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As our team at Diamonds LTD. works with couples to find their dream engagement rings during different seasons of their lives, we understand that being able to afford an engagement ring is a concern for many couples. While it’s easy to dream of proposing with a beautiful ring that they show off to their friends and will love to wear every day, you also want to feel comfortable with making such a large purchase.

While it is an investment to plan for and take seriously, an engagement ring doesn’t mean you have to empty your entire bank account or take on unwanted debt before you take the next step in your relationship together. We’ve helped countless couples take their next step together and have compiled our best tips here

How To Afford Your Dream Engagement Ring

Keep Your Eyes In Line

First thing first— keep your eyes on your own lane. Say goodbye to the old ideas of two months’ salary, or any ideas that an engagement ring needs to be a specific dollar amount. Purchasing a ring should not just make your partner happy, but also allow you to sleep well at night because you took the steps that were right for your lifestyle, desires, and budget!

Set a Ring Budget

When it comes to life’s moments, it’s important to think about a realistic budget before you get too far in the planning process. Take a look at your proposal timeline (ie how long you will have to save up!), your finances, how you plan to save for and/or finance the ring, and come up with an engagement ring budget that allows you to still feel good about the purchase. 

Find Their Style

While a surprise proposal can be amazing, a totally surprise engagement ring might not be as welcome. Even if you plan on handling the actual picking out or designing of the ring, it is still a good idea to try to uncover their ring style ahead of time. Finding out in advance if they prefer modern to vintage, or solitaire to halo— or even if they’ve always wanted a fancy color diamond— will direct your engagement ring purchase more than anything else.

Lean On the Experts

While exploring engagement rings online has its value, it’s wise to take advantage the knowledge and resources of the experts when shopping for your engagement ring. Our online diamond education page has easy-to-digest information that can help you make an informed purchase.

Choose What Is Most Important To You

There is a lot to consider when purchasing a diamond, so get to know the 4C’s to find the key characteristics that are most important to you and worth paying a premium for. You might be surprised to learn that you can save money on some of the 4C’s by choosing a certain setting or metal color— settings that allow you to afford a bigger diamond or other upgrade! 

Protect Your Investment

Just like other larger purchases, it’s a good idea to protect your investment. Unfortunately your engagement ring can become lost, stolen, or damaged. We can help you through this unfortunate time. Our team at Diamonds LTD. works directly with customers and their insurance companies to make sure that any loss of jewelry is handled quickly and professionally. Diamonds LTD. Insurance Replacement Cost Reports provide detailed information which will assure you of a fair replacement of equal quality and value.