Home Advice How to Save Money on an Engagement Ring

How to Save Money on an Engagement Ring

How to Save Money on an Engagement Ring
Photo by TranStudios Photography & Video from Pexels

Let’s face it. Shopping for an engagement ring is not the easiest thing to do. Let alone trying to save money on an engagement ring. First and foremost, all the technical factors seem to only add to the cost of a diamond ring. In most cases, the more perfect a ring is, the more expensive its official price is. Well, that’s sales for you! Here’s a breakdown of how you can truly save money on an engagement ring without worrying about compromising quality and style. 

Avoid Designer Brands

The first and most important piece of advice we can give you is to completely ignore the designer jewelry brands you often hear about. We’re talking about Tiffany’s, Cartier, and most jewelry designers you find at the mall or in movies and television shows. This is the best way to save money on an engagement ring. 

When you first consider shopping for an engagement ring, your first thought would have been a well-known designer brand as these are what we have heard most about in pop culture. The famous designer brands also sell the most expensive jewelry you’ll find on the market.

There’s a reason why these are household names, they are the best of the best, but it doesn’t mean you don’t have the option of shopping for something that’s easier on your savings. Buying a TIffany’s diamond ring is equivalent to buying a Tesla. There are perfectly good and affordable car manufacturers such as Toyota and Mitsubishi; you just need to know where to look. 

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Photo by Gary Barnes from Pexels

Shop Online

The big misconception about shopping for an engagement ring online is that it’s possibly unsafe, and it’s hard to get the ring you want. But in this day and age, this is far from the truth. There are great options for affordable jewelry online that are safe, where you can find great customer service. 

Tips for Shopping For Engagement Rings Online

  • Check the URL – Websites that begin with HTTPS (take note of the ‘s’) are safe to do online transactions through, including using your credit card. Websites with URLs that start with HTTP (without the ‘s’) are not guaranteed to be safe for shopping for engagement rings. 
  • Check Online Reviews – The best way to truly confirm that a shop online is safe and offers good customer service is by checking the reviews of other customers. In most cases, people provide reviews for both good and bad experiences. Read through Google Reviews and Facebook Reviews for honest customer feedback. 
  • Ask to See the Rings through Videos – Don’t rely entirely on photos when looking at products. It’s a good idea to ask the jewelers if they can send you a video of the ring moving around under a light. You’ll get a better look at how the ring looks through a video. A photo alone can be very deceiving.
  • Ask for Financing Options – If you’re working with a tight budget, you can always ask jewelry shops only for financing options that they offer. If a jewelry shop provides affordable engagement rings, they likely have financing options that help you pay for the ring in small installments. 
  • Confirm that there’s a Warranty and Return Policy – If you’re trying to save money on an engagement ring and choose to shop online, always confirm that there’s a warranty and return policy. This is for the long-term care of your diamond ring and a guarantee that if you are not happy with a product, you have the option to return it.
  • Shop within your Budget – There are thousands of diamond ring options to choose from online. To make the search easier and faster for you, choose to shop within your budget. 

For example, if you are looking for a ring that’s around $5000, shop for 2 Carat Engagement Rings. 

 Jewelry shops online have now adapted to the growing trend of the online consumer market, that to save money on an engagement ring has never been this easy. You can simply shop online as you would do with any other product, and you can your ring sent to your doorstep, with minimal effort on your part. 

Don’t Shop for Big Diamonds

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Photo by Ashford Marx from Pexels

Gone are the days when the diamond has to be large to make a big impact. With the trend of minimal jewelry still very much in style, the smaller the diamond, the better.

One way to save money on your engagement ring is to go for a 1 Carat diamond ring. Less is more, and in this case, it’s a win-win for you and your partner. You can shop for a 1 Carat diamond ring that is as low as $1,600. The key is doing enough research and window shopping to get the best possible price for a good diamond ring. 

Take Your Time Researching

If you want to save money on an engagement ring, the best thing you can do is to take your time shopping for one. A rushed purchase will only lead to an overpriced buy. You need to give yourself enough time to really see what’s available on the market. If you are buying a house, you will not simply settle for the first one you see. The same goes for your engagement ring. 

What to look for when shopping for an engagement ring:

  • Compare prices from different jewelry shops
  • Look for Discounts or Promos
  • Ask for financing options

These are just a few tips that you can use to make the most out of your research time. 

Shop for Simple Designs

The simplest engagement ring designs are often the most affordable. If the goal is to find diamond rings that are $3000 or below, shop for Solitaire Engagement Rings, and avoid ones with many diamonds. 

In this case, the simpler the ring design, the more likely it will be within your desired budget.

Consider all Diamond Certification

Diamond certifications are really important and should be on top of your requirements when shopping for diamond jewelry. This confirms the authenticity of a diamond. 

As you shop, you’ll find that most buyers look for GIA-certified diamonds. The problem with this is that this is not a cost-efficient approach. GIA-certified diamonds are the most expensive on the market compared to other certifications. But it does not mean that it is the only reliable certification. 

Diamond Certification to trust:

  • AGS – American Gem Society
  • HRD – Diamond High Council
  • EGL – European Gemological Laboratories
  • GSI – Gemological Science International
  • DGC – Diamond Gemological Certification
  • SGL – Solitaire Gem Labs
  • IGI – International Gemological Institute
  • GIA – Gemological Institute of America
  • GCAL – Gem Certification & Assurance Lab

Consider all other diamond certifications if you are shopping for a more affordable engagement ring. Just because a diamond isn’t certified by GIA doesn’t take away from its quality. 

Conclusion: Know What Options You Have

The time you take to really learn what options are available for your specific budget will help you find the right ring without any regrets. Compare your options. Ask to see videos. The more you know, the higher the chances are that you save money on an engagement ring.

Featured Photo by TranStudios Photography & Video from Pexels