Tips to Save Money on Engagement Ring Shopping
Shopping for engagement rings is one of the most significant moments of your life. You have finally found the “one” with whom you want to spend the rest of your life. However, we all know that it can be an expensive affair.
What if we tell you that you can still buy a stunning handcrafted engagement ring without breaking your bank? Read the guide to find out more:
Set a Limit
If you don’t want to overspend on a TOP designer engagement ring purchase, setting a budget limit, and sticking to it is recommended. One of the thumb rules associated with engagement ring shopping is that you should spend about two months’ salary on it. However, it is not conclusive. Establish a budget after assessing your financial situation.
Don’t forget to convey your budget to the sales representative.
Do Your Homework
What’s the first thing to do when you decide to buy a car? You research about it. The same approach should be followed, when shopping for a handcrafted engagement ring. Educate yourself about:
4 Cs of diamond: carat, color, cut, and clarity.
Different types of engagement ring settings.
Types of metals.
Consider all these aspects while making a choice.
Find a Reputed Jewelry Store
Nowadays, you can shop for the TOP designer engagement ring in a conventional brick-and-mortar shop and online stores. We recommend buying from a trusted and reputed vendor, whether you shop offline or online. It ensures that you will find the exquisite range at a competitive price.
Before selecting a jewelry store, research them online, and read customer reviews. Remember, while shopping with a reputed store, you don’t need to compromise with quality and aesthetics to meet your budget.
Explore the Beauty of Lab-Grown Diamond
Lab-grown diamonds are the recent rage that has attained many admirers. They share similar optical, chemical, and physical properties with the mined diamond. As the name suggests, lab-grown diamonds are manufactured in a laboratory under condition that mimics the natural diamond formation condition.
A lab-grown diamond can be about 10% to 40% less expensive than its mined diamond equivalents. The good news is they are identical to their counterparts, and you can’t differentiate between them until you use specialized laboratory equipment.
Check Out the Financing Program
It is not feasible for everyone to save for months to buy the engagement ring of their partner’s dream. It is where the financing program comes to your rescue. You can opt for no-interest programs where you can decide to pay about 3% to 5% of the original purchase every month. You can also choose to combine the financing option with other payment methods.
Don’t forget to read the fine prints of the financing programs or credit deals before signing the paper.
Chose 14K or 18K Gold over Platinum
The primary distinction between white gold and platinum is the significant price difference. They look identical; however, platinum is more expansive. The price per gram is also similar; however, more platinum is required to craft a ring as it is a denser metal.
Another fundamental difference to know is between 14k and 18k gold. The primary constituents are gold but mixed with other metals such as copper, zinc, and nickel. 18K is 75% gold, and 14K is 58.3% gold. Both are incredibly stunning and durable metals; the difference lies in their price.
Opt for 14k gold or pick 18k gold over platinum to save money on your engagement ring purchase.
Give a Thought to Custom Engagement Ring
If you have searched for months and still can’t find your or your partner’s dream engagement ring within your budget, you can customize the ring. Customized rings allow you to add a personal touch and make it more unique. Moreover, they can be a more budget-friendly option than traditional engagement rings.
Pick a simple setting and add a flair with the personalized element. If you have a family heirloom, make minor adjustments, or switch to different gemstones to tailor it to your modern requirements. You can also customize an engagement ring from scrape. Research metals, gems, and designs to create beauty.
The Bottom Line
You don’t need to spend all your savings on engagement rings. Financial discipline and smart decisions will help you make the right choice.