How to Save Money While Buying A Quality Engagement Ring

If you have made the big decision to propose, then you have a lot of work to make this occasion special. Once you make this monumental decision, there is no going back, and you have to pull all stops to make this a truly memorable day. Buying an elegant engagement ring is one of the most crucial tasks you have to complete. Now, shopping for a diamond engagement ring is a daunting task, and these pieces do not come cheap.

There are multiple styles and shapes of rings. These include the all-popular princess cut diamond engagement rings and it takes a lot of research to choose the right ring. The average cost of a diamond engagement ring is about $6,351 but you can use some tricks that would help you save some money. Getting a deal on an engagement ring does not mean your love your spouse any less; it just shows that you are wise and in fact, the bride-to-be will love you more for it.

This article provides you with tips that will help you save on the cost of an engagement ring and leave you with some more money to spend on the wedding. Let us see how you can do that.

1. Set a Realistic Maximum Budget

Before hitting the stores, you need to decide on a maximum budget. If you walk into any jewelry store, the dazzling lights and glamorous displays will carry you away and you might end up spending all your life’s savings on a single engagement ring. Look at your finances before visiting a store and set a ceiling on the amount you can spend without interfering with your lifestyle. To do this, go online and look at the average prices of the ring you feel your partner deserves. Go back and look at your finances to determine how much you can spend comfortably. Stick to your budget and avoid following any rules hyped by jewelry stores.

2. Learn about the 4Cs of Diamonds

If you want to buy diamond jewelry, the first rule always is to learn about the 4Cs of diamond quality namely Cut, Color, Clarity, and Carat. These features determine the overall beauty and cost of the diamond you want to have on your engagement ring. By learning about the 4Cs, you can strike a balance on the size, quality, and cost while buying a magnificent diamond. Each diamond has its price. Their price is based on these features and you can save money by tweaking the qualities as follows:

  • Cut: This is the most important aspect of a diamond’s quality and it affects the sparkle and brilliance of a stone. To save money, focus more on the cut of a diamond and go for a “good”, “very good”, or “excellent” cut.
  • Color: The color scale goes from D to Z, with D being a colorless diamond, which is rare and very costly. To save money, choose a diamond between G or H, as only an experienced can tell the difference between these stones and D color diamonds.
  • Clarity: This refers to inclusions in a diamond with FL being flawless and I3 showing eye-visible inclusions. The SI1 or SI2 are ideal for someone on a budget, as you cannot notice the inclusions with the naked eye. Choosing a diamond with a grade between SI1 and SI2 can save you a lot of money.
  • Carat weight: Dipping below a round number such as 1 Carat diamond to 0.95 Carat diamond saves you quite a sum without affecting the size and look of the diamond.

With this insight, you can now shop for a diamond ring confidently, and you can easily find a brilliant but affordable diamond for your engagement ring.

3. Focus on the Setting Of The Ring

To save money on a diamond engagement ring, you have to become creative with the setting. There are multiple ring settings from which to choose. However, the halo setting works magic by giving the illusion of a large diamond and adding a touch of vintage glamour at no cost. You can thus save money by buying a small diamond and choosing the halo setting to make it look big.

4. Go Online And Compare Prices

The internet offers invaluable tools when you want to save money on diamond jewelry. You can filter your search for semi mount engagement rings that are available at various jewelry stores and find the best quote. Take your time to compare rings from as many stores as possible and consider other options other than popular chain stores. Instead, look for independent jewelers and diamond wholesalers who might give you a better deal. Ask the jewelry store to break down the cost of your ring to understand the costing matrix they use, and leverage this knowledge as you continue shopping.

5. Opt for White Gold Instead of Platinum

While much of the focus is on the diamond, you also need to consider the metal of the ring. Most jewelers use platinum but it is an expensive option. You can get the same effect by choosing white gold, which is cheaper and readily available. The qualities of white gold are incredible; it is durable and resistant to rust, tarnishes as well as corrosion.

6. Buy Engagement and Wedding Ring Together

More couples now opt to buy an engagement and wedding ring as a set to save money. Your jeweler will give you a discount if you buy a set. However, when you choose to follow this trend you lose the element of surprise, something every bride-to-be loves.

There are other ideas you can use to save money on your diamond engagement ring. These include shopping out of the gift-giving holidays and customizing a piece from your family heirloom. In all these cases, always stick to your budget. More importantly, make sure you do your research on your partner’s taste and style to avoid spending too much on a piece they may not like. Make sure you buy a ring from a reputable jeweler and look at their return policy in case there is a problem with the ring.

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