United Kingdom, April 11 -- Ryan Seacrest has questioned the importance of engagement rings.

The 51-year-old TV star - who is currently single - has voiced his doubts about engagement rings, suggesting that the money could be better spent on something else.

Speaking on the latest episode of On Air with Ryan Seacrest, the host - who previously dated the likes of Julianne Hough and Shayna Taylor - explained: "A lot of couples are saying, 'Hey, is the engagement ring really worth it?'

"I mean, think about what's the average cost? $10,000? Average cost of an engagement ring in the U.S., $10,000. Think about what you could do with your partner for $10,000. How important is the engagement ring?"

Ryan thinks it "makes a lot of sense" that so...