5 Tips to Budget for Your Engagement Ring

Engagement Ring

It’s easy to get carried away when shopping for an engagement ring. You want the very best for your partner because this ring can show how much they mean to you. However, perfect doesn’t necessarily mean a big price tag. It’s an important piece of jewellery and certainly a big purchase, but it doesn’t have to be expensive as you might think.

Set a Price

First things first, you need to set yourself a price and how much you’re willing to spend. While an engagement ring is a beautiful piece of jewellery, there are other things you need to be saving up for, too. The wedding, honeymoon, alongside your day-to-day spending. You need to decide how much you can afford to spend on this ring and still be comfortable. Be realistic with yourself.

Get Advice

Once you’ve made a decision, you can start looking for engagement rings within your price range. This can be incredibly overwhelming to start with, so don’t be afraid to ask for help. Ask for your family and friends. It’s also worthwhile asking jeweller’s, such as F.Hinds, for their guidance. Their expert advice can make your life much easier.

The Four C’s

When you’re asking for advice, you’re likely going to get asked questions that revolve around the four Cs. Let’s have a quick breakdown of these. Cut – how much will the diamond sparkle. Colour – diamonds have a spectrum of shades, from colourless to a light yellow. There are also bright-coloured ones. Clarity – how many natural marks are on the diamond. Finally, there’s carat – which is the weight.

Partner’s Priorities

Every person will have different priorities when it comes to an engagement ring. Some will want it covered with diamonds, whereas others will strive for simplicity. There is no rule book to follow when it comes to finding the perfect engagement ring for your partner. You need to know what’s important to them and what their style is like. Look at the current jewellery for inspiration.

Alternative Routes

It’s worth remembering there is no set route to follow when buying your engagement ring. Whether you want to look online for deals or check out vintage shops – there are alternative ways you can find the perfect ring. You can do what feels right for your relationship.

There is no right or wrong amount to spend on a ring. It all comes back to you and your partner’s priorities. Do you have any tips for budgeting for an engagement ring?

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.