How to Save Money on an Engagement Ring

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You’ve asked her to marry you, and she’s said yes, but now you have to figure out how to pay for it all. Luckily, there are plenty of ways to save money on an engagement ring so that you can enjoy your special day without having to worry about finances too much. Here are five ways you can save money on a Sydney engagement ring while still making the perfect proposal!

Shop Around For Diamond Deals

Diamonds are a girl’s best friend—but they also come with a hefty price tag. Before committing, consider shopping around for diamond deals. You might have heard of Black Friday or Cyber Monday sales, but did you know there are also sites offering discounts for couples who are about to get engaged? A Google search for engagement ring sales will give you some good starting points.

Not only will it help save money, but it could also make your proposal that much more special! Many brides say knowing their partner went out of his way (and saved a bundle) gives them such a rush that they end up loving their engagement ring even more.

Buy Online

The cheapest way to get a diamond engagement ring is through online retailers. For example, Blue Nile offers a variety of diamonds from reputable sources at up to 40% off retail prices. Sure, you won’t be able to see it in person before buying—but don’t let that stop you from buying a diamond ring.

After all, even if your fiancée-to-be sees another woman’s ring (the horror!), she probably won’t remember what kind of cut it had or what color her friend said it was when she blurted out about how much cheaper yours was… Honest! The Internet also has plenty of other options for shoppers who want traditional in-person shopping experiences and still save money.

Compare Diamonds in Person Before You Buy

A diamond’s cut, color, and clarity all affect its value, but so does its size. Before you buy your engagement ring, shop around for some loose diamonds that are of similar quality. Look at these stones in person, rather than online; it’s easier to tell from your own eyes whether a diamond is clear and white.

This can save you money; a small change in size can mean a large increase in price. For example, if you’re buying a 1-carat diamond and decide to go up just one carat—to 11⁄2 carats—you could easily pay double or triple your original price. To save money on an engagement ring, first, determine what size stone you can afford and then find something that fits your budget.

Consider Different Stones

While diamonds are hard and brilliant, they’re also one of the most common rocks on Earth. So, what can you do to save some money? Consider engagement rings with a different kind of stone. Sapphires, rubies, and other semiprecious gems are still just as beautiful and make for a more special keepsake than a diamond ring.

If you want something different or want your significant other to feel even more special than that, why not consider an unconventional material like ceramic or titanium? With options like these available at your local jeweler, you can always find a great alternative if diamonds aren’t your cup of tea.

Opt for More Affordable Settings

In general, opt for a lower-quality center stone surrounded by higher-quality side stones. For example, if you have $5,000 budgeted for your ring, consider buying a .55 carat diamond with a halo of smaller diamonds around it.

This way you’ll get more diamonds for your buck—which means more sparkle! And if you ever decide to upgrade your center stone down the road (hey, we all do eventually), then all you need is one main stone instead of a bunch of smaller ones. It’s less expensive and easier. So start dreaming about bigger diamonds without breaking your budget.

Set a Realistic Budget

One of your first steps towards saving money is deciding how much you’re going to spend. There are no hard and fast rules when it comes to engagement ring costs, but experts agree that your best bet is setting a budget before you begin shopping.

Depending on where you live, there can be a significant difference in cost between diamond cuts, and even within cuts, there can be variations in price from one jeweler to another.

Once you decide how much money you have available for an engagement ring, shop around for diamonds within that price range. If possible, get two or three quotes from different jewelers so that you know what prices are fair in your area and avoid getting ripped off by anyone who may be trying to sell you a diamond at above-market value.

Don’t Get Carried Away With Extras

The most expensive part of buying a diamond engagement ring is not, as you might expect, actually buying one. A diamond itself costs very little; it’s all about how many extra features you choose to add.

There are plenty of add-ons that come with your typical (and probably way overpriced) engagement ring—diamonds set in additional places (beyond just one), additional gemstones (like rubies or sapphires), special design elements, and so forth.

If you want an absolutely luxurious ring, you can spend thousands of dollars; however, these extras generally only make sense if you have both top-notch credit and disposable income—and even then, there are more affordable ways to get what you really want.

Comparison shop for Financing Options

When it comes to financing options, there’s a lot of confusion and misinformation out there. Credit card or debit card financing? Family loans? When you compare these two different financing options side by side, you can make your own decision about which one works best for you.

On average, engagement rings are quite expensive. That’s why it pays to do your research before hitting up your loved one with that classic question – would you marry me?

conclusion

Choosing how much to spend is a matter of personal preference, but it’s best not to make a hasty decision. Some people think that if they spend more money, they’ll be happier in their marriage (or other long-term relationship).

But recent research suggests otherwise: Having a bigger wedding doesn’t translate into having a happier marriage. Spend as much as you can afford (and feel comfortable with), and know that there are always ways you can save even more money without sacrificing quality.

 

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