Choosing an engagement ring should be simple in theory. Pick out a ring, buy it, and propose to the love of your life (who will, ideally, say yes).
Men who want to propose might wonder, “Is she going to like this ring for the next 50 years?” or “Should I go into debt to get a more expensive ring as long as I can pay it off?”
Of course, before you head out ring shopping, it is also important to sit with your loved one and talk about finances if you have not done so already. Not about the ring, but in general. Do you and your significant other have similar goals when it comes to finances? Do you have personality clashes? Do you know what her expectations are when it comes to big purchases?
With that out of the way, do you even know anything about diamond rings? Scratch that – do you even want a diamond ring in the first place? There are plenty of alternatives to mined diamonds that can make excellent stone engagement rings. For example, lab-made diamonds are becoming more popular. While these have the same beauty and durability as any diamonds, they cost about 30% less than mined diamonds of similar quality.
While diamonds are “traditional” engagement ring stones, colored gems are often durable enough for daily wear and absolutely beautiful in their own right. Sapphire, ruby, and emerald are the most popular, but gems like morganite and aquamarine also make great ring stones.
Having said all of that, let’s also be honest with ourselves – the love of your life will likely want a diamond engagement ring, and you want her to be happy, so let’s not pretend like you have that much of a choice in the matter.
So, let’s get back to the budget part. Among the many engagement ring shopping tips, you may have heard the advice that you should spend two or three months of your salary on an engagement ring. You might have also read engagement ring price guides that provide very high estimates for how much a “good” engagement ring should cost.
We believe you shouldn’t follow certain “rules,” as most rules regarding engagement rings and prices are gimmicks created by diamond marketers and sellers. Instead, you should determine your budget by looking at your financial situation along with any specific desires of your fiance-to-bé.
Getting married and starting your life together can be a costly process. By purchasing an engagement ring you can afford, rather than following old, outdated “rules,” you’ll reduce your financial stress and anxiety. The focus will instead be on your partner and the excitement of marrying the love of your life.
Done with the budget? Great. Now take your partner’s individual style into account.
Look at their other jewelry. Are the pieces mostly made of white gold or yellow gold? Does he or she prefer vintage pieces or modern designs?
You can also peek through her clothing and accessories to gain insight. What she wears will give you clues about the type of ring she would want. For example, if she gravitates toward floral vintage dresses, consider styles like this ornate halo engagement ring. If her style is sharp and sleek, try a platinum beveled ring.
Talking with your fiancé-to-be’s family and friends is often helpful, too. Lean on the people closest to your fiancé-to-be: a best friend, sister, cousin, whoever. Maybe your significant other has already shared their desires or preferences. You can even ask a friend to look through ring styles with you.
Feel overwhelmed yet? As you should. But, it is important to note that there are many beautiful and high-quality engagement rings that you can love for years to come that won’t cost you a fortune or drive you into too much debt.
After all, financial strains can be difficult on any marriage, particularly a new one — so why set yourself up for stress when you can buy an affordable engagement ring that your other half is sure to love? Besides everything that we’ve outlined above, follow these tips and you’ll be able to make your partner the happiest person in the whole wide world!
Feel overwhelmed yet? As you should. But, it is important to note that there are many beautiful and high-quality engagement rings that you can love for years to come that won’t cost you a fortune or drive you into too much debt.
After all, financial strains can be difficult on any marriage, particularly a new one — so why set yourself up for stress when you can buy an affordable engagement ring that your other half is sure to love? Besides everything that we’ve outlined above, follow these tips and you’ll be able to make your partner the happiest person in the whole wide world!
Focus on the Cut
Don’t let the jeweler confuse you with all that talk about cut, color, clarity, and carat. If you’re trying to buy the best ring your budget will allow, make your first priority the cut of the diamond. That’s where most of the ring’s sparkle comes from. Diamonds with a “very good” cut rating offer the best value for bargain seekers. They reflect almost as much light as an “ideal cut,” but cost significantly less.
Don’t Worry About Things You Can’t See
Jewelers love to pop diamonds under the microscope to show you their flaws. But how important are those flaws, if you can’t see them with the naked eye? Save yourself a bundle of money, and buy a diamond that’s “eye-clean.” That’s the industry term for a diamond that looks flawless to the eye. On the clarity grading scale, that’s a diamond with a VS1 grade or higher.
Buy an Odd Size
People tend to shop for half-carat rings or full-carat rings. They don’t usually walk into a jewelry store and ask for a .95-carat ring or a .47-carat ring, and that’s something you can work to your advantage. Buy a diamond that’s a speck smaller than the norm, and you can expect to save at least 15 to 20 percent. That’s a pretty big saving for such a tiny difference in size. Ask a jeweler to show you a one-carat ring and a .95-carat ring, and you won’t even be able to tell the difference between the two.
Decide on the Shape
When designing a ring, one of the first steps is to choose the shape of your diamond. The main consideration for shape is personal preference. From beautiful heart-shaped rings to oval styles, there are shapes for every personality.
Some prefer a classic look like this round brilliant solitaire ring or a cushion cut with a pave band. Others prefer something more unique like a pear-shaped ring.
Back to the size question, opt for a shape that appears larger, like the stone in an Emerald Cut diamond ring. The Emerald Cut and Marquise Cut, for instance, showcase size better than other diamonds with the same carat weight.
The shape you choose will also help dictate your setting style. Most importantly, you want to ensure your diamond is secure in the setting, and won’t be prone to chipping, like when the tip of a heart-shaped diamond isn’t protected by a prong.
Choose a Halo Setting
Fake the look of a big diamond by choosing a halo setting. That’s a setting where a bunch of smaller accent stones surrounds the center stone. It can make the center diamond look as much as half a carat bigger. Use this trick to make a half-carat diamond look like a one-carat diamond, and you could save $2,400 or more.
Choose a Simple Prong Setting
Don’t get so wrapped up in the cost of the diamond, that you overlook the cost of the setting. All of that platinum or gold adds up, too. To keep the metal weight down, opt for a simple prong setting. It’s a timeless look that happens to be an affordable look.
Shop Online
Online jewelers have less overhead so they can afford to charge less. Spend some time visiting local jewelry stores to hone in on what you’re looking for. Then, take your search online. Reputable companies, like Blue Nile and James Allen, offer a pressure-free sales environment and a money-back guarantee. For the biggest savings, steer clear of any website attached to a big brick-and-mortar brand. Their online prices probably won’t be any better than their in-store prices.
Shop at the Right Time
Want the very best deal on an engagement ring? Then, you may want to avoid proposing at Christmas and Valentine’s Day. Since these are popular times to pop the question, the selection is likely to be picked over, making it less likely that you’ll find a bargain. Steer clear of that November through February shopping time frame, if you’re serious about finding a deal. The summer months are your best bet. Since it’s typically a slow sales time, you’ll find the prices are much more negotiable.
Insure the Ring
So you’ve decided on the perfect engagement ring—now get that baby insured! To say it would be a bummer to have the ring lost or stolen would be a gross understatement, so make sure you’re covered. The easiest way to do this is to call your insurance agent about adding the ring to your homeowner’s or renter’s insurance as a floater. This will likely increase the cost of your plan a smidge, but the peace of mind will be more than worth it. (And if you don’t have homeowners or renters insurance, get on that pronto!) If you and your betrothed don’t live together, make sure you add the ring to the ring-wearer’s policy.
