Buying an Engagement Ring - Top Ways to Save

When it comes buying an engagement ring, the two-months salary convention is a common starting point. But in reality, the ring's cost should be what the couple can afford without going into major debt.

Cost varies for a lot of reasons – especially when diamonds are involved. Carat size is just one factor. In fact, a one carat center stone can cost anywhere from $1000 to $20000. Choice of metal also affects the bottom line; there’s a significant cost difference between a setting of sterling silver and one of platinum – anywhere from a few hundred to over a thousand.

If you're on a tight budget, these general numbers can be frightening. Thankfully, these useful tips can help you get costs down - so you can score a stylish ring on a budget:

1) Lose the Embellishments
Plain and simple always costs less. Any embellishments increase the price.

2) Forego Platinum
If you’re on a budget and want a silver hue, skip platinum and opt for white gold – it costs about 45% less.

3) Just Short of a Carat
For diamonds, always buy just short of the next carat level. So if you’ve got your eye on a two carat stone, swap it out with a 1.8 carat. You’ll save almost 20%, and the size difference is negligible.

4) Get a Set
Buy a matching or coordinating set (engagement and wedding ring) – and you can save as much as 50%. You’ll save even more if you buy a three piece set (engagement ring plus his and hers wedding rings)

You can find even more ways to save on an engagement ring by reading the original article on Elegala.com - Elegant Galas Made Simple.