Reese Witherspoon, Kellie Pickler, and singer LeAnn Rimes are all looking forward to ringing in 2011 with stunning engagement rings proudly worn on their left ring fingers. Judging by the sizes of the rocks sported by these ladies, money was no object. If celebrity engagement rings are an indicator of the economy, things are looking pretty good for the new year.

Reese Witherspoon’s four carat emerald cut diamond set in platinum reportedly set her fiance Jim Toth (a celebrity agent and Loyola Marymount graduate) back a cool $450,000.

Reese Witherspoon Emerald Diamond Engagement - Similar Style by Coast at Robbins Brothers

Interesting that while American celebrities didn’t have a problem spending tens and even hundreds of thousands of dollars on engagement rings in 2010, the future King of England, Prince William, chose a more frugal path. His bride-to-be Kate Middleton said “yes” to the famous sapphire and diamond engagement ring worn by William’s late mum, Princess Diana, saving the couple a cool half-million pounds.

Hmm. The prince and Kate also announced they will forgo a staff and personal assistants when they get married, preferring to do their own laundry, dishes and cooking.

A sign that England is in for a rougher financial road in 2011? Only time will tell. I’m banking on the the U.S. having a better 2011 thanks to the splurges by our own Hollywood royalty. Fingers are crossed that Wall Street pays close attention to TMZ in the new year.