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Buying an Engagement Ring on a Budget? Here are 6 Tips to Save Money

March 16th, 2021

If you are looking to pop the question to your significant other, you will want to find a ring that perfectly embodies the passion you feel for them. This does not necessarily mean buying the most expensive ring since there are plenty of gorgeous engagement rings out there that will not break the bank. How can you find a cheaper engagement ring without sacrificing its quality? The key is to know exactly what to look for. Read on to find easy ways to save on your engagement ring.

Limit Micropavé

Diamonds with Micropavé settings incorporate small diamond studs around the outside of the band. While it may look incredible, the process behind creating this style is extensive, contributing to why rings with these settings tend to be more expensive. Of course, there are still cost-effective ways of getting engagement rings with these settings.

The trick to keeping the price down on rings with micropavé settings is to limit how extensive the design is. Simple designs that do not utilize a lot of the band tend to be more affordable, and the price increases the more complicated these designs become. In order to save money, stick to engagement rings with simple micropavé settings, or do not use them for your selection at all. There are other engagement ring styles that are just as elegant for a smaller price point.

Consider a Solitaire Engagement Ring

Looking for an engagement ring that won’t break the bank? A very popular style accomplishes this feat: Solitaire engagement rings! Solitaire rings, as implied by their name, are famous for utilizing a single diamond in each design. The resulting composition is breathtaking and would be a perfect fit for any significant other’s ring finger.

There is a reason why this engagement ring’s style is growing in popularity; since the ring’s band does not utilize any diamond, the majority of the cost is attributed to the center stone. The band itself is relatively inexpensive, allowing you to focus most of your budget on that center stone. This prioritization also makes manufacturing these engagement rings a lot less time consuming, which in turn makes them a lot less expensive on the market. It is the perfect setting choice for those buying on a budget.

Avoid Round-Cut Diamonds

Sometimes, being the popular choice is not exactly the best thing for your budget. This is especially true for round-cut diamonds, one of the most popular cuts of diamonds available for engagement rings. They can cost an excessive amount more than any other cut of diamond for two reasons:

  1. There is an increasingly high demand for round-cut diamonds on the market
  2. It takes a great deal of effort to manufacture round-cut diamonds compared to others

If you are looking for ways to save money, consider buying a diamond with a more unique or less popular cut. Diamonds with emerald and asscher cuts are two great examples of beautifully cut diamonds that do not have as high of a price tag. Consider these and other unique cuts to take some unnecessary finances out of the final cost of your engagement ring.

Ditch Platinum For Gold

Many popular engagement rings utilize platinum as their precious metal of choice for their designs. Of course, with platinum being as valuable as it is, this can dramatically escalate the price for your engagement ring. Are you looking for a precious metal with the same look and feel, but do not think there is anything else out there? There actually are other options, and the best one might not be what you think: gold.

Gold is not limited to its signature yellow color; it can also come in rose gold and white gold. Rings incorporating white gold are almost indistinguishable from those that use platinum, so selecting rings with white gold styling will alleviate some of the strain on your wallet.

Pay Attention to Carat Weight

Of course, carat weight is an important factor when considering your engagement ring choice regardless of your budget. But did you know that you can actually take advantage of market trends to get the best bang for your buck? Let’s see how it works:

The way diamond pricing works is largely based on carat weight reaching whole number milestones, and there is a significant price increase every time the diamond moves above a full carat mark. For example, a diamond with a 2.00-carat weight will be far more expensive than one with a 1.90-carat weight. This is why you should consider diamonds that are just a few decimal points below full carats. If your goal is to get a 4-carat diamond, try instead for a 3.9-carat diamond. There is almost no difference in quality between the two diamonds—except for the price point. You can use this trick to save a lot on engagement rings without compromising their quality.

Shop With A Local Retailer

There are a ton of ways to save money on engagement rings that you can evaluate, but one of them is easy as can be. This is perhaps the simplest way to save money on engagement rings - only buy with local retailers!

While large diamond retailers might sound appealing at first, you should recognize that they use their prestige and brand recognition to justify more expensive prices. Chances are, you will be able to find the same ring for a much more affordable price by shopping with a local retailer. Not only that, but local retailers offer a much more personalized shopping experience. You can approach their professionals with your budget, and they will give you advice on how to save money - and pick the right engagement ring!

The Best Local Retailer for Engagement Rings: Rogers Jewelry Company

When it comes to a personalized shopping experience, Rogers Jewelry Company is one of the best out there. When you walk into any of our superstores, you will be greeted by the finest of luxury amenities. Private viewing rooms, stores within a store, and even fireplaces are some of the amazing services that you can expect at Rogers Jewelry Company. Our expert staff will be able to assist you in finding engagement rings for your budget and style preferences. We give you all of the tools to find the perfect engagement ring for your special someone. To get started on finding your ideal ring, call 1-(800)-733-1874 or email us at contact@thinkrogers.com for more information.