If you can't afford a ring right now, the best thing would be to wait. Put money aside each month until you can buy the ring in cash. But that might not be possible, especially when you have other loans to deal with.
Saving up what you need could take a year or more. We get it that you might not want to wait to propose. In that case, you could consider getting a cheaper ring, financing the ring or putting it on a credit card. But be careful: financing doesn't mean you should pick the largest diamond you can charge.
You still need to choose one that fits within your budget. The more cash you can bring to the table upfront, the better. If you must borrow the rest, develop a pay-off plan the wedding date is a great deadline.
But you need to have a feasible plan to pay off the balance before the promotional period ends. If you need more time, try to find a credit card with low interest. Some diamond retailers will have financing options too. But be careful because they could have some tricky terms. The interest rate is also usually very high.
What about borrowing the money from a family member? This option has pros and cons. The good thing is that a family member won't do credit checks and, most likely, won't charge interest either.
However, if you don't pay back the money in a timely manner, the relationship could be ruined forever. If you go this route, make it as official as possible, with a written contract and payment terms. Don't shop during peak times Avoid buying a ring between Thanksgiving and Valentine's Day.
Proposals are at an all-time high during this period, which means the engagement ring prices are too. Also plan ahead for the next step by knowing the best time to buy your wedding rings.
Know before you go Your knowledge of diamonds could play a major role in how much you spend at the jewelry store. So, before you go, research the 4Cs carat, clarity, cut , and color so you'll have the knowledge you need to negotiate the best deal.
Go just under whole and half carats Whole and half carat diamonds will jump significantly in price. And nobody will be able to tell the size difference. Compare 0. Don't get too caught up on quality The diamond color and clarity are not as important as you think. Don't pay so much for features you can't appreciate. Instead, focus on getting an excellent cut.
The excellent cut will make the diamond more brilliant and hide flaws and tints, so you can go cheaper on color and clarity.
For the best balance of price and quality, we recommend H color and VS2 clarity. This will ensure that you get a white diamond that appears eye-clean, yet won't break the bank. For more of these expert tips, see our full article on how to get a diamond for best value. Make the center stone look big with a flashy setting If you can only afford a small diamond, you can still make it look larger with certain settings.
The halo setting is a favorite for making a huge statement with less. Not only is it pretty and trendy, it has serious bling factor and makes the center stone look a lot bigger.
Consider an alternative shape or stone Have you considered a cushion or oval shaped diamond? How about a sapphire, emerald, or moissanite gemstone? These options are easy on the eye and much more affordable than your standard round or princess cut diamond ring. If you truly cannot afford a diamond but want an alternative that looks like a diamond, consider popular diamond alternatives such as moissanite or cubic zirconia.
You'll be able to get a much larger diamond-like stone on a much smaller budget. Just make sure that your sweetie is okay with it. Go for 14k white gold White gold is a much cheaper alternative to platinum , but looks almost identical. For the best value, choose 14k white gold. It has less gold content so it costs less than 18k.
But it looks the same and plus, is more durable. Customize the ring online Shopping online for the ring makes customization even easier. Not only will the engagement ring be unique, but you could possibly save a wad of cash by thinking outside the box. If you're thinking about buying an engagement ring, James Allen is one of our top recommended online retailers and they offer a no interest for six months financing plan.
Check out some estate sales There are hidden treasures to be found at estate sales. But make sure to request a private appraisal before purchasing. Where to get a nice engagement ring for cheap? Select your state to get started. After a successful proposal, it's now time to think about how much money to spend on the wedding rings.
Though both wedding rings and engagement rings are symbols of love, they have different styles and meanings. The engagement ring is presented at the time of the proposal, as a symbol of commitment to the relationship.
It usually has a diamond or other gemstone center, so it's more expensive. Wedding rings are exchanged by both the bride and groom during the wedding ceremony, as a symbol of unity from this day forward. Wedding bands are simpler in design and don't contain a large center diamond, so they usually cost less.
A common rule is to spend 3 months salary on your engagement and wedding ring. But that is an outdated rule. Do this instead. Couples should discuss and shop for the weddings rings together. So this is usually a joint financial decision.
How much money you spend is a personal choice. It's important to pick rings that fit your personal styles and won't put you into debt. Men can choose an expensive gold band with diamonds, which will cost more. Matching or no? If she wants the wedding ring to exactly match her engagement ring, then your options will be limited.
If it doesn't matter as much, you'll have more flexibility to find a complementary wedding ring. Your lifestyle If you're very active, you'll want a more durable ring. Luckily for men, alternative metals like titanium are very strong and budget-friendly. For active women, platinum is the most durable metal, but also more expensive. Your other expenses You're probably going to be spending more than usual around this time, such as for the wedding itself and the honeymoon.
Consider what you value the most. Maybe you'll decide to spend less on rings and more on the honeymoon. As part of our series on engagement rings, CreditDonkey asked a panel of industry experts to answer some of readers' most pressing questions.
Here's what they had to say:. How much you spend on a ring is a very personal choice. This average can also vary depending on where you live. In general, those who reside in more expensive cities like New York City you can check out our NYC guide or Los Angeles see our LA review will likely spend more on a ring than those in less expensive cities. While it can be interesting to learn about the average amount spent on an engagement ring by others, remember to stick to your own situation and not get caught up in comparing yourself to others.
By shopping around with reputable vendors like James Allen and Blue Nile , you can get a sense of the prices for rings that meet your requirements. A brick and mortar store will always be more expensive than what you can find online.
For help in estimating the cost of the engagement ring, try our Diamond Price Calculator. These diamonds look identical in a ring. You may have heard that in order to determine how much to spend on an engagement ring, you need to look at how much money you make. The entire campaign and the two-month rule it spawned were based on nothing more than driving sales for diamond manufacturers.
Beyond the fact that it was started by marketers, there are lots of problems with the two months rule for buying an engagement ring. So, how many months worth of your salary should you spend on an engagement ring? However much you feel is appropriate. With this said, there are a few factors that you should look at before you start engagement ring budgeting. An engagement ring represents your love and commitment—and your investment in the future.
Many women have dreamed about their proposal and engagement ring since they were a child. Choosing a ring that meets their expectations is important—ensuring your special moment is nothing less than spectacular.
If you feel comfortable, have an open and honest conversation together about finances and ring expectations. When it comes to ring expectations, consider the following:. When in doubt, look at several options and listen to your intuition. Tension - Platinum.
Solitaire - Platinum. Think about the following when it comes to your financial situation:. With these factors in mind, estimate how much you can reasonably spend on an engagement ring.
You want to be able to purchase a ring without financing. If you do need to borrow some money or pay with a credit card , be sure you can pay off the amount in a couple of months. There are plenty of options to get the ring you want for less than what you would expect.
The thoughtfulness you put into designing a ring for your special someone will be noticed—no matter the carat weight or how large your budget is. Taking the time and effort to choose the most beautiful, personalized ring will pay off far more than anything else.
Also, eye-cleanliness is paramount. Even though this article is about the whole ring price, eye-cleanliness is an important part of picking out a diamond for the ring. We have recently developed Ringo, a patented artificial intelligence model, that can examine videos of diamonds and determine if they are eye-clean. The good news is that whatever your budget, there are more stylish and individualized diamond rings available than ever before.
Have a limit on how much to spend for an engagement ring? These designer diamond rings are beautiful and budget-friendly. Check out their top six diamond engagement ring shopping tips here: Sofia Zakia at Catbird. Single Stone at Greenwich St. Ring Concierge. Greenwich St. Image features rings from 77 Diamonds, Greenwich St.
Read More.
0コメント