How to Buy a Cheap Engagement Ring

The average cost of an engagement ring may be thousands of dollars, but knowing how to buy a cheap engagement ring can save couples a lot of money without sacrificing quality, beauty or style for this symbol of their relationship. There are many stunning discount engagement rings available if couples know how to shop for them.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Internet access
• Budget
• Local jewelers
• Pawn shops
• Estate sales

1. Use online resources to learn about judging diamond quality through the four C’s: clarity, cut, color and carat. Understanding how diamonds are graded will help you choose a stone that is beautiful but that fits within your budget.

2. Establish an engagement ring budget by examining current and future finances, including the costs of planning for a wedding, setting up a home together, debt management, family planning and more. Include emergency money and other necessities, and do not believe the myth that a respectable engagement ring must cost the equivalent of two months’ salary.

3. Use the Internet to examine different engagement ring designs and learn about current prices for popular styles. Take note of prices for similar rings on different websites and which styles are less expensive.

4. Visit local jewelers and compare their prices to those researched online. Ask what changes may be made to create a cheap engagement ring, such as removing side accent stones or opting for a less expensive metal. Be clear about your budget to avoid being pressured to consider more expensive engagement rings. Also visit pawn shops, estate sales and other jewelry retailers to look for bargains.

5. Choose the engagement ring style that best fits the bride-to-be’s preferences and your mutual budget.

6. Pay for the ring with cash or a no-interest payment plan to avoid increasing the cost with excessive fees and additional charges.

Tips & Warnings

• Diamond quality is crucial to a ring’s beauty and its price. When you are learning about the quality characteristics of diamonds, be aware that lowering the stone’s clarity or color ratings by one or two steps is not usually visible to the naked eye but can make a significant impact on the price. Even a slightly smaller carat weight diamond can have a much cheaper price without being too noticeable.
• Choose artificial diamonds such as cubic zirconia if a real gem is too expensive. Another option is to use diamonds only as accents to a gemstone ring, such as birthstone engagement ring or other pretty semi precious gem that will be a much cheaper but still beautiful engagement ring.
• Remember that the thoughtfulness behind the engagement ring is more important than its cost. Even a cheap engagement ring represents the love and commitment a couple shares, and the ring-not the price-should be chosen to reflect that.
• Avoid too good to be true offers on very elaborate rings or large diamonds. These may be fake stones or plain glass or crystal rather than real gems. If an offer is appealing, insist on an independent appraisal to determine the ring’s quality and value.