Five Ways to Save Money on an Engagement Ring

Engagement rings and wedding bands are outward symbols of our love for another person. While many people prefer pricey or elaborate rings, budget restrictions lead to selecting a cheaper alternative. Before spending your savings or maxing out credit accounts on the perfect ring, consider the following five ways to save money on an engagement ring purchase.

1. Online Discount Jewelry Retailers

The Internet makes it possible to purchase any item for up to 60% off the retail price. While the ideal of shopping online for an engagement ring or wedding band may sound unappealing, the savings are amazing. Besides, several online retailers purchase overstock merchandise from larger retailers. Due to low overhead, online retailers can sell the rings at a huge discount. Before buying, browse the ring selection offered by several online retailers and make price comparisons.

2. Buy Used

Buying a used engagement ring is the perfect solution for couples on a tight budget. A used ring does not necessarily mean cheap. People sell wedding jewelry for various reasons. If a divorce or break-up prompts the sell, you could possibly snag a great ring at a super low price. Frequently browse the classified section of the newspaper, and visit the local pawn shop. In many instances, individual sellers and pawn shops agree to appraisals. This way, you get a clear picture of the ring's worth before buying.

3. Estate Jewelry

A local estate sale is an additional great place to find an engagement ring. Estate jewelry is sold at unbelievable discounts. Search for estate sales in your area, or visit a retailer that specializes in estate merchandise.

4. Shop Abroad

Another approach to buying an inexpensive engagement ring is shopping abroad. The Bahamas, Cayman Islands, and Mexico have great deals on jewelry. Before buying in the States, consider a vacation or cruise to one of these destinations. Have your credit card or checkbook close at hand. On average, the overseas savings on jewelry is approximately 40% - 60%. With this said, you could save a fortune on the purchase of an engagement ring and wedding band.

5. Buy Faux

Engagement rings and wedding bands are costly. For this matter, some financially savvy couples have chosen to delay the purchase of an expensive band, and use the money to payoff debts or purchase a home. There is a wide selection of believable, quality faux diamond rings. Choose a high-end cubic zirconia or moissanite diamond. Either ring is available for under $100.