An engagement ring is one of the most important purchases you will ever make. Yet, it is also one of the most overwhelming. While the intention is to express love & commitment, it is easy to become distracted by flashy trends, pushy sales tactics & the simple fact that diamonds are expensive! 

This post highlights a crucial aspect every couple should consider before making this significant investment: budgeting for your ring. Alongside budget, we will discuss four factors in separate sections of the blog series "Considerations When Buying An Engagement Ring."

In this section, we will analyze the budgeting aspect to empower you with financial confidence when choosing a ring that perfectly complements your unique relationship for years to come.

Are you ready to take the stress out of engagement ring shopping & make an informed decision with clarity & passion? Read on for our take on approaching this consequential choice with wisdom, care & joy.

Set A Budget

When choosing an engagement ring, you should begin by considering your budget. Pre-determining a budget will assist you in finding the ideal engagement ring that falls within your desired price range.

1. Where To Start?

The commonly stated guideline suggests that the budget for an engagement ring should be approximately equivalent to three months' salary. However, it is worth noting that this rule originated as a marketing campaign in the late 1930s, commissioned by the world's largest diamond producer & executed by an advertising firm.

While engagement rings are symbolic & meant to last a lifetime, it is essential to recognize that every couple has unique preferences & circumstances. There should be no strict rules or guidelines regarding the budget for an engagement ring. 

What truly matters is that you feel comfortable with the amount you invest. It is common for individuals to exceed the three-month salary benchmark & still find affordable options.

2. Maximize Your Budget

After determining your budget, exploring the various engagement ring options available within your price range is essential. 

There are several strategies to maximize the value of your investment & find the perfect ring that suits your budget.

3. Go For Gold

Platinum is regarded as the most costly among precious metal options, known for its exquisite beauty & exceptional durability. White gold can be a viable alternative for a comparable aesthetic at a more affordable price. 

Additionally, yellow gold & rose gold present captivating choices that are visually appealing & cost-effective.

4. Make the Setting Sparkle

Opting for a meticulously crafted setting combined with a smaller center diamond provides ample brilliance at a lower cost. 

As diamond prices escalate with size, incorporating smaller accent diamonds like halos or side stones proves to be a more economical choice compared to a single large stone.

5. Consider A Fancy Shaped Diamond

Due to the prevalence of round diamonds in engagement ring purchases, fancy-shaped natural diamonds are priced at a 20%-30% discount compared to round natural diamonds. 

To maximize the size, consider opting for a non-round diamond such as an oval (the second most popular shape), princess, or cushion.

6. Select A Diamond Slightly Under The Carat Cutoffs

Opting for a diamond just below standard carat weight cutoffs, like purchasing a 0.9-carat diamond instead of a 1-carat one, presents a cost-saving opportunity without a discernible compromise in size.

7. Choose A Lab Created Diamond

Lab-grown diamonds have chemical, optical & physical properties identical to natural ones. 

Compared to natural diamonds of similar size & quality, they offer a more cost-effective option, enabling you to optimize your budget.

8. Consider A Diamond Simulant

Diamond simulants, like moissanite, are lab-created, durable & colorless gemstones that look comparable at a more affordable price point.

9. Opt For A Colored Gemstone

Sapphires are available in a wide range of colors, spanning the entire rainbow spectrum & are a unique & often more cost-effective option. 

Emeralds, rubies & other semiprecious gemstones are also exquisite choices to infuse your engagement ring with vibrant hues while maintaining affordability.

10. Think About A Vintage Style Ring

Choosing one of our exquisite vintage-inspired engagement rings is an excellent strategy to optimize your budget.

A vintage-style engagement ring combines enduring romance with practical value, ensuring a timeless & valuable choice.

11. Go For A Band With No Center Diamond

Another cost-effective option is to opt for a smaller center stone & instead choose an elegant wide band or ring stack. 

Selecting a band with shimmering accent diamonds or other intricate details creates a captivating ring.

Final Thoughts

Regardless of your budget, our objective at Solitaire Jewelers is to assist you in choosing an engagement ring that perfectly suits your preferences. Our representatives will collaborate with you to maximize the value of your budget & craft an engagement ring that you will absolutely cherish.

Solitaire Jewelers - Your Ultimate Destination For Exquisite Engagement Rings

At Solitaire Jewelers, we understand the significance of choosing an engagement ring that symbolizes your unique relationship. That is why we offer a vast selection of exquisite and affordable options to ensure you find the perfect ring within your budget.

Our experienced team is dedicated to providing exceptional service and guidance to help you make an informed decision with clarity and passion. We believe in transparency and educating our customers about the 4Cs of diamonds, ensuring you understand the value and quality of your investment.

Visit us at Solitaire Jewelers to explore our stunning collection of engagement rings and find the perfect one that represents your eternal love. Let us assist you in creating a beautiful memory that will last a lifetime. 

So, make an appointment today and begin your journey towards finding the perfect engagement ring at Solitaire Jewelers. 

Happy shopping!