How to Buy an Engagement Ring on a Budget

It can be really stressful going shopping for an engagement ring for the woman you hope to one day call your wife – especially when you’re shopping on a budget. Most men see an engagement ring as a symbol of just how much you love your bride-to-be, but it’s not something you should go into debt over. Here are a few tips to help you shop for an engagement ring if you have a tight budget.

How to Buy an Engagement Ring on a Budget

  • Know your budget: You’ve probably heard that you need to spend about two month’s salary on an engagement ring, but this just isn’t true. Spend what you are comfortable with – don’t make you and your future wife financially unstable before you even tie the knot.
  • A ring is not an investment: The value of a diamond engagement ring may appreciate over time, but are you really ever planning on trying to sell it? An investment is something you purchase today that you expect to sell one day and make a profit. An engagement ring is a symbol of love, not an investment.
  • Do your research: Get familiar with the 4 C’s of diamonds (carat, color, clarity, and cut) so you have a good amount of knowledge before you walk into the store. This will help you from being fooled by any sneaky jewelry salespeople. Consider making a sacrifice too – opting for a .90-karat diamond over a one-karat diamond could potentially save you hundreds of dollars. Even a downgrade in color will end up in huge savings. A compromise most likely won’t even be noticeable to admirers. Do your best not to skimp on cut, though. A poor cut will really affect the sparkle of the diamond.
  • Always comparison shop: It’s hard to find two diamonds that are equal but it’s not impossible. Visit more than one jeweler to get the diamond you are looking for at the best price possible.
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