Are you planning to propose to your other half? How exciting! You’re probably panicking over how much to spend on an engagement ring, am I right?
This can be super overwhelming and stressful, as you’ll get a lot of conflicting information online and from your friends and family.
Plus all the pressure of those fancy, blingy celeb and royal rings all over the press.
There’s also that rule of thumb that’s been knocking around for years that you should spend at least three months wage on one.
However, I know in this day and age a lot of you would end up financially crippled if they were to do this!
Fear not! I’ve found some top[ tips on determining the right budget and making some savings when buying an engagement ring.
What do you need to think about when deciding on a budget for an engagement ring?
In simple terms – only spend what you can afford!
To me, it’s not about what the ring cost, it is about what it represents.
That being said, if you are going to take out a loan, make sure you can afford it comfortably first.
You can calculate this by heading to https://personalloan.co/.
After all the excitement, your partner probably isn’t going to be thrilled if you have spent money you don’t have on finding the perfect ring, especially if it cuts into your budget for the actual wedding.
How can you save some money when shopping for engagement rings?
Here are some things to look out for that can help you cut down the cost of an engagement ring, while still finding an absolute gem! (Couldn’t help myself!)
There are many different diamond shapes to choose from. However, if you opt for an emerald cut diamond ring you can save some money.
Emerald diamonds give the illusion that they are a lot bigger than they are, and so you can opt for a smaller diamond and save some cash and still have your fiance show off their bling.
A prong setting requires the least amount of metal. Consequently, it costs less than other options, such as a bezel setting. Simple as that!
Coloured diamonds are increasing in popularity at the moment.
All of the celebrities seem to be sporting coloured diamond engagement rings.
Why not opt for a coloured gemstone instead?
No one will be able to tell it’s not a diamond and there is no denying that they look stunning too.
Last but not least, your choice of metal can save you a lot of money.
A lot of people like platinum. However, this is one of the most expensive options to go for.
White gold can look just as beautiful and save you a lot of money.
Any other ways to save to money on an engagement ring?
If you’re not up for buying a shiny, brand new engagement ring, there are ways to cut the cost down even more.
Where can I buy budget antique engagement rings?
Secondhand is no longer snuffed at when it comes to engagement rings, and I know a lot of people would absolutely prefer their other half to spend a bit more time picking out something special that is also antique.
Before you panic and think the word ‘antique’ comes with a hefty price tag, you can pick up stunning rings from local auction houses, charity shops in your area, or even on selling sites like eBay or Gumtree, all for very reasonable prices!
Family heirloom engagement rings
The last option is my favourite and will save you the complete cost of buying a ring, but it can be as nerve-wracking as proposing itself!
Asking for a family heirloom to propose is very sensitive, but it will mean so much to your other half if your ring has a story and they’ll probably feel touched you’re asking them to carry on this tradition of passing down a ring.
As I said, it can be quite a delicate topic so make sure you prepare how to ask for it and give yourself time to consider other options if you don’t manage to receive a family engagement ring.
So there are my top ways to save money on engagement rings, I hope you find them useful and good luck proposing!
Do you have any tips of your own? Let me know in the comments 🙂