The Big Engagement Ring Budget Debate: How Much is Too Much

Have you ever found yourself caught in the daunting debate of how much to spend on an engagement ring? For years, society has drilled into our heads that an engagement ring should cost at least 3 months’ salary. But let's be real here - that concept is outdated and can be financially straining. 

When it comes to making such a significant purchase, it’s essential to strike a balance between showing your love and being financially responsible. After all, starting a life together should not begin with a mountain of debt from an overpriced ring.

The key is to focus on getting the most value out of every dollar you spend. 

Balancing Love and Financial Responsibility

Now, let’s talk about what modern women really want in an engagement ring. Gone are the days when a massive rock is the ultimate goal. 

Today, women are leaning towards more versatile and practical options that can double as a wedding ring. So, how can you ensure that you are getting the most bang for your buck when it comes to choosing the perfect ring?

Save Money and Enhance Your Honeymoon Fund 

One thing to consider is opting for a lab diamond instead of a natural diamond.

Lab-grown diamonds have the same physical and chemical properties as natural diamonds but are priced lower. While natural diamonds may have more resale value, let's face it – are you really going to sell your precious engagement ring?Instead, you can save money upfront by choosing a lab diamond and saving up the rest of that fund for your honeymoon.

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Tips about buying jewellery:

1. How to make your ring appear larger without breaking the bank?

For example, using a halo design can create the illusion of a bigger stone without the hefty price tag. Carrie K. offers a stunning Hexa Halo Ring Shank that is sure to impress. Our experts also recommend focusing on factors that can maximize the ring's visual impact, such as selecting a larger, elongated stone.

2. How to get better value: large gemstone or unique design? 

Certain designs will definitely make your ring look more expensive than it actually is. Certain designs might not have that effect, but it could be the perfect ring to showcase your partner’s personality. It’s not always about the huge gemstone, but also the design that brings out the beauty out of your engagement ring.

Laboratory-grown CVD rough diamond (left), laboratory-grown HPHT rough diamond (middle) and natural rough diamond (right)

3. How to find your perfect choice of natural/lab diamond?

When it comes to choosing the right diamond, consider factors like colour and cut. Paying 10-15% more for a higher colour grade may not make a significant difference to the naked eye, so opt for an F/G grade as a more cost-effective option. Instead, focus your budget on the cut of the diamond,  as it is responsible for the diamond's fire and sparkle. By investing in a well-cut diamond, you can ensure that your ring shines bright like a star without breaking the bank.

Carrie K. Customisation Experience

 

Whether you are in the market for a traditional diamond ring or a vibrant colored gemstone, our team is here to assist you in finding the perfect ring that ticks all the boxes - beauty, quality, and affordability. Join us at our Diamond/Coloured Gemstone Workshop for tips and tricks on selecting the perfect ring and book an appointment to begin your engagement ring journey. Book an appointment today and let us help you find the ring of your dreams - one that reflects your unique love story and fits seamlessly within your budget.