An engagement ring is a statement of commitment and love. It should reflect the potential bride and grooms personal style and it should be affordable. The standard rule of thumb is that the engagement ring shouldn’t cost more than 2 months’ worth of salary.
However, that rule of thumb was started by a company that sells rings. Most women will be pleased to have a ring period. So don’t stress over it. Since many are young when they marry, they don’t have a huge budget for a ring. Consider your personal budget and begin your search from that point forward.
Here are some great places to start your search for the perfect engagement ring on a budget.
Many leading jewelry store have seasonal sales. Consider Valentine’s Day, as well as the holiday’s and June (considered the wedding month). Many jewelry stores will have huge sales leading up to these dates and these sales will begin one to two months prior to the season.
You may be able to save a few hundred to a thousand on an engagement ring during this season, especially if you take advantage of sales and a layaway program.
Not all rings in pawn shops are there due to a divorce. Some are there because the couple upgraded their rings and others are there because the couple was in desperate need of money.
Regardless of the reason, Pawn Shops often have steep discounts on gorgeous rings. The disadvantage if that you won’t see what the ring is truly worth, but you can rest assured that they are steeply discounted from their original value. More than one young couple have found a steal of a deal in a Pawn Shop.
When someone dies the family often does an estate sale with their belongings. A lot of families will sell everything, including the jewelry in order to stop the bickering of who gets what.
Check out any estate sales in your area and see if there isn’t perhaps an engagement ring there. You’ll get an older ring that is likely one of a kind, and you’ll be able to stay within your budget. The only disadvantage is that you’ll have to pay this all at once and won’t be able to put it on layaway.
Many department stores have sales around holiday’s and seasons such as “wedding season”. Most department stores will allow you to put things on layaway and they will have some unique items.
Choose something that is unique and that there aren’t a lot of and you’re sure to please that special gal. You can save a lot by paying it all at once as well. Be sure to ask if you pay it all at once if you can get a cash discount. Sometimes this will get you a savings of a few hundred.
eBay has many great deals on engagement rings. The disadvantage is that you can’t have her try it on first, however, most of the sellers will have a very generous return policy. You can shop through the best sellers for diamonds and make sure that you’re getting a great deal.
Again, you’ll have to pay it all at once unless you’re able to put it on a credit card. However, this does allow you to pick and choose from a variety of options and choices.
Believe it or not, you can often shop online and save as much as 50 percent on an engagement ring. You can even take advantage of customization and choose the setting, the size of the diamond, and the color of the gold.
Add to this that you can choose the clarity of the diamond and you have a great chance to take advantage of some great deals and save a lot on that engagement ring.
Consider Alternatives To Diamonds
Not all engagement rings have a diamond in the center. Many women prefer an emerald, a ruby, amethyst, white sapphire (which looks very similar to a diamond), blue sapphire and other gemstones. Ask your gal or subtly find out if she may be one of these women. If so, you may save a small fortune by going this route.
There is no rule set in stone that states the center stone must be a diamond. You can always have diamond accents (which are far less costly) on either side of the gemstone and save money that way.
Choose Your Setting Carefully
If you can’t afford a large sized diamond, consider the setting. A halo setting, for example, has a certain style that makes the diamond look larger, yet it’s only an effect of the setting.
This lends the ring an old-fashioned look and enhances the appearance of the diamond without costing you a fortune for the engagement ring. Look at different styles and consider your options if you’re pressed for money.
Many diamond retailers have their own financing companies and you can get financing right in the store. If you have the right credit score this may be an option for you as well.
If you can afford the monthly payments this route may be a way to go just remember, stay within your budget and don’t get carried away. Retailers are going to push you to buy the bigger, more expensive option every time. Have a set amount in mind and don’t go over it no matter how hard they push. You’ll find yourself in serious debt if you do.
Reset Grandma’s Ring
Perhaps you have a family heirloom. Many couples use this option and reset the stone or get a different stone for a setting that they love. It’s a great way to carry on a family tradition and usually very affordable.
Whatever route you go, you’re sure to save money if you plan out your budget before you begin shopping. Keep in mind that if you’re making monthly payments you don’t want to put any stress on your budget so be mindful of tricks to part you with your hard-earned money.