7 Ways to Save Money on an Engagement Ring

A man holding a woman's hand with a diamond engagement ring on it.

It’s no secret that engagement rings can be pricey. They’re a big investment that you’re making towards the next step of your life, and it’s natural to wonder how you can cut down on the cost of this piece of jewelry—without sacrificing on quality or aesthetic. Luckily, there are a few different ways that you can save on an engagement ring in order to keep more money in your wallet while still giving your future spouse the ring of her dreams.

1. Take a Step Down in Color and Clarity

It’s really hard for the naked eye to notice small differences in color and clarity when it comes to diamonds. A diamond that is rated one notch down on each of these scales can be a lot cheaper than the next rating up, so this is something that can allow for significant savings. Your future spouse will never be able to spot the difference, so you really won’t be sacrificing much when it comes to this engagement ring savings hack.

2. Don’t Choose a Round Cut

A princess cut diamond engagement ring.

The first way to save is to not go for a round cut engagement ring. While they’re the most popular diamond shape, they tend to cost about 25 percent more than other shaped rings. This is because they’re so in-demand, driving up the price. Another factor that makes them pricier is the way that they’re cut. The way they’re shaped results in a lot of rough diamond being lost during this process. Suppliers make up for this cost by increasing the price per carat, meaning more cost is passed to the purchaser.

3. Don’t Buy in Even Carat Numbers

The jump from one carat weight to the next comes with a hefty price tag. For that reason, try not to go up a full carat mark and instead go slightly under it. Believe it or not, this can save you up to 25 percent and thousands of dollars! Even a .01 carat difference can alter the price a lot with this rule of thumb, so it’s definitely something to be mindful of.

4. Go for More Stones

An engagement ring with a halo of small diamonds.

This may seem like a strange tip, but going for a ring with multiple small stones instead of one with one large stone can result in huge savings. One way to do this is to purchase a ring that has a halo of small stones around a slightly larger stone in the middle. Surrounding the center stone with smaller stone provides a larger surface area and bigger appearance without driving the cost up too much.

5. Consider Different Metals

The type of metal used in the engagement ring also has an affect on price. Platinum and gold have a large difference in price, as platinum is the most expensive metal you can invest in. Consider this if you’re looking for ways to bring down the price. Even if you don’t want yellow gold, you could go for white gold instead of platinum to shave off some cost.

6. Choose a Different Stone Altogether

A blue gemstone ring.

Who says an engagement ring has to be a diamond? This didn’t even become common practice until after World War II, anyway! Back then, most proposals didn’t involve diamond engagement rings. Skip the diamond by going with a colored stone like a sapphire, ruby, and emerald. These stones are just as beautiful as diamonds and are more unique, which can make for a more interesting piece of jewelry for your future spouse. Plus, it can save you a lot, which is worth something, too!

7. Avoid Three-Stone Rings

Three-stone rings are both beautiful and popular, but they come at an expensive cost. Side stones come in unique shapes, like trapezoids or half moons. Stones in these shapes can really drive up the cost of a ring, so it’s best to avoid this design altogether to stay on budget.

It’s definitely possible to save some green when shopping for an engagement ring thanks to these tips and tricks!

The post 7 Ways to Save Money on an Engagement Ring appeared first on Weddingbee.