Here are 6 ways to save money when shopping for a diamond.
1. Disregard the 3-Month Salary Rule
You might have heard, from people who don’t have to live off of your salary, that the proper amount to spend on an engagement ring is three months of your salary.
Good news: you can safely disregard that advice.
That salary-based rule is derived from clever marketing by the diamond industry. Of course that industry wants you to spend as much money as possible on a diamond.
Keep in mind also that the value of your relationship isn’t measured in dollars. According to an Emory University study, the more people spend on an engagement ring, the shorter the marriage.
In a nutshell: price doesn’t matter.
2. Accept Flaws
Do you want the perfect diamond? Then you’d better have the perfect job.
The fact of the matter is that the vast majority of diamonds have some flaws. However, most of them aren’t visible to the naked eye. Unless your girlfriend is a jeweler, you don’t need to strive for perfection when it comes to shopping for a diamond.
3. Understand the Weight
When it comes to diamond, weight might be the most important metric. People don’t usually look at a diamond and say “Wow! I can’t see any imperfections!” Instead, they say something like: “Wow! That’s a big diamond!”
Jewelers typically price diamonds based on weight, so you might be able to find a diamond that looks as large as another one, but is really half a carat less in size. That will save you some money.
4. Shop Online
Believe it or not, you can shop safely for a diamond online. It’s often the case that you’ll find a much better deal online than you will when searching “the old-fashioned way” from store to store in your local area.
You also won’t have to deal with the pressure of a sales person like you would at gold and silver pawn shops. That’s an added bonus right there.
5. Look at Band Options
Sure, a platinum band looks great and is durable. However, a gold band is less expensive. If you think that your sweetie will be happy with a great diamond that sits atop a gold band, save yourself a few bucks and go economical on the ring itself.
6. Get It Custom Made
You might have seen a picture of a branded ring that caught your eye. You’re certain that your significant other would love that exact ring.
Before you buy it, though, take a picture of it and show it to a local jeweler. You might find that the jeweler can make a ring that looks exactly like the one in the photo for less money.
There are ways to save money even when it comes to shopping for a great diamond. With a little bit of planning, you can get the perfect diamond for that special someone in your life without draining your bank account.
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