5 Ways to Save on an Engagement Ring

We have all heard the unstated rule that proclaims 2-3 months salary is the right amount to spend on an engagement ring.  While that may seem steep to many, luckily, there are some techniques to getting around the social faux pas.  So if your wife-to-be is stressing you to spend all that on a ring, follow the tips below.

Do Your Homework

Doing your research before you even consider purchasing is absolutely necessary.  There are dozens of respectable jewelry education resources online that will help you brush up on your jewelry education.  Visit this website for more info.

Beginning with the four C’s is a great start, as this will help you significantly in the buying process.  For example, a color H diamond is a lot cheaper than an F color diamond while not looking all that different.  That alone could wind up saving you a bundle.  Anytime you jump classes in diamond weight, prices also go up significantly.  For example, a .99 carat diamond will cost much less than a 1.0 carat diamond.

Same holds true for clarity.  Minor flaws could significantly lower the price of the diamond while not being visible to the naked eye.  Some inclusions may even be able be hidden by the prongs in the setting.  Knowing what you can get away with is key.  Jewelers know where they can up-sell you and being an informed customer will help you save in the long run.  Do a search for loose diamonds online.  Diamonds by themselves are often simpler to evaluate than diamonds already mounted.  Most websites will even let you compare rings side by side.  Not to mention, buying diamonds online allows you to shop without the pressure of a sales person.

If you bring your girlfriend, don’t forget that doing research will also make you look more confident and less cheap.  Decide from the start your budget before you start shopping.  This will help you avoid spending more than you can afford.  Remember to keep in mind your loved one’s taste while sticking to your budget.

Stop the wedding!!!! by Avital Pinnick, on Flickr. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

Save Money with an Heirloom

The easiest way to be frugal is to not spend at all.  If there is a family heirloom lying around you might want to think twice before spending money on something new.  Giving your fiancée an heirloom is a great way to save money, especially if she is the sentimental type because it will be that much more special.  Since heirlooms run in the family, this could also be a special piece of jewelry that she could pass down to her kids.

Save Money by Paying Cash

Paying in cash can also save you a substantial amount of money.  Since most jewelry firms need to pay commission on charged purchases, see if there’s a way to get a discount by using cash.  It is strongly recommended you do not go into debt.  You don’t need to also spend money on interest.

After all is said and done, the ring should be a lasting symbol of love, and that’s it.