The engagement ring is one of the most important symbols in a couple’s life. It marks the beginning of their commitment to each other and should be something that they both cherish forever. But with how expensive rings can be, it can seem impossible to find one without breaking the bank. Fortunately, there are some ways you can save money on an engagement ring without sacrificing quality.
By following these simple steps and researching ahead of time, you can easily purchase a stunning and lasting symbol of love without getting broke. So, whether you’re ready to pop the question or want to start planning early, here are some tips and tricks to remember when shopping for your perfect engagement ring.
1. Choose An Excellent Diamond Cut
It’s no secret that engagement rings can be expensive, but you don’t have to sacrifice quality when looking for a ring on a budget. One of the simplest ways to save money is by choosing an excellent cut-grade diamond. A well-cut diamond will appear brighter and clearer than a lower-cut grade. It’ll also cost less since better cuts demand higher prices due to their superior light performance.
When shopping around, ask your jeweler if they can order oval cut engagement rings with lab-grown diamonds. Moreover, inspect any diamond in person before buying it. That way, you can determine if its size and shape suit your needs and preferences.
2. Select Lab-Grown Diamonds
Lab-grown diamonds are a great way to save money on an engagement ring. They look and feel the same as earth-mined diamonds but cost significantly less. Here’s why:
- Lab-grown diamonds cost up to 40% less than mined diamonds of identical size and quality.
- Since these stones are made in a lab, there’s no risk of unethical mining practices or environmental damage associated with their production.
- The supply of popular lab grown diamonds is virtually unlimited, meaning more choices at lower prices.
The only downside to buying lab-grown diamond rings is that it might be harder to resell them later if you ever decide to upgrade your ring.
3. Pick Diamonds With A Lower Carat Size
A diamond that weighs less than one carat can still be just as beautiful and may cost significantly less. Buying a slightly smaller-sized diamond allows couples to purchase higher-quality stones with clarity grades of VS2 or above instead of settling for lower-grade stones to fit into their budget.
In addition, buying a diamond that is slightly under one carat can also help you save money on additional costs such as setting fees and other jewelry embellishments. If you want an inexpensive option, consider choosing a stone closer to three-quarters of a carat rather than one full carat, allowing you more flexibility when buying your ring settings and accent pieces.
4. Opt For A Halo Ring Setting
Using a halo ring setting is easy and helps you save money on your engagement ring. This ring style has a central diamond surrounded by smaller ones, creating the illusion of added size and sparkle. With this type of setting, you can reduce the carat weight of the center stone while still achieving the same look as if it were larger.
Plus, these settings are incredibly durable due to their structure. The small stones protect the main one from getting damaged since they’ll take any impact before the center stone does. If cared for properly, you won’t have to worry about replacing or repairing your engagement ring soon.
5. Use Different Types Of Metals
Many couples overlook this step, but it can make a huge difference in price. Various metals are available for engagement rings, including platinum, palladium, and gold. Each has benefits and drawbacks, so examine them more closely.
- Platinum: It’s one of the most popular choices for engagement rings as it’s a robust, durable metal with excellent scratch resistance. It also has an elegant white color that won’t fade over time and looks great paired with diamonds or other gemstones.
- Palladium: It’s quickly becoming another popular choice for wedding jewelry because of its affordability and luxurious appearance. Unlike gold, palladium doesn’t require plating or polishing to keep its luster and shine intact.
- Gold: It’s perhaps the most traditional material for engagement rings, thanks to its timeless beauty and durability. Depending on the carat, gold can range from 10k up to 24k. However, 14k is generally considered ideal due to its high level of quality while still being affordable enough for most budgets.
When deciding between different metals for your engagement ring, consider what matters most to you – affordability or longevity – before deciding.
6. Avoid Choosing Three-Stone Rings
When shopping for an engagement ring, it’s essential to consider the cost. One way to save money is by avoiding three-stone rings. These typically feature two side stones alongside a larger center stone and can add several thousand dollars to your total price tag. Remember that you’ll still get the same level of sparkle with just one diamond or another gemstone as the focal point on its own.
In addition, when you’re buying a single stone, you have more options in terms of size and quality, so you don’t need to settle for something too small or low-grade due to budget constraints.
Conclusion
The engagement ring symbolizes your love and commitment to each other, so you must find the perfect one. By being smart with your choice of metal, diamond size, and setting style, you’ll get a beautiful engagement ring that won’t blow your budget out of the water. This article has given you valuable insights into saving money on an engagement ring while still finding something special for the one you love.