2k CAD for the white gold diamond engagement ring and the wedding band. I got it on a cyber Monday sale from a chain jeweler and the whole thing bit me in the ass in the end because the salespeople lied to me about the piece, but that's a long story. I usually shop family-owned, but my special lady fell in love with a Disney branded one. I like stones, so we will probably do moissanite for me. It seems like custom ring comissions start around 2k, so that is our target for mine.
It is nice to spend very little on it if jewelry doesn't matter much to you, but the nuance is that if you want something that will last decades or more, or a unique piece with personal meaning, you're going to have to spend some money. Diamonds are a massive scam, yes, but you still want to get something that will last, like diamonds or moissanite- on a budget, cubic zirconia should last awhile (any stone under a hardness of 8 should not be worn every day because it will not last). Fairly sure that 10k is the most durable gold and anything above that is essentially bragging rights - there should be other durable metals, but just make sure they can be safely cut in an emergency. Stuff like Sterling Silver will just get covered in scratches very quickly.
TLDR, I think 2k is a decently fair price for something that should last you decades at least.