17 Tricks to Save Money on an Engagement Ring
You’ve decided that it’s finally time to ask your partner to marry you, but here’s the problem - engagement rings don't come cheap. If you really want to impress when you get down on bended knee to pop the question, you’ll want to invest in a stunning engagement ring that’s going to blow her away.
So, how can you present your (hopefully!) wife-to-be with the engagement ring of her dreams without wiping out your savings account? Read on for some ideas.
So, how can you present your (hopefully!) wife-to-be with the engagement ring of her dreams without wiping out your savings account? Read on for some ideas.
Tip #1. Shop Online
Today, you can save money on almost anything by shopping online instead. Shopping on the web has become much more convenient and secure in recent years; thanks to payment services such as PayPal, you’ll be able to hand over a large amount of money for the perfect engagement ring without having to worry about your payment data being compromised.
Additionally, online jewelers often have fewer overheads than their high street competitors; this allows them to charge less for popular, in-demand pieces such as rose gold engagement ring sets.
Tip #2. Know Your Budget
Since an engagement ring is such a large and significant purchase, it's crucial to have a clear budget set out before you begin shopping. Since there are so many different types and styles of engagement ring available at various prices, narrowing your choices down to a certain price range will make it easier for you to make a perfect choice.
As a general rule of thumb, you should aim to spend about three months' salary on the most important piece of jewelry you'll probably ever buy. But, that's just a guide.
Tip #3. Do Your Research
If you're like most guys, buying rings and other jewelry pieces probably isn't something that you engage in regularly. So, it's important that you don't go in blind; this could lead to you being ripped off and buying a piece that's worth a lot less than you paid for it.
Taking the time to do your research on diamonds, band materials, and alternative stones beforehand will certainly pay off; you'll be able to spot a good ring much easier!
Tip #4. Give Yourself Time
Ideally, you should give yourself as much time as possible to choose the perfect engagement ring. If you're in a rush to propose or have a particular date and time in mind for popping the question, then you might want to consider buying the engagement ring after she says 'yes'.
A rushed purchase leaves far too much room for error; in addition, you could end up paying more than you need to if you leave buying an engagement ring to the last minute.
Tip #5. Get the Size Right
You might be considering just guessing your partner's size and having the ring resized later if needed, but this could end up costing you more.
Unless you can find a good jeweler who offers ring re-sizing free of charge to customers, paying to have the piece adjusted afterwards could put another dent in your budget. So, ask a trusted friend or family member to find out your partner's ring size for you.
Tip #6. Opt for Alternatives to Diamonds
Diamond engagement rings may be the top choice for many couples, however there are plenty of alternatives to choose from that could cut the cost.
For example, blue sapphire engagement rings are rapidly growing in popularity, whilst rubies and emeralds are other fashionable choices that you might want to consider.
Tip #7. Consider a Custom-Made Ring
You might think that a custom-made ring will certainly cost more. But, this isn't always the case. If you're asking for 24-carat gold with a massive rock, then you can probably expect to pay more. However, if you're looking for a smaller ring that has more sentimental value, this could be a perfect choice.
After all, who wants an engagement ring like everybody else's?
Tip #8. Explore Vintage Options
Another idea that you might want to consider is opting for a vintage ring. Vintage engagement rings are special since there is often a story behind them.
Perhaps you even have a vintage ring that's been handed down through your own family's generations. If so, why not consider presenting this to your partner when you ask her to be your wife?
Tip #9. Three Diamonds are Better Than One
Rather than opting for a ring that has one diamond, opting for a three-diamond design can help you to save money without compromising on appearance.
Since the diamonds will be smaller, choosing more, rather than less, can actually be a lot better value for money. Why buy one diamond when you can have more?
Tip #10. Think Long-Term
Although your main priority is saving money on the ring initially, it's also important to think in terms of the future. Engagement rings are worn daily, so they go through a lot more than you may realize.
Because of this, compromising on durability in order to save money on the initial purchase can lead to more spending in the long run. Instead, opting for a durable, longer-lasting material such as platinum is definitely worth the extra you'll pay.
Tip #11. Consider Pavé Diamonds
If you dream of presenting your significant other with the most beautiful diamond that they've ever seen, but your budget is giving you a resounding 'no!', then consider opting for pavé diamonds.
These tiny diamonds add a stunning 'crushed ice' look to a ring, providing the same amount of sparkle and glam as a larger rock, if not more. Since they're so small, you can find stunning pavé diamond engagement rings at awesome prices.
Tip #12. Get a Ring Set
It's not uncommon for couples to decide to shop for an engagement ring together. Not only does this mean that both of you can look out for bargains, it also ensures that you find a ring your partner adores.
Since you're shopping for a ring together, then you've probably already decided that getting married is on the cards. So, why not shop around for engagement and wedding ring sets; buying all three rings together can result in significant savings. Or, you could save money by opting for a 'his and hers' engagement ring set.
Tip #13. Time it Right
When making large purchases, there are certain times of the year where you can get the best prices, for example, during the Boxing Day sales, Black Friday and Cyber Monday, or other seasonal sales.
Holding off on purchasing a ring until the sales are on is a seriously good way to save money. Often, last season's designs aren't all that different when it comes to engagement rings, so you can get a bargain.
Tip #14. Opt for a Slightly Lower Carat
Successful engagement ring buying revolves around the '4 C's': Cut, carat, color and clarity. But, when it comes to choosing an affordable ring, buying just shy of the carat or half-carat mark could result in savings of up to 20%.
For example, rather than purchasing a 2-carat rock on an engagement ring, go for 1.7 or 1.8. As long as you've chosen a diamond that is cut well, the difference in sparkle will be barely noticeable.
Tip #15. Propose in the Summer
June, July and August are prime months for nuptials, so you may assume that this time of the year is the worst possible time to go out and buy an engagement ring.
But, the opposite is actually true - since all the happy couples are tying the knot during the warmer months, engagement ring sales drop, meaning there's more chance that jewelers will put their prices down or come up with special deals that you can take advantage of.
Tip #16. Avoid Brand Names
Usually, if you're looking for a high-quality product, it's a good idea to invest a little more into buying something from a well-known, high-quality brand. But, when it's an engagement ring on your shopping list, purchasing big brand names could be the worst mistake you make.
Non-branded rings are often just as good when it comes to quality and ticking all the boxes of the 4 C's. Additionally, you could even have a ring custom-made to resemble a branded piece for a much lower price. Don't get caught paying more for a name!
Tip #17. Stand Out from the Crowd
The more high-demand a ring design, the more you can expect it to cost. For example, since round bands are the most popular, they usually cost more than less traditional shapes.
Don't be afraid to stand out from the crowd when it comes to your choice of engagement ring, whether it's with a slightly different shape, cut, color or gemstone.
As a guy, an engagement ring is up there with the most important purchases you'll ever make. Armed with these money-saving tricks, you can make your partner (and your bank account!) very happy.
