How to Save Money When Buying an Engagement Ring

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Your engagement should be full of happiness, love and the perfect piece of jewelry to top it off. Most women dream about their engagement ring for years before they actually receive one.

So how do you make it both memorable for her and easy on your wallet? Here are some ideas to keep in mind.

Research the best options

When it comes to choosing a ring, information is your best friend. Devote several days to scouring the web, making calls and asking friends subtly for any pointers.

You will have the option of buying online, going through a retail company, or purchasing a wholesale stone. The benefits of online buying include the massive selection available from every corner of the globe.

The downside is that you won’t actually see the ring in person until it arrives, and it may not be what you thought. To counteract this, check on the return policy. With a store purchase, you have the privilege of viewing all jewelry before committing to a final buy.

However, you may not have as many to choose from and this can be your priciest option if you aren’t careful. With wholesale, you really have to know your stuff. You will need to spend time learning how to identify the exact type of stone that you want, and make sure to know it’s going rate already when looking.

That way you won’t pay way more than the actual value. Always read up and be prepared when making this important investment.


This may seem like an odd idea, but it could potentially be both a great way to honor your heritage, as well as be less expensive. If there is anyone in your family that you are particularly close to, such as a grandmother or an aunt, you might ask them if they have a meaningful piece of jewelry they would like to pass down.

Keep in mind that this must be done with the utmost respect. Also, ensure that this is something your fiancé would like wearing, as opposed to it turning into some sort of obligation. Make sure to get it sized correctly, and touched up so it’s clean and beautiful when she wears it.

vintage rings diamonds

Credits: NYC Diamond Showroom

Look for deals

It is possible that your jeweler might have a bargain going where your wedding rings and engagement ring are included in one lower price, or some similar deal. This is not a guarantee, but it never hurts to ask!

Always inquire about low price options. You may be surprised at what is available just because you cared to find out.

It doesn’t have to be a diamond

It is becoming increasingly popular to wear an engagement ring that holds a stone other than a diamond. What about a ruby or sapphire? Maybe she really likes gold! Get creative here and think about the unique style of your future spouse.

Many quality stones can be purchased for less than you would pay for a diamond, but can be just as sparkling and gorgeous on her finger. Don’t limit yourself to the typical!

Set a price and make goals

It is important to know your budget when you do finally go shopping for this all-important buy. I would recommend setting a top price and making it your objective to stay under that number, by whatever means necessary.

Stick to what you are able to reasonably afford. An engagement should not make you go broke. I know many people have unrealistic expectations about their wants and desires. Large sized diamonds like the 2 carat sized engagement rings described in this article will cost you a bomb and a huge outlay of cash.

Remember, you are about to start a new life, and a little extra cash won’t hurt. So, stay within the limits you set for yourself, and mark that number before you even begin your search.

Your proposal will be unique and beautiful if you follow a few of these suggestions. And the last one is the most important of all: I can’t say it enough – know your limit! This is the best way to save money when buying an engagement ring.

new york wedding rings

Keep these tips in mind to both surprise her, and keep yourself from being strapped for cash. Or how will you take her out to that fancy dinner to celebrate?

Wait…you were planning on doing that, right?

Have a great ring search!

John Zaker
GIA Graduate
+1 240-846-6970