Finding the right affordable wedding ring is important. You and your partner will be wearing your wedding ring for the rest of your lives — meaning, it’s important the ring you choose is beautiful and durable.
While finding the right wedding ring is hard enough as is, it’s even more difficult when you’re on a tight budget.
The average cost of an engagement ring is about $6,000¹, which isn’t exactly affordable for many people.
Saving money on your wedding ring can help you set aside more money to buy your first home, pay for your honeymoon, or pay for the wedding itself.
Here are a few tips to help you find a high-quality, affordable wedding ring.
Timing is Everything
Buying a wedding ring can be considerably more expensive during peak sales periods.
Proposal rates rise during the holiday season — making the price of wedding rings rise.
To find an affordable wedding ring, be sure to avoid buying a ring during the period between Thanksgiving and Valentine’s Day.
Get A Unique Wedding Ring
If you and your partner don’t mind breaking traditions, you can opt for a wedding ring that utilizes uniquely shaped diamonds or rings that don’t use diamonds at all.
For example, you could consider rings that use emeralds or sapphires. You could also opt for a diamond shaped like an oval.
Wedding rings using different shapes and stones are often more affordable than traditional rings.
Use Family Wedding Rings
You can’t find a more affordable wedding ring than a free one.
Talk to your relatives, such as your grandparents, to ask if they would be willing to pass on a wedding ring that has been in the family for generations.
Using a family heirloom as your wedding ring is affordable and can mean a lot more than purchasing a ring from a jewelry store.
Do Your Research
Before going to the store, you should know how much you should reasonably pay for a diamond.
Make sure you understand the four Cs — that is, carat, cut, clarity, and color.
Understanding the factors that affect the price of a diamond will help you negotiate the best price possible.
One of the keys to finding an affordable wedding ring is knowing the actual value of the ring you intend to purchase.
Check Multiple Stores
Wedding rings are a big investment, so you should be sure that you are getting the best deal possible.
One way to do this is to go to multiple stores and compare the prices of similar rings.
Every store you go to wants to sell you a ring. In order to negotiate a lower price, you can use price quotes from other stores as leverage.
Find Great Deals Online
You don’t have to go to a traditional jewelry store to find an affordable wedding ring.
Searching online is a great way to find the high-quality, affordable wedding ring that you’ll want to wear for the rest of your life.
All you have to do is perform a quick search online to find the ring that meets your wants and needs.