Getting an engagement ring is a big life decision for several reasons. Not only are you making a plan to choose the person with whom you want to spend the rest of your life, but you’re also making a substantial investment. Most engagement rings are not cheap, so it’s not always easy to find the ring you want on a tight budget.
Fortunately, if you think that you can’t afford an engagement ring, it usually means you’re just not looking in the right places. There are plenty of ways to get a great engagement ring without breaking the bank. You just have to shop smart. So, in today’s guide, we are going to help you find the most affordable engagement rings on the market!
Can You Get A Cheap But Real Engagement Ring?
The short answer is yes, you can definitely get a cheap engagement ring that has one or more real diamonds. We will discuss some strategies to find unique, affordable engagement rings a little later on, but in general, lab-grown diamonds are one of the most budget-friendly options. Since lab diamonds can be created in a matter of weeks (rather than billions of years) and they do not need to be mined in dangerous conditions, they cost significantly less than natural diamonds.
However, lab diamonds are created using the same processes that create diamonds in the natural world. As a result, lab diamonds and natural diamonds have the exact same properties. This means that by choosing a lab-diamond engagement ring, you can still get a real diamond without spending more than is necessary. If you’re currently in the market for an affordable lab diamond ring, be sure to check out our selection of lab diamond rings at Liori Diamonds.
It’s also important to remember that you don’t have to get a real diamond to get an engagement ring that looks great. For example, moissanite is commonly used as a diamond imitation at a fraction of the cost. While moissanite stones do not share the same composition as diamonds, they do look nearly identical to the naked eye. In most cases, you need a jeweler to tell the difference. Plus, you can get high-quality moissanite rings at very affordable prices. So, if you don’t mind getting a ring that doesn’t have a real diamond, moissanite is a great alternative.
How To Buy An Affordable Engagement Ring
In addition to looking for lab diamond or moissanite rings, there are a few different ways you can ensure that you get the most bang for your buck. It’s especially important to follow these steps if you’re not familiar with diamonds or jewelry shopping in general. This way, you can get a ring that both your future spouse and your wallet will love!
Make An Engagement Ring Budget
Even if you’re willing to spend a lot on an engagement ring, you should always set a budget beforehand. If you go in without a plan, you could end up spending more than you can afford. So, spend an hour or two determining how much ring you can afford and setting a maximum amount that you’re willing to spend. This simple step could end up saving you hundreds or even thousands of dollars in the end.
The conventional thought is that you should spend 2-to-3 months' salary on an engagement ring. Naturally, this just helps give shoppers a general idea of what they can or should spend. However, it definitely doesn’t apply to everyone. Instead, think about how much you have in disposable funds. Then consider how much, if anything, you will need to put on a credit card. It is generally inadvisable to take out a substantial loan for jewelry, so try to set an upper limit that does not require you to take on more debt than you can pay off in a reasonable amount of time.
Choose The Right Style
When shopping for a ring, you won’t want to set your budget so low that you end up buying a ring that you, or your fiancée, dislike. So, think about the style of the ring and how you can make that style fit with your budget. For example, if your future spouse wants a ring with halo pave diamonds, you’ll want to make sure that the center diamond and pave diamonds are not too large. Additionally, consider getting a ring with lab-grown diamonds or moissanite stones to further reduce the cost without changing the style or aesthetic appeal of the piece.
Focus On One Of The 4 C’s
If you’re unfamiliar with the 4 C’s of diamonds, these refer to the Cut, Color, Clarity, and Carat. These are the 4 characteristics that determine both the personal and commercial value of a diamond. The cut refers to the shape of the diamond. The cut doesn’t have a significant impact on the purchase price, but it does affect how the diamond looks. Color can have an effect on both the price and the diamond’s visual appeal. Clarity is one of the most important factors when determining the cost of a diamond, as a diamond with higher clarity (few if any inclusions or blemishes) will cost more than a diamond with low clarity. Lastly, carat refers to the size and weight of a diamond. Naturally, a larger, heavier diamond will cost much more than a smaller, lighter diamond.
Trying to get the best of all 4 characteristics will all but guarantee that you pay a lot more for your ring. So, try to focus on the factor that is most important to you and your partner. For example, if you know that your fiancée wants an oval-cut diamond, it may be better to focus on the cut. Alternatively, if you know they want a yellow diamond, the color should be your main focus.
Regardless of which characteristics you choose to focus on, you should generally make the appearance of the diamond your top priority. For example, many people are very focused on the clarity of a diamond. However, most inclusions and internal blemishes in a diamond are not visible to the naked eye. Consequently, to make sure that you’re getting the best-looking ring for your budget, you should focus on the aspects that directly affect the appearance to the naked eye, as opposed to a jeweler’s loupe.
Using A Payment Plan
Finally, even if you don’t have enough cash or credit to pay for an engagement ring all at once, you can make just about any ring more affordable by taking advantage of a payment plan. Fortunately, if you choose to shop with Liori Diamonds, we offer engagement ring financing with rates as low as 0%. This means you can pay for your engagement ring in installments with absolutely no interest added on.
Shop The Best Affordable Engagement Rings
If you’re looking for the best and most affordable engagement rings on the market, you can’t go wrong with Liori Diamonds. We offer lab-grown diamonds, natural diamonds, as well as moissanite rings in hundreds of styles and colors. With our rings, you can choose the exact cut, clarity, and carat count to fit your personal tastes and budget. Plus, if you qualify for financing, you can spread out your payments at no additional cost!
We hope you found this guide on affordable engagement rings both useful and informative! Are you in the market for an engagement ring? Do you want beautiful, certified diamond engagement rings at competitive prices? If so, be sure to check out the luxurious products available at Liori Diamonds today!