Creative Ways to Save Money When Looking to Purchase Affordable Engagement Rings

If you are starting to look for the perfect engagement ring and wedding bands, you may be starting to think about how much you want to spend, and what an affordable price point for your financial situation is. It is important to remember that before purchasing your partners dream ring, you know exactly how much you want to spend on both the wedding band and the engagement ring. In this article we will cover what to look for and tips to do when looking to purchase the perfect ring!

Buy Lab Grown Diamonds Over Natural Diamonds

A great way to ensure the engagement ring or wedding bands you will be purchasing are cost effective is by including lab grown diamonds over mined diamonds. As lab grown diamonds, such as Moissanite, are budget friendly and look the same as mined diamonds, they are a beautiful choice for those who are looking to get the best value. Lab grown diamonds are also a great alternative over mined diamonds, as you can rest assured that every diamond you are including in the ring will be of the highest quality. As Moissanite is man made in a lab, the man made diamonds pass a strict quality control test which means every gemstone included in your engagement ring will be perfect. This means you are purchasing an affordable engagement ring, with the bonus of knowing every stone will be perfect! This cannot be said for mined diamonds, as every diamond is different therefore impacting the quality. This is why purchasing lab grown diamonds, such as Moissanite, is a great open for those looking to purchase affordable engagement rings.

A woman wearing her moissanite engagement ring while holding her husband's hand.

Be Strategic With The Cut of Diamonds You Choose

Another creative, and often overlooked, way to keep the cost of the rings down and to ensure you will be purchasing inexpensive engagement rings is to be strategic with the cut of diamond you choose to have in your engagement ring. Some cuts of gemstones require large stones (and therefore have a heavier carat weight) but do not give the appearance of a big stone, while others require smaller diamonds with a lesser carat weight that covers a larger surface area. This is a great way to become creative with the design of unique engagement rings. This way, if you are looking to save some money when buying your dream engagement ring, do your research before purchasing as you can find smaller diamonds which give the illusion of a bigger stone due to their larger surface area.

Some styles to stay away from if you are looking to keep the cost of the engagement ring at an affordable price:

  • Round brilliant

  • Princess cut

  • Cushion cut

Styles that are perfect for affordable engagement rings:

Don't Go Over The Top with Gemstones

Another way to make sure you are purchasing affordable engagement rings is to keep the design of your engagement ring or wedding rings very minimal. It is easy to get carried away with carat size, specifics with the metals such as white gold or yellow gold, and what is the most "trendy" popular choice for rings, however it is important to keep in mind that all of these little things add up fast which will put the cost of the rings up quickly. If you are strategic with the cut of diamond you are getting (for example purchasing a diamond which is smaller but covers a larger surface area), you can then keep the amount of additional gemstones to a minimum which will therefore be reflected in the price. This especially rings true if you are looking to purchase a bridal set, as they can oftentimes include a large, center stone diamond with numerous smaller stones included in the set. Sometimes they can include a multi stone setting, which will again put the price up.

Another thing to note is that by choosing to use minimal stones in your ring, you will be okay if supply chain delays ever become an issue. This is why it pays to be creative when choosing or designing your engagement rings - not only will including minimal stones save you money, but may also save you time!

Use a Specific Precious Metal to Save Some Money

Another thing you can do to ensure you are purchasing an affordable engagement ring is to ensure you are purchasing engagement rings that use a cost effective metal. For example, if you choose to opt for a smaller diamond ring or wedding band, but use a premium metal, your cost will increase, and you will find yourself with a higher bill than expected. However, you will want to ensure that you will be choosing a metal that will last, so you are not having to spend money on frequent maintenance. This is why it is extremely important to do your research before purchasing such a special ring.

When looking to save some money when purchasing a diamond engagement ring, the metal shop you will purchase your ring from should be able to give you some good guidance as to what metal you should choose that will give you the best longevity. In our opinion, rose gold is a great starting point in your shopping research for affordable engagement rings. Rose gold is made from gold which is then mixed with copper and silver, which is what gives the band a lovely rose gold colour. This type of metal is also great for those with an active lifestyle, as the copper makes it stronger than sterling silver, gold, or platinum, which means it won't scratch or become damaged easily. It also requires less upkeep than its counterparts, which means you will save money in the long run.

Another metal that is typically sold at a reasonable price is white gold. Stunning, timeless and classic, a white gold band for an engagement ring or wedding bands is a style that will never go out of style. A huge plus for white gold is that it is mixed with other metals which are stronger than yellow gold, making it a very durable metal for those who are looking for rings which won't scratch or become damaged easily. In terms of diamonds and gemstones, white gold band looks best alongside white colourless diamonds.