Tips To Stay On Budget And Still Buy The Engagement Ring Of Your Dreams

May 11, 2015

Tips To Stay On Budget And Still Buy The Engagement Ring Of Your Dreams

When purchasing the perfect engagement ring, budget shouldn’t be a factor that holds you back. Yes, engagement rings can be expensive and finding the ring of your dreams can be hard when taking price into consideration. For starters, there are a number of financing options available when making this important purchase. We also have budgeting tips and things to consider to find the perfect ring you can afford.

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Establishing a Budget

So, how do you determine your budget? Typically, the rule of thumb is an engagement ring will equal about two months’ salary. With this in mind, saving or setting aside money is a great idea when you know you’re ready to pop the question. If this isn’t realistic, look at your typical spending habits and see how much money you have left over. If it takes you longer than two months to accumulate enough money to purchase a ring, that’s OK. What matters most when budgeting for a ring is that you can continue to live your life as normal while keeping an engagement ring in mind. Another great resource is speaking with a jeweler. They can give you a realistic idea of the purchasing process and how much you can expect to pay.

The Four C’s

As far as looking at engagement rings, once you know what you can afford avoid looking at rings outside of your budget. If you do, chances are you will find something you love and will not be completely satisfied with any other ring you find. Other factors that can dramatically change the price of an engagement ring are the four “C’s”: clarity, carat, color, and cut.

  • Clarity

    Clarity is a reminder that diamonds are like any other rock or mineral – they have flaws (inclusions). No matter how much a diamond cutter polishes a diamond, these imperfections are still there. Are these inclusions easy to see with the naked eye? Depending on where they are on the diamond, no. With this in mind, many times you can accept a lower grade of clarity to save on cost without compromising the look and beauty of the ring.
  • Carat

    To most individuals, carat is a measurement of size when in reality it is a measurement of weight. Small differences in carat weight (1.2 carat to 1.3 carat) can change the price of a ring dramatically – sometimes thousands of dollars, and the two rings will look almost identical to the human eye. If you are on a budget selecting a smaller carat could save you a lot of money.
  • Color

    Diamonds come in every color of the spectrum. The most popular (and most expensive) diamonds, however, are white diamonds. Colored diamonds are now a popular trend, but if you are looking for a more traditional ring, a “near colorless” diamond will be a higher price. This is something to remember as you are looking at rings as color is not hidden like clarity or hard to tell small changes with like carat weight. 
  • Cut

    Diamond cut is the most important “C”. This is because it is the overall look and feel of the ring- cut has the greatest effect on a diamond’s beauty and value. Every angle affects how light is reflected changing the shine and sparkle the ring displays. Every diamond is cut differently, and you don’t truly get the impact of a ring without looking at it in person. When looking at engagement rings and really considering making a purchase, make sure to pick out and purchase a ring in-store.

With our diamond search tool on our website, you can easily play around with these factors to see what your budget friendly diamond will look like.

Best Ring Options When on a Budget

Once you understand the four “C’s” and how they impact engagement rings, it’s time to shop around. If you’re on a budget, however, we have three styles you may want to consider:

  • Halo Effect

    Halo style rings feature a larger center diamond with smaller diamonds surrounding it creating the look of a larger diamond. If big and sparkly are your goal, a halo ring may be the perfect option.
  • Diamond Clusters

    A new ring trend is the diamond cluster ring. Unlike the halo style with a larger diamond in the middle of the ring, this style features small diamonds clustered together with no center ring. This ring gives you the dramatic sparkle affect in a budget-friendly way.
  • Splash of Color

    The colored diamond is also a trend this year when it comes to engagement rings. Color can add personality and hold special meaning for the bride-to-be.  If color is something you’re looking for, it can be a money saver.


Engagement rings should reflect the bride-to-be’s style and personality. Finding the ring that will make her dreams come true (while staying on budget) is the goal for every groom-to-be. Knowing a realistic budget and how the four “C’s” impact the price of an engagement ring will help in the search for the perfect ring to pop the question.

J.F. Kruse Jewelers