After the world financial meltdown we all witnessed recently, the prices of commodities like gold and precious stones have skyrocketed. This means that jewelry items such as rings and necklaces can be a particularly expensive buy. If you’re ready to pop the question to your partner though, you shouldn’t let the high engagement ring prices put you off doing so, as there are a few ways in which you can save money on engagement rings without disappointing your bride-to-be.

Brand – A brand name diamond is always going to be much more expensive than an unbranded stone. In the same respect that branded clothing is more expensive than unbranded. If you are looking to save money on a ring then just go for a generic stone. Plus, just as clothing fashion comes in and out, so does jewelry fashion, so in a few years, spending a huge amount on a branded stone might not seem like such a sensible idea.

Negotiation – Plan to haggle a little after you’ve made your decision about which stone or ring you plan to purchase. Retailers normally mark jewelry up 200% or more. There is no shame in “discussing” the price with the salesperson. In fact, you’d be silly not to have a price discussion. It’s the same as making any other large purchase. You wouldn’t buy a car off a lot without discussing price. Do the same before you purchase a diamond.

Shape – The shape of the stone makes a huge difference to the cost. To save money on purchasing an engagement ring, try to find a stone that has been cut to an oval or pear shape. The reason behind this being that these cuts make the diamond appear bigger than it actually is and brings the carat weight to the top. Also, diamonds cut this way are less popular and can be much easier on your wallet.

Band – People immediately notice the diamond in the center of an engagement ring. The band is secondary. It makes lots of sense to choose a simple band and put that saved money into the centre stone. Your fiancee will be blown away by the beautiful centre diamond and that’s what everyone else will notice too.

Stone – One common mistake people make when they are looking to customize their engagement rings is to purchase the stone from a retailer and have the same retailer set the stone. This can costs huge amounts and can be avoided of you find the stone you want elsewhere and take it to another retailer you want to set it at.

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