How much to spend on an engagement ring? This question has troubled many and might go on doing so. You might have heard the standard rule of spending two to three months’ salary on the engagement ring. If you go by this rule, you would be spending around $20000 or even more. Remember that soon you would be hosting a dinner for over 100 people along with many other wedding expenses.
Is $5000 enough to spend on an engagement ring?
Why not shun this rule and stay within your budget? You can easily get a decent diamond engagement ring for $5000. Just shop smart and you can get the best ring at this price. An engagement ring is meant to commemorate your love and commitment. It should not be the reason to start your married life with a huge debt.
Here are a few tips to buy a perfect diamond engagement ring for $5000:
Buy Online
Online diamond shopping is economical, as these stores do not add the overhead charges in their price. Moreover, they offer many discounts and promotions that bring the prices down. According to an estimate, the price difference between buying online and from a physical store is between 30 and 50 percent. There are stores like Fergus James that work with you to help you create a custom engagement ring.
Many people avoid buying diamond rings online, as a high amount is involved and only buying is perceived as risky. However,e some pretty good online jewelry stores in the market are reliable and worth the money. They have a vast variety in their collection.
The websites contain 3D and zoom-in videos to show the quality and overall look. Moreover, you are able to compare the prices and collection between a lot of stores and that too in a short time.
Make Little Compromises
When you are shopping on a budget, a few compromises are bound to arise. But these compromises need not impact your choice or the ring’s overall appearance. That is possible if you play smart. 4Cs define the diamond jewelry overall look.
However, if you understand these traits enough, you would know that some of them can be compromised without much difference in the ring’s appearance. Similarly, you can compromise on the metal band. Platinum is an expensive metal, so you can switch to gold or rose gold to save up. Just make sure that your choice in 4Cs, the metal, and the ring’s design complement each other.
Color, Clarity, and Carat
These characteristics of the diamond can be compromised without affecting the ring’s quality or brilliance. For color and clarity, go for eye-white and eye-clear scales. The color scales denote how colorless or white the diamond is. The scale starts from D, i.e., colorless, and ends at Z. You can reduce a diamond’s price for going for the color grades that are white to the naked eye. J, i.e., nearly colorless is a good choice, as it is visibly white and costs less than a D.
The same rule applies to Clarity scales, which denote the presence of inclusions and blemishes in the diamond. You can go for slightly included (SI1, SI2) scales that are clear to the naked eye and economical too. You can go a few slots below this scale depending on the cut, color, and carat.
As for the carat, go for a 0.8-carat diamond instead of 1 carat. It will not affect the gemstone’s look but will reduce the price drastically.
No Compromise on Cut
Always go for the ideal or excellent cut. A diamond’s cut determines its brilliance, reflection, and beauty. It denotes the quality of the stone’s proportions, angles, and facets that influence how a diamond reflects light. An ideal cut hides the diamond’s flaws like a tinge or some inclusion. It has ideal brilliance and looks lively.
Only GIA or AGS Certificate
A diamond’s quality can be determined by its certificate. So, it is important to buy a diamond with third-party certification. These certificates mean the diamond has been tested in a gemological lab and graded as per its traits before coming up for sale. Many labs provide such certificates for diamonds, but all of them are not good or authentic. Experts recommend buying diamonds that have GIA or AGS certificates.
Bonus tip:
If you want to save money, always build your own engagement ring. It means buy a loose diamond as per your preference in the 4Cs and then select a setting.
