Do you think engagement rings have to be expensive?

Hey ladies, my boyfriend and I have recently discussed our future plans and talked about getting engaged so I started looking at some rings just to get an idea of what I’d like... I don’t want something too expensive, I’m not really a jewelry wearer and I don’t want you break the bank on a ring. Ideally it’s be something in the $300 or under range. But I was just wondering you’re thoughts on stones. I feel like you’re supposed to have a big stone but can I just have a band? Or maybe just a few tiny stones not a big one? I’m not a flashy type person and I just want something that I like, isn’t huge and annoying on my hand, and isn’t to expensive so if I ever lose it or something it won’t be like the world is ending.