Hello World! Welcome Friends! Do you want to buy her a beautiful engagement ring without breaking the bank? We have good news. Making a few smart choices can help you save money on a ring that she’ll love for years to come.
Here are five easy hacks to save money on an engagement ring.
1. Choose One of These Diamond Shapes
You might not realize it, but the diamond shape that you buy can have a huge impact on how much you can expect to spend. A round diamond is considered the most desirable shape because it creates the most sparkle. For that reason, round-shaped diamonds are the most popular and the most expensive. Unless this is the diamond shape she has her heart set on, you can save money by choosing a different shape.
Consider choosing a marquise or oval-shaped engagement ring instead. You can expect to save approximately $1,000 in comparison to a round diamond ring of the same quality. If you opt for a pear-shaped ring, you can save around $1,500. A heart or radiant shape can mean $2,000 extra in the bank. Even a princess-shaped ring can save you up to 35% in comparison to a round-shaped diamond ring.
2. Stay Away From Mined Diamonds
Lab-created engagement rings are a more affordable option than mined diamonds. The reason is simple: mined diamonds take more time to grow than those created in a lab. You can save up to 40% by opting for lab-created diamonds. This is an easy way to save money and still buy a beautiful ring.
3. Opt for This Carat Weight
Choosing a 0.99 carat weight diamond over a 1-carat diamond can save you thousands of dollars. Diamond rings begin to increase in price once you reach the 1-carat mark. These prices increase every 0.25 quarter after you’ve reached that mark.
What if you want to get her a diamond that’s one or more carats? The good news is that these savings don’t apply to only the 0.99 carat mark. It can help you save money at any carat weight bracket. Buying a 2.99 carat weight diamond will save money in comparison to buying a 3-carat diamond, for example.
4. Choose the Right Precious Metal
You might not realize it, but the precious metal used to make an engagement ring can have a huge impact on its price tag. So, this begs the question: if you want to save money, should you choose platinum or gold?
The answer is gold. Platinum is far more expensive. In fact, it costs up to 50% more than a ring made from gold. The reason? Precious metals are priced by how much they weigh, and platinum is a lot denser than gold. The good news is that gold is timeless and can be just as beautiful as platinum.
The type of gold you choose also affects cost. Since 14k gold contains less gold than 18k or 24k gold, it’s a lot more affordable. Considering it’s more affordable, it might surprise you to learn that 14k gold is actually more durable than other types of gold. This is because it contains more alloyed metals, so it’s actually harder and less likely to bend than 18k or 24k gold. Check in a jewelry store you trust should you need more information about ways to save money by choosing the right gold type.
5. Consider a Halo Setting
Halo engagement rings are trendy — and for good reason. They’re beautiful and a cost-effective option. The halo setting has pave or micro-pave stones surrounding the center stone. The setting accentuates the center stone, creating the illusion of a larger diamond. That means you can opt for a smaller center stone, which can mean significant savings.
These are just five easy hacks to save money on an engagement ring. Making a few easy choices can help make a beautiful ring so much more affordable in the long run.
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