A lot of people stress too much over buying the right engagement ring for their loved one, especially about the cost. How expensive should an engagement ring be? Where to get the money for it? Would your fiancee be satisfied with the ring if the rock isn’t huge? Some people feel more nervous when they’re choosing a ring than when they’re actually proposing. So, we’ve decided to gather a few tips and pieces of advice that will help you make your mind easier and buy the best possible engagement ring with the least damage to your budget.
Plan your budget in advance
To understand how much you can afford to spend on an engagement ring, start thinking about it a few months in advance. This way, you’ll be able to determine what sum of money you can deposit each month and will have some time to gather the right amount of money. It’s great if you already have some savings, but usually, people start to consider the financial side of engagement when they’re ready to propose. So, maybe it’s worth waiting for another couple of months to impress your fiancee with a stunning ring.
Spend 1-3 salaries for a ring
Most experts agree that the cost of an engagement ring should be equivalent to at least 1 or – even better – 3 groom’s salaries. Of course, you’re free to go your way and spend as much as you believe right. But remember that too cheap engagement ring might offend your bride-to-be (she might think that she’s not important enough for you). And too expensive engagement ring isn’t really worth it – better spend more money on the wedding of your dream.
Material and design of a ring influence the cost
When considering the cost of an engagement ring for your beloved person, choose the right material, style, and design of the ring – all these issues influence the amount of money you’ll spend. Depending on how big your budget is, pick gold, platinum, silver, or another metal (or even non-traditional material); decide if you want a diamond, another stone, a number of stones, or design without any stones at all; decide on the style – often, engagement rings made in a trendy shape are more expensive, while you can find a beautiful classic ring and pay less for it.
Different types of diamonds – different cost
If you want an engagement ring with a diamond, learn at least the basic info about these stones and their value, because you’re able to save a lot if you know what you’re looking for. The cost of a diamond ring depends on the size, shape, clarity, cut of a stone, etc. Sometimes it’s better to buy a ring with a smaller diamond but more elaborate and high-quality setting than concentrate only on the size of a stone. Also, you don’t have to buy a ring with the clearest diamond – mid-level clarity diamonds look perfectly fine, and if your future fiancee isn’t a jeweler, she probably won’t even notice.
If you can’t afford a diamond ring or simply don’t think the price of diamonds is fare, you’re welcome to pick a fake diamond. Modern technologies of cultivating stones make it possible for other minerals to look almost as beautiful and shiny as diamonds. For example, buy an engagement ring with a moissanite stone.
Financing plan options
Our financial system today allows for people to pick different methods of payment, including loans, paying in installments, etc. Such payment programs can help you buy a more expensive engagement ring and gradually pay for it. A lot of jewelry stores and vendors can offer you different options of paying for the ring you choose.