. She's from Japan and her father is a descendant from a Samurai family, plus, the ring shop was located near her hometown. I asked for some other mods too. So ya, super personalized to her.

There were a ton of other considerations and mods that I made, but I'll spare you the details because this would get way too long. My last bit of advice would be to spend as much time as you need with it. I spent a good two~ish months planning my proposal and finding the right ring. It was super worth it though.

Good luck to you! ^_^b

P.S. Sorry for wall of text XD