It’s a well-known fact that saving money is not an easy task. However, it can be done, even for something as important as engagement rings. First of all, you should set a budget in mind. After having that goal, then saving will be much easier.
Afterwards, it will take some financial principles and wise decisions. Rather than attempting to save the entire amount at once, you can save small amounts here and there. Then, upon receiving your paycheck, you can deposit small amounts to your savings regularly.
Also, it would be wise to make a budget-conscious decision that can let you save some dollars. You might get surprised by how these savings can quickly stack up.
Making plans and a few smart choices before buying an engagement ring can significantly benefit you in the long run. It is because you will be able to stay away from high-interest financing and credit cards.
Fortunately, you don’t have to save a lot of money when buying an engagement ring. Instead, follow some prudent rules and stick to the budget that you set up. In this way, you can give your loved one an attractive engagement ring that doesn’t cost the world.
How to Actually Save Money on an Engagement Ring?
Several ways can help you cut the cost without compromising the beauty or quality of the ring. All you need to do, in fact, is to shop smartly, so you can get your dream engagement ring without breaking the bank.
From choosing the colour of the diamond to the right setting, you can guarantee that you are allocating your budget wisely. Ultimately, this can get you the most bling for your money. Below are some expert tips that can help you in saving money when buying an engagement ring.
Do not choose a round-cut engagement ring:
Rounds are the most popular diamond shape; they cost about 25% more than the other shapes. Since round is the most in-demand shape, it is not surprising that they are also more expensive.
The significant price difference is also caused by the technique used in cutting round diamonds.
During the cutting process, a lot of rough diamond is lost. It is why diamond suppliers have to make up for this loss by increasing the cost per carat.
Do not choose popular shapes:
Like saving money by not choosing rounds, you can also reduce costs by not selecting the current popular shapes. For example, at the moment, ovals are one of the most in-demand shapes. It can be seen in celebrities such as Hailey Baldwin, Julianne Hough, Blake Lively, etc.
Since there is a higher demand, then the inventory has decreased, and the prices increased. Therefore, if you can choose fewer in-demand shapes, you can save up to ten per cent of this price.
Choose the G colo:
Most people prefer a colorless diamond; on the GIA colour scale, this represents D-F. At the same time, they also want to maximize their budget. It can be possible by choosing a G colour.
You can remain in the colorless range while keeping up with your budget. If you put a G colour diamond beside an F colour diamond, there is almost no visible difference. Most importantly, you can save eight per cent from its cost.
Avoid choosing three-stone rings:
It is a fact that three-stone engagement rings can create a classic statement. However, adding side stones such as half-moons or trapezoids could increase its price by about $2,000 to $5,000.
Alison Lurie is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.