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5 Ways to Save Money on an Engagement Ring

5 Ways to Save Money on an Engagement Ring

When it comes to engagement rings, traditionalists will always tell you that diamonds are the only choice for that all important proposal. Not necessarily true, but if you or, more importantly, your loved one have their heart set on diamonds, then it makes sense for you to go ahead and buy diamonds. However, as I’m sure you know, diamonds are not exactly the cheapest option when it comes to buying engagement rings; but that doesn’t mean that you have to sell a vital organ to buy one.

Can you really put a price on your relationship? Of course not, but you don’t want to splash out on the very best that money can buy and put yourself in debt at the beginning of your new life together. Have a look at these top five tips for saving on the perfect engagement ring.

1. Buy What You Can Afford

Don’t over stretch yourself. The age old cliché of spending one, two, or three month’s salary on a ring was a clever marketing ploy devised by the diamond industry years ago. Set yourself a figure and a time frame in which to save. If your romance is a little bit whirlwind then there are affordable finance plans out there, but expect to pay more.

2. Shop Around

Of course bricks and mortar shopping is the best option when looking for a ring, but don’t be afraid to browse the internet for that perfect ring. Any reputable online jeweler such as will offer a money back guarantee if you are not completely satisfied (as long as it’s not custom) so see what savings you can make with online stores. If you are really unsure then you could go to a diamond specialist that is well-established.

3. Second Hand

When it comes to jewelry, quality rings are designed to last so don’t think that you are being a cheapskate by looking at pre-owned rings. Even on eBay you can find engagement rings that sold for thousands new and are now selling for a fraction of the price. Second-hand is particularly good for those people who are looking for a vintage style.

4. Diamond Alternatives

Buying a diamond engagement ring has only been a tradition since the 1930s (again, another marketing ploy). So why not break from tradition and go for an alternative gemstone. Sapphires and emeralds are highly desirable and many people actually prefer them. If you’re really dead set on diamonds then there are equally sparkly stones out there that still have that wow factor.

5. Stop Worrying about Numbers

For some reason, a lot of people are hell bent on buying whole carat diamonds only. If you were to purchase a ring that was just under the round number then most of the time you will find that the cost is considerably lower. The truth is when most people ‘Ooh’ and ‘ahh’ at the number of carats in a ring they have no actual idea what they are cooing at, so don’t worry about it. There is very little difference between 1 and .95.

Saving money on an engagement can be done if you go about it the right way. Remember to not obsess over full carats, look at your options of gemstones and consider going for online retailers. Also, you should definitely consider buying a second hand ring if you’re looking for a more vintage style.

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