How much is reasonable to spend on an engagement ring

Using a credit card to make such an expensive purchase could end up costing you big in other ways, too. Or worse, leave you with the kind of long-term debt that makes it difficult to secure a mortgage loan or make other important financial decisions with your partner.

The wedding industry took a major hit in due to COVID, and while vaccinations are becoming more readily available—and with it, the hope that life will return back to normal— experts predict that weddings will look different for years to come, and so will the experience of purchasing an engagement ring.

A recent study by The Knot found that shopping for engagement rings online increased during the pandemic. In December , The New York Times reported that jewelry purchases are on the rise, with engagement ring sales leading the charge. According to Reynolds, it all makes sense. The product experts at Reviewed have all your shopping needs covered.

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James Allen financing also offers payment options for 6 or 24 months. Going with a worse value only because they offer financing is not a smart decision when it comes to selecting a diamond.

Finding an exceptional engagement ring starts with finding an exceptional diamond vendor. You want to purchase your ring from a dealer you can trust: one that offers well-cut diamonds at excellent prices.

Also, being able to design your own engagement ring can save you a lot. We have a consistent pulse on the companies you can trust. Learn more about Brian Gavin in our full review. James Allen focuses on the customer experience and offering appealing prices. Read our James Allen review. Blue Nile maintains the largest online inventory of diamonds and settings, while emphasizing remarkable diamond and jewelry quality.

Check out our Blue Nile review. Leibish is our recommended vendor for gemstone engagement rings. A colored gemstone, like a sapphire or ruby , is a beautiful, lower cost alternative to a diamond.

Gemstones tend to be less expensive than diamonds, while most colored diamonds are more expensive than white, colorless diamonds.

To find the most beautiful engagement ring within your budget , follow these expert recommendations and review our additional Diamond Pro resources:. Shape is usually decided based on personal preference. Carat weight is not the same as size. For example, a 1 Carat Diamond refers to the weight of the diamond only. Only consider diamonds with an ideal cut or an Excellent grade on the GIA scale.

An exceptionally cut diamond will maximize the fire and brilliance of the diamond more than any other factor. VS1 and VS2 diamonds offer the greatest value for what can be seen with the naked eye. Blemishes and inclusions will be unnoticeable. Consider diamonds that are graded in the nearly colorless range of G to I. What about borrowing the money from a family member?

This option has pros and cons. The good thing is that a family member won't do credit checks and, most likely, won't charge interest either. However, if you don't pay back the money in a timely manner, the relationship could be ruined forever. If you go this route, make it as official as possible, with a written contract and payment terms.

Don't shop during peak times Avoid buying a ring between Thanksgiving and Valentine's Day. Proposals are at an all-time high during this period, which means the engagement ring prices are too. Also plan ahead for the next step by knowing the best time to buy your wedding rings. Know before you go Your knowledge of diamonds could play a major role in how much you spend at the jewelry store.

So, before you go, research the 4Cs carat, clarity, cut , and color so you'll have the knowledge you need to negotiate the best deal. Go just under whole and half carats Whole and half carat diamonds will jump significantly in price. And nobody will be able to tell the size difference. Compare 0. Don't get too caught up on quality The diamond color and clarity are not as important as you think. Don't pay so much for features you can't appreciate.

Instead, focus on getting an excellent cut. The excellent cut will make the diamond more brilliant and hide flaws and tints, so you can go cheaper on color and clarity. For the best balance of price and quality, we recommend H color and VS2 clarity. This will ensure that you get a white diamond that appears eye-clean, yet won't break the bank.

For more of these expert tips, see our full article on how to get a diamond for best value. Make the center stone look big with a flashy setting If you can only afford a small diamond, you can still make it look larger with certain settings. The halo setting is a favorite for making a huge statement with less. Not only is it pretty and trendy, it has serious bling factor and makes the center stone look a lot bigger.

Consider an alternative shape or stone Have you considered a cushion or oval shaped diamond? How about a sapphire, emerald, or moissanite gemstone? These options are easy on the eye and much more affordable than your standard round or princess cut diamond ring. If you truly cannot afford a diamond but want an alternative that looks like a diamond, consider popular diamond alternatives such as moissanite or cubic zirconia.

You'll be able to get a much larger diamond-like stone on a much smaller budget. Just make sure that your sweetie is okay with it. Go for 14k white gold White gold is a much cheaper alternative to platinum , but looks almost identical. For the best value, choose 14k white gold. It has less gold content so it costs less than 18k. But it looks the same and plus, is more durable.

Customize the ring online Shopping online for the ring makes customization even easier. Not only will the engagement ring be unique, but you could possibly save a wad of cash by thinking outside the box. If you're thinking about buying an engagement ring, James Allen is one of our top recommended online retailers and they offer a no interest for six months financing plan. Check out some estate sales There are hidden treasures to be found at estate sales.

But make sure to request a private appraisal before purchasing. Where to get a nice engagement ring for cheap? Select your state to get started. After a successful proposal, it's now time to think about how much money to spend on the wedding rings. Though both wedding rings and engagement rings are symbols of love, they have different styles and meanings. The engagement ring is presented at the time of the proposal, as a symbol of commitment to the relationship.

It usually has a diamond or other gemstone center, so it's more expensive. Wedding rings are exchanged by both the bride and groom during the wedding ceremony, as a symbol of unity from this day forward.

Wedding bands are simpler in design and don't contain a large center diamond, so they usually cost less. A common rule is to spend 3 months salary on your engagement and wedding ring. But that is an outdated rule. Do this instead. Couples should discuss and shop for the weddings rings together.

So this is usually a joint financial decision. How much money you spend is a personal choice. It's important to pick rings that fit your personal styles and won't put you into debt. Men can choose an expensive gold band with diamonds, which will cost more. Matching or no? If she wants the wedding ring to exactly match her engagement ring, then your options will be limited. If it doesn't matter as much, you'll have more flexibility to find a complementary wedding ring. Your lifestyle If you're very active, you'll want a more durable ring.

Luckily for men, alternative metals like titanium are very strong and budget-friendly. For active women, platinum is the most durable metal, but also more expensive.

Your other expenses You're probably going to be spending more than usual around this time, such as for the wedding itself and the honeymoon. It's important to recognize the difference between bogus diamond websites and those of professional jewelers. Note that despite the lower engagement ring prices, you'll want to do your research before purchasing an engagement ring from an online retailer. Make sure you fully understand the company's payment and shipping methods, and the return policy.

It's also a good idea to read through the reviews on the company's website. Finally, requesting certification on any diamond is always a good idea.

There are a number of ways to verify the authenticity of a diamond, like GIA's Report Check , and customer service representatives at reputable retailers should be more than happy to disclose this information. Interested in buying an engagement ring online but not sure which stores to look at?

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