P.S. 3 months salary is a made-up piece of advice.
Anyway, here are 4 tips for buying an engagement ring that your local jeweler won’t tell you.
1. The Most Important Part of The Ring Is The Setting
The most important part of the ring is not the stone, it is the setting. If you go on any of the e-commerce engagement sites, many websites offer a wide range of settings that can fit the majority of loose stones on the site.
What they don’t tell you is that the setting is premade, and it will likely look a bit goofy when it is made to fit a variety of stones.
And this premade setting is often the reason you may have heard horror stories of someone’s stone falling out of their setting.
You can avoid this potential disaster by purchasing a custom-made setting. Your jeweler can build a setting made to fit the loose stone. It will cost $500 – $900 more, but from a safety and aesthetic perspective, you will be much happier.
2. The bandwidth is very important
Bandwidth. This is another crucial aspect the visual aspect of the bandwidth to stone size is very important. My wife’s band is 1.8mm with a 2-carat center stone. To me, the ratio is perfect. Depending on the size of your stone, you’d want to go as thin as possible. If you are working with a tighter budget, the thinner the band, the larger the stone looks. Also, it simply looks much better. Ever see those chunky bands where the band seems to eat the stone?
3. Consider Diamond Alternatives
In 2021, there are a plethora of options other than natural diamonds.
According to BrilliantEarth.com, lab-grown diamonds can cost 30% less than a comparable natural-grown diamond. A considerable saving. Considered a diamond, chemically. simply grown in a lab. There is no way for the naked eye to differentiate a lab-grown diamond from a natural diamond. Plus, lab-grown diamonds do not have the same environmental and social impacts natural grown diamonds have.
This is a gem that is very similar looking to a natural diamond, for a fraction of the price.
A 1ct diamond GIA-certified diamond can cost $4,000 + whereas moissanite of similar quality and size will be around $600. You can read more about the difference between Moissanite and diamonds on the Lauren B Blog.
Sales of moissanite rings have sky-rocketed in recent years due to the similarity of diamonds with enormous cost savings.
Colored Gem Stones:
The list above are just a few of the most popular gemstones available. The price of gem stones can vary greatly depending on the quality, however, in general, most gem stones will be cheaper than a natural diamond.
PRO TIP: Do not buy a 4ct moissanite when you can only afford a 1ct natural diamond.
If you go for a diamond alternative, pick something you could afford on a natural diamond budget. That way you won’t raise any eyebrows.
4. Go To a Legitimate Jeweler
Definition of a real jeweler: Someone who doesn’t try to make you walk out of the store the same day with a ring in your hand.
According to my jeweler, most people spend about 2-3 months finalizing their purchase. This is assuming you go for a custom ring and pick out your own stone.
Some places will be cheaper slightly others, however, you tend to get what you pay for.
Do your research before visiting the store. Obviously, Yelp and Google reviews aren’t always 100% accurate, but if you see a consistent trend in the reviews it’s more likely than not to hold some truth.
Here is a video of my wife’s ring
Comment below and let me know how much you think it costs. PS it’s not that expensive. Her style is J.Lo meets Jackie O.
Founder and author of realworldpersonalfinance.com [RWPF]. A blog dedicated to personal finance for millennials that want its readers to know they can be perfectly imperfect. Over the past 10 years, his net worth went from -$108,000 to $365,000, mainly through debt reduction, living below his means, and navigating the corporate world. There have been mistakes along the way, and he is still learning too. He's here to offer honest opinions and real insight that's based on his own personal experiences.