Budgeting for your Engagement Ring

Buying a diamond engagement ring can seem like a daunting task when you first start to investigate it. It’s a life changing expenditure (in more ways than one) and it bears careful consideration as there are a bewildering array of options for you to choose from.

Deciding on a budget early on can be a great place to start as it ensures you get the diamond engagement ring that is perfect for you within your price range. There are lots of so-called ‘rules of thumb’ that say you need to spend two or three or even four months’ salary on a ring! The most important ‘rule of thumb’ is to be comfortable with what you are spending, every couple is different and every couple should spend as much as they are comfortable with and never go massively into debt to buy one.

There are a few areas that can help you maximise your budget if you’re clever!

Maximising Your Budget

Once you have a budget in mind you can begin to explore options within your price range. Keep in mind a few things while you are looking.

  • Platinum is very beautiful and the most durable of the precious metals, however, it is also the most expensive, opting for white gold will give you a very similar look for less money.
  • Use the diamond setting to your advantage. Go for a detailed setting with a halo or cluster of diamonds and pair it with a smaller centre stone. Diamond prices increase exponentially with size so smaller diamonds will cost less than larger ones while still giving you a stunning ring.
  • Select a diamond that is just under the more popular full carat cut-offs as these can have significant savings while being visually indistinguishable from the full carat sizes. For example: a 0.9ct diamond will cost less than a full 1ct stone but will look the exact same size.

No matter what your budget is our goal is to help you get your perfect diamond ring. We work with you to help you maximise your budget to create a ring that you and your partner will adore.

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