How To Find The Perfect Engagement Ring That Will Fit Your Budget

How To Find The Perfect Engagement Ring That Will Fit Your Budget

Engagement rings are one of the most important things a person can buy — and also the most expensive. But more and more couples are looking for engagement rings that are equally beautiful and affordable, which is easier than you might think. 

Jewelry stores are the norm when it comes to engagement ring shopping. Yet there are other places where you can find rings at lesser costs. Ultimately, finding an alternative to traditional jewelry stores can save you a lot of money  when buying an engagement ring.

Here’s how to find an engagement ring that fits your budget.

Affordable Engagement Rings Are Growing In Demand

There’s an old-fashioned rule that someone should spend at least three months of their salary on an engagement ring. It turns out that guideline started out as a marketing ploy by businesses to enhance sales at the start of World War II. 

Luckily, this belief is becoming less mainstream as shoppers search for more affordable options.

A growing trend among couples is saving money in their relationship rather than overspending to celebrate it. It starts with saving money on cheaper engagement rings and putting that extra money towards more substantial investments — such as a house, honeymoon or retirement fund. This shift is partly because couples want  to break tradition and partly due to the fact that life is getting increasingly expensive for Americans. 

Although a shift is happening, the national average being spent on engagement rings is almost $5900 according to a study from The Knot. Whether that’s in your price range or not, there are places you can find more affordable options.

Where To Find Affordable Engagement  Rings

Jewelry stores are beautiful and pristine with state-of-the-art pieces, but there are alternative places you should consider when shopping for an engagement ring . Start online and compare prices from various retailers. Once you get an idea of a style that will match your budget, see if you can find it at one of these places.

Go Beyond Jewelry Stores

Your first instinct would probably be to head to a big-brand name jewelry, but there are plenty of reasons to avoid them. You’re charged a premium to shop there no matter what you’re buying, so only use these stores as a source of inspiration. 

Other places to shop for affordable wedding rings include:

  • Big box stores — they offer competitive pricing because they buy traditional, classic jewelry designs in bulk.
  • Department stores — you can find curated jewelry counters that provide an upscale shopping experience similar to an actual jewelry store. They also have more options than big box stores. 
  • Online stores — Anything can be bought online, even jewelry. Find online retailers and browse throughout the selections to compare prices and styles without having to step foot in a store.

Discover Family Heirlooms

An engagement ring of any kind isn’t your average hand-me-down. It’s a sentimental item that can hold a lot of meaning. Talk to your relatives and see if there’s anything to discover in an old jewelry box they might let you have. Plus, it’s sustainable so you can feel guilt-free by not possibly investing into the controversial practices jewelry businesses are known to engage in.

Consider A Lab-Made Diamond

Just because a piece of jewelry isn’t mined from the depths of the earth doesn’t mean it isn’t special. A more innovative approach to engagement rings is buying from a lab-made jeweler. They grow diamonds with similar quality to mined diamonds and allow consumers to save hundreds — and even thousands — of dollars on an engagement ring.

Ditch The Diamonds, Find A Metal Ring

Although metal rings aren’t as customizable as diamonds, they’re significantly cheaper in price. They’re simple, timeless engagement bands that are not very difficult to take care of. Some options to consider are:

  • Platinum
  • Gold
  • Sterling silver
  • Stainless steel
  • Titanium
  • Tungsten

How To Get Started

However much you decide to spend on an engagement ring, one rule to follow is the amount should be within your means. It’s an investment and one of the biggest decisions of your life that deserves taking the right amount of time to figure out.

Many couples have started shopping together for engagement rings and are becoming more open about discussing the logistics of it. This way you know exactly what style your partner wants and you can talk prices that won’t take a hit on your finances.

Always start online and browse different selections by price. You’ll quickly find which styles are more expensive and which ones fit better within your budget.