Is the fear of how much an engagement ring will cost holding you back from taking that next step in your relationship? Shopping for an engagement ring should be a pleasurable experience…one you remember forever!
Not one filled with anxiety and pressure! Below are tips that will not only help men eliminate the stresses involved with purchasing an engagement ring but also save money in the process.
Set a Budget
A good idea would be to establish what is the most you would spend and what would be the least. Giving yourself a high and a low baseline will allow jewelry dealers to pinpoint exactly what range you are able to purchase in.
Determining these two pricing points will depend on several variables including but not limited to how much you earn, what your monthly expenses are and how much money you currently have saved.
There is no precise formula for determining what you personally should be spending on a ring. You are going to have to come up with pricing the fits your budget.
You want to make a purchase that your bride-to-be will be happy with but not one that is going to set you in extreme debt. If you are in a situation where money is tight now, but you expect to be earning more in the near future, consider applying for unsecured loans.
An unsecured loan allows you to obtain cash for whatever your needs are without having to put up collateral. Don’t worry about not having any money left for a wedding after your ring purchase. Wedding loans are a great option when money is tight!
Have An Idea Regarding Setting
There are varying sizes and shapes of engagement rings. To avoid being overwhelmed in the store, you want to have an idea what you are looking for prior to doing any actual shopping.
Will you spouse prefer a contemporary setting? Or perhaps they would rather an antique or classic look.
A good idea would be to look in magazines, online as well as rings on other women. If you find something you like, print it out, tear it out or take a picture and bring them with you. Doing this will result in a jewelry dealer knowing exactly what you are looking for!
Determining the Stone & Cut
Are you going to go traditional with a diamond?
Maybe you want to do something very different and go with a beautiful gemstone!
Buying a gemstone as opposed to a diamond ring will save you significant money! And once you figure out what kind of stone you are going to go with, you should get an idea regarding the cut.
There are so many different types of cuts. Your best bet is to go online and google ‘diamond cuts’ and click on the images tab. You should be able to find many different sites with clear examples of cuts.
If you decide to go with a gemstone as opposed to a diamond, you are still going to have to choose the type of gemstone.
It should be one that is meaningful. Some ideas include her birth month, your birth month and maybe even the month during which you had your first date.
Choosing the Right Metal
There are several different options for the metal for your engagement ring. 18K white gold and platinum are the most common and are considered the standard by most.
Note that platinum is more expensive than white gold. You can also select a palladium or 14K gold as the metal.
These two are the least expensive. It is important that you find out if your bride-to-be is allergic to any of these types of metals. If she is, she definitely won’t be able to wear a ring made up of that metal. It may cause skin infection.
An engagement ring will likely be one of the, if not most, important jewelry purchases of your life.
Therefore, you need to shop around and get pricing from multiple sources/shops. Never make a purchase from the first store you go to.
Shopping around will would get you the best deal for your money!
In conclusion, buying an engagement ring should be a fun experience! If you find yourself stressed, take a breather! As long as you do your due diligence and take your time while shopping, you will enjoy the process and get the best deal.
SB’s Thoughts : Very practical tips in deed. I would like to add that once you have a set budget, start saving towards it every month from your pay check.
Suppose the budget is for $5,000 and you are short by say $2,000 with a year before engagement, you start saving $180 per month towards it. If you can save some more, you’ll get a better ring.
But, most importantly, budget for the entire engagement cost and wedding. Not just the ring!
Want to share your wedding ring buying experience?