How to Make a Good Deal on an Engagement Ring

Save some money on an engagement ring and spend it on your wedding.

Couples on tight budgets or bargain seekers would love a good deal on an engagement ring. Saving a few hundred dollars on the ring might mean more money to spend on the wedding, the honeymoon -- or on setting up a home together. Making a great deal does not require sweet talking or shopping rushes. Take time to consider all offers, and maybe rein in your expectations on quality; it could make a huge difference in the deal you strike.

Instructions

1. 

   Don't sink yourself into debt while you still have the chance to make an affordable deal on an engagement ring.

   Set your budget. The best way to avoid going into debt from an engagement ring is to figure out an estimated amount you can spend. Be realistic here.

2. 

   Staying at one store will severly narrow the good deals you could make on an engagement ring.

   Shop around in different stores. Some will offer higher-priced jewelry with great sales, and others will have lower-priced jewelry. If you find a ring you like at a store, write down its specifications so you can compare prices with other rings.

3. Shop online to catch a great deal. Many reputable online dealers are offering engagement rings with discount prices. Avoid any online retailer that seems suspicious. Stay with mainstream websites.

4. 

   Go for a slightly smaller carat to save a few hundred dollars.

   Sacrifice the carat of the diamond. If you want an engagement ring with a one-carat diamond, consider an .85 carat instead. It will be unnoticeably smaller, but will cost hundreds less.

5. 

   Jewelry retailers going out of business will be getting rid of their inventory, so they will slash prices.

   Search for jewelry retailers going out of business. They will have greatly reduced prices. Keep in mind that the rush and pressure to buy an engagement ring is very high at going out of business sales. There will be many potential customers looking for engagement rings.

References

• Money Crashers: How to Strike a Deal on an Engagement Ring This Holiday Season

Resources

• Ginko Financial: How to Finance an Engagement Ring