Buying an Engagement Ring Without Breaking the Bank

Buying an Engagement Ring Without Breaking the Bank

Buying an Engagement Ring Without Breaking the Bank

When a couple first starts out the money can usually be tight. When women are looking for engagement rings they want a big statement diamond and a fabulous setting. Being able to get your girlfriend the ring of her dreams without breaking the bank may seem like a far stretched dream, but it is actually achievable.

The Metal

Don’t get a ring set in platinum. Platinum is one of the most sturdy, yet expensive metals on the market. Per pennyweight (DWT) platinum is currently selling for $42.55, silver is only going for 0.76 Cents. We would suggest going for gold, if she likes silver colored jewelry go with white gold. Gold is usually stamped with 10k,14k,18k, 24k. 24k is the purest metal and is usually too soft to use for a ring, 18k is usually the best, but can be pricey. We would recommend going with either 14k or 10k because this can save you a great deal of money.

The Diamond

When you are looking into buying a ring don’t forget about the diamond! Many people don’t know this, but diamonds range in price according to the shape. For example round diamonds are the most expensive because they are the highest in demand. A 1 Carat round diamond is approximately $4,700 depending on the color and clarity, but cushion cut for example is only $3,200 depending on the color and clarity. You can choose a bigger stone for your future fiance if you settle on a different shaped diamond. Also remember the 4 C’s (Color, Clarity, Cut, Carat Weight). Depending on these four characteristics your stone’s price can be reduced dramatically. Do your research!

The Jeweler

If your girlfriend wants a designer ring, but there are not enough funds for that, go to an estate jeweler. Pre-owned rings have a bad rep, but buying a ring used can save you at least 50% of what you would of bought the ring for at a retail value. You can buy your own diamond and have it placed in a designer setting. Some jewelers will even customize and design a ring for you and this will still be less expensive if you had a high end jeweler fix it for you! Make sure you know the estate jewelry store you are going to though, do your research if you don’t know any jewelers!

If you take these three things into account you will be surprised at how much you saved on an engagement ring. If you are smart and know what to look for AND DO YOUR RESEARCH! An inexpensive engagement ring will basically fall into your lap!

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