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On a Budget? Here are 6 Tips to Save Money on Your Engagement Ring

March 1st, 2021

Couple Marriage

Finding the perfect engagement ring to pop the question with doesn't mean finding the most expensive one. In fact, you can still find engagement rings that prevent you from breaking the bank without compromising the quality of the ring. The trick to finding an engagement ring like this is to know exactly what to look for when figuring out ways to save money. How can you accomplish this effectively? Here are 6 tips to help you through the process.

#1: Buy Just Below the Carat Weight

When you look at an engagement ring's carat weight, you might think the rule of thumb is that the higher it is, the higher the price of the ring. While this is true in a lot of circumstances, you can actually save money if you know what weights to look for. It might seem like a small difference, but buying a ring with a carat weight just below a whole number can save a load of cash.

The big price increases normally happen after each whole number for the carat weight. If your target carat weight is 1.00, shoot for one with a .90-.99 weight. This can help you save hundreds without noticeably compromising the ring's size.

#2: Branch Out from Popular Diamond Cuts

Unique Diamond Cuts
Round cut diamonds are by far the most popular cut that people look for when shopping for an engagement ring. However, their overwhelming popularity makes the cut significantly more expensive when compared with any other diamond cut. One of the easiest ways that you can save money is to completely eliminate round cut diamonds from your selection.

While they may be the most popular, it doesn't mean that round cuts are the most beautiful. There are plenty of unique diamond cuts that make diamonds dazzle in all sorts of ways. For example, emerald and radiant cut diamonds have distinct appearances giving the diamond an innate elegance. Remember—gorgeous diamonds come in all shapes and sizes!

#3: The Metal Matters

Do you know white gold and platinum look almost indistinguishable from each other when compared side by side? Despite looking almost identical, they are nowhere near the same price. While platinum has a certain luxury, white gold can save you money on a similarly bright white engagement ring. It's not a surprise white gold is the most popular metal used for engagement rings. Choosing 14k instead of 18k gold can also bring down the price of a setting.

#4: Pay Close Attention to the Color

While it might seem like a diamond's graded characteristics can significantly affect its quality, this is not always the case. In fact, the further you move up the ladder on those characteristics, the less of a noticeable change there is between ranks. If you can take advantage of this fact, you can potentially save a lot of money with little change in the quality of the stone.

Colorless diamonds tend to have a grade between a D-F on the GIA's color scale. These will tend to be the most expensive picks, so a way to curb this is to only select from diamonds with a G or H grading. The color difference between F and G is practically unnoticeable, and G-I graded diamonds carry a much lighter cost. For the same great level of color quality at a smaller price, G and H graded diamonds are the way to go.

#5: Clarity Has More Than Meets the Eye

Diamond Clarity
It may seem like clarity is not a diamond trait you can cut corners with, but the truth is that this is not the case at all. In fact, a lot of the clarity grades look for imperfections that are practically imperceptible to the human eye. Often, customers don't consider that all grading is done under 10x magnification and will have little to no impact on the visible appearance of the diamond until you get much farther down the grading scale.

For this reason, you can be a little less strict when it comes to searching for clarity. While Very, Very Slightly Included (VVS1 and VVS2) make up the majority of top-tier diamonds, Very Slightly Included (VS1 and VS2) still need a microscope to notice imperfections. Diamonds with higher grades are far more likely to break the bank, so you should definitely consider those with VS1 and VS2 grades.

#6: Shop Locally

The quickest way to save cash on an engagement ring is to stay away from big-name retailers. These retailers are often far more expensive than local jewelers, with engagement rings that you can buy for far better prices elsewhere. When you shop locally, you will get the same gorgeous engagement rings for an amount that outmatches the competition.

Local jewelers can also help you budget your rings. If you go to them with a fixed budget, they can recommend ways for you to save cash in-store. You should also keep your eyes peeled for sales and be prepared to take advantage once they hit the market. In the end, local jewelers can give you a more personalized experience because they care just as much as you do about finding the perfect ring for your significant other. When you find that jeweler, that is when you find your perfect ring.

Your Trusted Local Jeweler: Albert's Diamond Jewelers

Albert's Diamond Jewelers boasts an unrivaled passion for bringing customers the best engagement rings that Indiana has to offer at affordable prices. We pride ourselves on offering luxurious customer service to anyone who steps through our doors, completely personalizing the shopping experience from the first interaction to the final sale.

Our expert staff will help you find what you are looking for within any budget while giving you expert recommendations on what to look for. When you shop with us, you will be a part of Albert's family for life, with cleaning and repair services that last long after your initial purchase. To make the perfect selection to propose to your partner, make an appointment to visit our showroom in Schererville, Indiana today or call (219)-322-2700.