Once you’re engaged, one of the primary decisions is choosing the right ring. Many women fantasize about a stunning two-carat, princess-cut diamond engagement ring set in platinum, and it often becomes a hot topic when their friends get engaged. However, unless you and your partner are exceptionally wealthy, it might not always be feasible to afford your dream wedding ring.
Remember, a ring signifies a substantial investment that often quite heavy on your wallet. While these are rings you’ll cherish throughout your life, it’s not necessary to empty your pockets or succumb to debt while choosing a perfect ring. You can still manage to secure a beautiful, high-quality ring while fitting within your budget. Here are eight valuable suggestions to save on your ring:
1. EXPLORE BEYOND POPULAR JEWELERS
Your first thoughts of jewelers might feature big names like Kay, Tiffany’s, Zales, etc. Shopping from these well-established brands isn’t wrong, but they may not be the best value for your money. While their reputation is tempting, their prices often skyrocket. You might end up paying double the amount than you would at a local jeweler. So, it might be worthwhile to consider checking out local shops or less famous brands. As long as your research is thorough, you’ll likely land a splendid wedding ring without breaking the bank.
Vintage shopping is another brilliant option. Not only will you save on labor costs, but you might also find an extraordinary, unique ring free from standard retail markups. If you’re uncertain, consider referring to diamond ring buying guides available online, they could provide useful insights and help you save a good amount.
2. CONSIDER CHOOSING A DIFFERENT DIAMOND COLOR
Diamonds are graded on a scale from D to Z, with D reflecting pure colorlessness and Z appearing slightly yellow. If you’re flexible about choosing a diamond graded below F, you can still secure a nearly colorless—or even entirely colorless to the naked eye—diamond saving a significant amount compared to a higher-graded diamond.
3. ACCEPT LESSER CLARITY
A quick way to cut costs is to settle on a diamond with lesser clarity. The imperfections or inclusions in the diamond can noticeably alter the ring’s price. Diamonds are commonly classified with clarity ranging between VS1-VS2 or SI1-SI2. The VS diamonds will generally cost more. However, you won’t notice any inclusions unless the diamond quality is quite low. So, opt for an SI-grade diamond over a VS one; you won’t spot any difference, and it will still look stunning.
4. ACCEPT SMALLER CARATS
Size can be an easy area to save money on. Why pay for a full carat when a slightly smaller diamond can save you a considerable amount? Instead, think about purchasing a diamond that’s .95 or .85 of a carat. These sizes are almost indistinguishable from a full carat, and only a very keen eye might notice the difference.
Remember, never compromise on the quality of the cut, as over time, you’ll notice a significant drop in sparkle.
5. OPT FOR A GEMSTONE OTHER THAN DIAMOND
There’s no written rule that your wedding ring has to be a diamond. There are numerous beautiful alternatives, which can be equally —if not more— enticing than a diamond. Be willing to consider alternatives such as aquamarines or sapphires, as they make for stunning rings. If you’re keen to maintain the look of a diamond, consider white topaz—it looks almost identical to a diamond and is noticeably cheaper.
6. CONSIDER MULTIPLE STONES
Contrary to what you might think, buying several smaller diamonds as opposed to a single large one could end up saving you money. Rings featuring halos or clusters might appear more elaborate and expensive, but they are usually cheaper. So if you’re budget-constrained, think about choosing a ring adorned with smaller diamonds. You might even find the overall effect more pleasing.
7. BE CREATIVE WITH THE BAND
Your ring band can play a significant role in cost-cutting. If you select or design a ring featuring detailed metalwork with intermittent cutouts, you’ll end up saving a notable sum. Not only will this help your budget, but such intricate designs can amplify the ring’s aesthetic appeal and might even enhance the primary stone’s appearance.
8. SPEND BASED ON YOUR BUDGET
Forget about the “three month’s salary” rule or trying to match the size of your friend’s ring. Decide on what’s right for your budget. After all, it’s not a competition—your future spouse will most likely love whatever you select. Engagement isn’t supposed to be a stressful event, and buying a ring shouldn’t bankrupt you. There are myriad ways to reduce the cost of your partner’s wedding ring while still purchasing something truly beautiful because at the end of the day, the celebration is about your love for each other!
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