Howdy! Thank you for dropping by DiamondsNorth.com. My name is Inunnguaq and I used to work as a diamond purchaser. This aim of creating this website is to provide tips and advice to consumers who are shopping for diamond engagement rings.
Let’s get started with one of the most common topic on a shopper’s mind…
How to Buy an Engagement Ring on a Budget
Really, who isn’t on a budget when they first get married, anyway? These ideas will help you to save, buy wisely, and not stress about money during this important time in your life.
First things first here, you need to make a savings plan. Yes, we all wish that money would just magically appear out of thin air and make our lives easier, but this has yet to happen. (To me, anyway.) So, a more fool proof option is to get organized.
Think about when you want to propose. Do you have some time? Say, several months? I would recommend planning something a few months out, at least, so you have space to accumulate the money necessary. But if it has to be on a certain day that is close at hand, don’t panic. You’ll just need to work a little harder.
Next, think about what type of ring you want. Read: how much do you need to save? I would recommend saving somewhere between $1,000 and $2,000 for this purchase. Why? Because the stone itself will cost money, then you need to set it, and also set up a maintenance and insurance plan with your jeweler for peace of mind.
However, if you can only save, perhaps, 800 or less, it will still work out. Now, pull these things together and do the math! Divide how much you want to save by the number of paychecks you have until you need to make the purchase. This equals the amount that you must set aside each time you receive money.
If you don’t like your end number and want to up it a little, consider taking on a side job to help out. Get a paper route, walk dogs or mow lawns. This will put you that much closer to your goals. One thing that I would not recommend is taking out a loan or doing a payment plan. Why? Because you are getting married, and you will have enough to think about financially without paying off yet another thing. Do what you can afford, and be proud of it. Your fiancé should be, too.
Alright, so that’s the savings part down. Now, how do you get the biggest bang for your buck at the end of all your hard work? First, whatever else you do, try to get an excellently cut stone that will allow a lot of light to filter through. Every girl likes sparkle, so even if the diamond isn’t huge, it will still be beautiful. Also, ensure proper maintenance of the ring is included in your end deal. This way the jeweler can degrease the stone and keep it shining constantly.
Here’s an idea that will help the pocketbook: it doesn’t have to be a diamond! Consider a birthstone or another gem that your lady is a fan of. Maybe she even wants an earthier look, with simple entwining bands, which is gaining popularity. This will likely fetch a lower price than a diamond, while still looking great, and adding a touch of individualism to the ring.
Also, as I mentioned earlier, insurance for a purchase this significant does matter! It may cost a little extra, but that small bit will bring security to you and your fiancé when you don’t have to be concerned about something happening to an irreplaceable piece of jewelry.
Last, stick to your plan and you have no worries! If you aren’t able to save all you need to from one paycheck, up it on the next one to make up for it. Do your best to stay on track, and it will all work out beautifully.
Enjoy the journey toward being engaged! It is a process, not a quick trip. Be patient, make the right selection, and have fun. You are about to get married, after all! Make memories during this time that you will look back on with fondness. Above all, know that the ring is a symbol of your commitment. That will always be the most important factor in the equation. Your fiancé will be thrilled with how well you planned everything out!
More Tips For You to Take Note Of
#1 – When an diamond engagement ring is bought, very little consideration is given to the wedding bands that offer a matching design with the engagement ring. For the guy, it may not be such a critical issue. However, for a wedding band to fit with her diamond engagement ring, it can present a problem.
#2 – The idea of using a presentation mounting enables you to propose with a temporary setting that looks great. Once she accepts, the bride can could come back at a later date to pick out that special mounting she really wants.
Most stores I know would give a full credit on the presentation mounting (which usually costs a couple of hundred dollars) and the refund can be used towards the new mounting she just picked out…. And best of all, the guy comes out looking like a diamond buying genius!
#3 – The average cost for an engagement ring is about $6000 and the average size of the center stone is about 1 carat. These are just general guidelines and not rules that you must follow. My advice is to buy something you can afford and not get into debt just because you want to meet social expectations.
DiamondsNorth.com Can Help
Buying an engagement ring is an exciting process and we hope this introductory guide has been helpful. We understand it’s a big purchase and know you want to get it right the first time. If you have any questions or require any assistance, feel free to contact us.