Expensive Engagement Ring ?

Sarah
Happy New Years All! My boyfriend let slip that he plans to propose to me as we went to a jewellery shop and he asked me what's my ideal ring. Anyhoo, right now he doesn't have a job and has a limited budget. I chose a beautiful ring that cost only $700.  He however, has now decide I deserve more and he would like to get me a ring that cost $3000, I guess he thinks my mother and sister would laugh at my $700 ring. I personally think we aren't financially stable and I would like a 2 year engagement just to save up to have the wedding I would like and a home we would like.
I also informed him that maybe once we are financial stable then we could consider updating my ring.  I really could care less tbh! 
I just want to know your opinions! Would you be content with a cheaper ring! 
Honest opinions please this is a no judgement zone! 

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