7 Savvy Ideas for choosing an Engagement Ring on a Budget

Buying an engagement ring may be one of the biggest single purchases of your life. It is no secret that the prices of engagement rings is rising with the times. The National Jeweler reports that the average engagement ring is continually moving closer to $6,000. If you are on a budget that does not quite allow that, here are seven ideas for choosing the best engagement ring in your price range.

1. Use a strategic setting.

If you are looking for a smaller, less expensive diamond, create the illusion of a larger diamond by picking a halo setting. This makes the center stone look larger than it is by surrounding it with many small diamonds, to add sparkle and length to the stone.

2. Use pavé diamonds.

Pavé diamonds help to fake the look of a larger diamond by adding a distinctive sparkle look to an engagement ring. Because pavé diamonds are small, common stones and are therefore less expensive than larger more rare stones. Having a small center stone with pavé diamonds around the band will ensure ample sparkle.

3. Use gold rather than platinum.

Platinum is very durable, which is great if you’re very active. The fact that it won’t fade and that it is more rare than gold makes it more expensive. However, white gold is a great alternative. White gold is still resistant to corrosion and tarnish and looks just as beautiful. compares the look of white gold to be closely related to platinum, while the cheapest metal to use is silver.

4. Buy a set.

Deals can be made when you purchase an engagement ring and wedding band at the same time. Sometimes deals are even offered for the man’s wedding band as well. Companies want you to be loyal to their brands, so they are willing to cut a deal if you buy the full package from them.

5. Buy emerald cut.

An emerald cut diamond is less shiny due to the fact it has fewer facets to make the diamond sparkle, but they look bigger than other diamonds due to their high surface area.

6. Buy shy.

Diamond prices jump very high between carat sizes, making the price difference very disproportionate to the size difference of two diamonds. If you are looking for 2 carats, opt for major savings by getting a 1.8 carat diamond. The difference in size will hardly be noticeable for anyone looking, but can save a lot of money.

7. Use a prong.

Prong settings use less metal which leads to a lower cost. A minimal prong setting over its alternative, a bezel, lets the stone be highlighted while using less metal.