Six Tips for Saving Money on Your Engagement Ring
So, you’re ready to tie the knot and you’ve started looking for the perfect engagement ring. Choosing the perfect engagement ring can be a completely nerve wracking experience, and everybody would like to buy an engagement ring that will make a statement. However, such an engagement ring can leave a huge dent in your wallet. Generally, an engagement ring can cost you close to $6,000 and I’m trying to speak of an average budget. In reality, an engagement ring can cost a lot more depending on your expectations and what you were looking for originally.
Now, before you start thinking twice about your engagement, there a number of ways that you can still impress her with a ring of her dreams and still keep the costs within your limits. There are a few tips that you can apply that will allow you to save several thousand dollars on an engagement ring. Here are some tips on exactly how to do that.
Be Creative
Creativity in men is sexy and can save you a couple hundred dollars when it comes to choosing an engagement ring. One of the options is to choose a ring that accentuates the stone in the middle by surrounding it by smaller ones. This is usually referred to as the halo setting. This does not only make your ring appear to have a larger carat diamond, it is also a unique design that is different from the common designs of engagement rings she has seen on her friend’s fingers.
Take advantage of these illusions and win her heart while keeping your wallet intact for the wedding. There is no point spending all your savings on your engagement ring and having nothing left to pay for your dinner after.
Buy Shy of Critical Weight
Diamonds are cut to specified weight and sizes. The weight and size of the diamond on the engagement ring you settle will eventually matter to your fiancée, no matter your intentions. If she is a connoisseur when it comes to stones, she will be able to tell the size of the diamond by looking at it.
Diamonds are cut in full and half carats. The price of your engagement ring will be pegged on these units and if a diamond misses the exact mark during the cutting process, it significantly loses some value.
This is good news for you if you have a limited budget. Did you know that diamonds with rounded numbers are usually more expensive? As a matter of fact, you can save about 20 percent of the cost for a 0.95 carat diamond engagement ring than if you were to buy the complete 1.00 carat diamond ring. But the difference is very small that it can easily pass for the real thing.
Therefore, when you go shopping for your engagement ring, look for one that is shy of the exact weight by a small margin. In fact, this is the most important tip to note since it makes a whole difference, though the product you end up with is almost like the real deal.
Buy Your Engagement Ring Online
There is an advantage to browsing for the best engagement ring on the internet; you have a large variety of designs and pricing to choose from. Furthermore, the online jewelry market is a very competitive one. Competition is good for you since vendors will usually give discounts and other incentives to attract customers. The pricing is also likely to be more competitive compared to your local jewelry stores and that translates to cheaper prices.
It is not uncommon to get up to 20 percent discounts when you shop online. There is also another reason why online stores can afford to be cheaper; they get rid of the middlemen along the supply chain. These reduced costs can lead to lower purchase prices for you.
Finally, shopping online allows you to buy outside your state or abroad where the price of the same engagement ring can be considerably cheaper. Ask economists and they will tell you that taxation affects the retail prices of commodities and engagement rings are not an exception.
You may find that taxation is more relaxed on jewelry in other states or countries than the one you’re currently living in. You could end up saving a couple hundred dollars after shipping your engagement ring in from outside the US.
Keep your options open and take your time to compare the various options available to you.
Purchase Your Engagement Ring in the Summer
“Really? Isn’t this the month when most weddings take place?” I can see the doubt. But if most weddings happen during the summer, common sense dictates that most engagements happen much earlier during the colder months. During the summer, the demand is for wedding rings. But no one is buying an engagement ring during these months. This is the perfect time to buy your engagement ring.
Even if you’re not necessarily going to propose immediately, you can buy it during the summer and keep it safe for the opportune time to pop the “will you marry me?” question. After all, an engagement ring is not a packet of milk that goes sour.
The fact that the demand for engagement rings during summer is diminished means you have the opportunity to bargain for the best prices since vendors and wholesalers are very flexible on prices. It is also likely that you’ll find a lot of discounts in place.
Avoid Branded Rings
If there is something you need to avoid, it’s going for a ring with a brand name. In the fashion and jewelry industry, you will have to cough up more money for a branded product.
An engagement ring that comes with a brand name is definitely prestigious but can push the price up a few hundred dollars. Your objective is to keep your budget as low as possible and therefore you absolutely need to steer clear of a branded engagement ring.
It is better to buy your diamond separately and take it to a jeweler to mount it on a ring of your choice. This can give the leverage of choosing how you want the final ring to appear. It can also be an opportunity to make appropriate engravings on the ring to warm your girl’s heart from the moment she lays her eyes on it.
Does it Have to Be Diamonds?
The average person loves the sparkle in diamonds, and it is often said that diamonds are a girl’s best friend, but at times it just isn’t feasible for you. You can decide to go for other alternative stones in the market.
Don’t be afraid to disappoint her with another stone. If your girlfriend is reasonable and in love with you, it will not really matter the price of the wedding ring that you buy her, she is likely to say yes. I’m not advocating taking things for granted; your objective is to make your engagement memorable and the kind of engagement ring you get your fiancée is important in this regard. What I’m simply saying is that it doesn’t have to be a diamond engagement ring per se.
However, don’t make the mistake of assuming, and only go for an alternate gem if you’re 100% that your fiancée will be ok with it. You might think so because of your relationship, but she might be disappointed if you don’t get her a diamond. And it’s not necessarily because of materialistic reasons, but because it is often expected. So, before you make that choice, make sure both of you are on the same page.
With that being said, there are plenty of alternative stones that can be just as beautiful as diamonds and significantly cheaper. For instance, precious gems such as imperial green jadeite is something that you can consider. It is a very rare gem that she probably hasn’t seen worn by anyone else. If she loves green, this can be perfect and she won’t resent the fact that you didn’t buy her a diamond ring.
You can also be creative with the metal you choose for the band as well. Rose gold wedding rings and engagement rings are quite common and very popular at the moment. They’re also more original than traditional gold and can really make a statement.
Think outside the box and come up with something great that will dazzle that special someone and still stay within your budget.
Conclusion
It is no doubt that your engagement should be a memorable time for you and your prospective wife. You definitely have to go out of your way to make it special. You can do this by giving her an engagement ring that really makes a statement. But you can also do this while still not spending more than you can afford.
Buying shy of the pre-cut carats diamond ring is a great way to save on diamonds. You can also take advantage of all the options online as well. Go for alternative stones and metals if need be and don’t be afraid to take advantage of seasonal discounts.
