Popping the question, but don’t want to break the bank? To find amazing and yet affordable engagement rings, you need to learn what to look for when it comes to cut, colour and clarity.
An engagement ring is so much more than a band — it’s a symbol of love, commitment, and of course, a couple’s individuality! While tradition has made diamond engagement rings a classic, there are so many more rings to choose from today. Rather than just play a guessing game, check out our 5 expert tips on how to save money on an engagement ring so you don’t overpay for a feature that will go unnoticed.
Overview:
- Know the 4 C’s
- The Halo Hack
- Consider The Metal
- Choose a Gemstone Engagement Ring
- Opt for Cubic Zirconia
How to Save Money on an Engagement Ring: 5 tips
1. Know the 4 C’s!
When you know about the 4 C’s of rings, you’ll also know how to save money on an engagement ring! Let’s get into it.
CUT:
The ‘cut’ defines the way the stone is shaped. The common types include:
- Princess cut engagement rings
- Cushion cut engagement rings
- Emerald cut engagement rings
- Square engagement rings
- Round engagement rings and more!
The cut of the stone also impacts the price. While the princess cut is the cheapest, round or brilliant cut is usually a little more expensive. Round brilliant is usually the most expensive cut because so much of the rough stone is lost in cutting, while princess and other fancy shapes often cost less
COLOUR:
The most expensive colour for stones in engagement rings is “D”. However, the colours “G” through to “I” are just as popular, and a lot more viable as alternatives due to their lower prices and great appearance.
CLARITY:
The clarity of the stone lies at the heart of its appearance because after all, no one wants to sport a cloudy or dull-looking ring! It is important to look for imperfections that might not be visible to the naked eye and check the stone thoroughly for aberrations, or unclear appearance.
CARAT:
A carat is a unit of weight for precious stones - it indicates the weight and size and is therefore central to the price of the ring. The weight is actually crucial for the price of the stone, and this can be seen by the difference in price when just a few points are reduced from the weight. For instance, a ring weighing 0.95 carats is significantly cheaper than a 1-carat ring.
10ct White Gold 0.95 Carat Diamond Cluster Ring
$899.00
10ct White Gold 0.95 Carat Diamond Cluster Ring… read more
Luminesce Lab Grown 0.95 Carat Diamond Ring in 9ct Yellow Gold
$999.00
$2,999.00
This 9ct yellow gold ring from Luminesce brings you 0.95 carats of lab grown diamonds in a brilliant cut, giving you serious sparkle at a price that makes sense. Lab grown diamonds are real diamonds, sharing the same optical and… read more
14ct White Gold 1 Carat Brilliant Cut Diamond Solitaire Ring in Knife Edge Setting
$2,524.00
This Classic and Timeless 14ct White Gold Solitaire features a dazzling one Carat Diamond set in a 4 Claw setting with knife edge band to give a modern twist.… read more
2. The Halo Hack
A sure-shot way of finding impressive, and yet affordable engagement rings without a large rock stealing the show, is to use a cluster of smaller stones to encircle the centre stone. This can create the illusion of halo engagement rings using a 1/4 carat stone to seem bigger than a 1-carat solitaire ring. The amount saved on the centre stone can be used for the encircling ones, thus making the halo a lot more affordable!
9ct White Gold 1/4 Carat Diamond Halo Solitaire Ring
$599.00
9ct White Gold 1/4 Carat Diamond Halo Solitaire Ring… read more
9ct White Gold 1/3 Carat Diamond Halo Solitaire Ring
$649.00
9ct White Gold 1/3 Carat Diamond Halo Solitaire Ring… read more
Luminesce Lab Grown 1/2 Carat Diamond Oval Halo Ring in 9ct Yellow Gold
$599.00
Luminesce Lab Grown 1/2 Carat Diamond Oval Halo Ring in 9ct Yellow Gold… read more
3. Consider The Metal
Shopping for him? Alternative metals like tungsten, zirconium and stainless steel are popular for men’s engagement rings. They’re tough, scratch-resistant and easy on the budget. Just keep in mind that tungsten and zirconium generally can’t be resized, so double-check his ring size before you buy. Looking for more styles? See our men’s engagement ring ideas.
Forte Tungsten 8mm Ring
$199.00
This beautiful man’s ring has a black dual-tone finish that stands out on his finger. The simple design makes it easy to wear even for a man just beginning to embrace jewellery. Suiting all outfits the minimalist design can be… read more
Luminesce Lab Grown 1/10 Carat Gold Plated& Black Zirconium Diamond Ring
$399.00
Luminesce Lab Grown 1/10 Carat Gold Plated& Black Zirconium Diamond Ring… read more
4. Choose a Gemstone Engagement Ring
Another way to save money on an engagement ring is to opt for a gemstone ring! Not only are they as beautiful as diamond rings, but they’re more affordable and can even feature the birthstone of your significant other – which adds a personal touch! You can find stunning emerald, ruby, opal, aquamarine and pearl engagement rings (and much more!).
9ct Yellow Gold 1.20ct Natural Sapphire and 1/10 Carat Diamond Halo Ring
$499.00
Please contact us regarding special order enquiries for this ring. All ring sizes can be specially ordered, with delivery approximately 6-8 weeks.… read more
Natural Emerald and 1/10 Carat Diamond Ring in 9ct Yellow Gold
$399.00
Natural Emerald and 1/10 Carat Diamond Ring in 9ct Yellow Gold… read more
9ct White Gold 5x3mm Oval 0.21ct Aquamarine and Diamond Ring
$999.00
Ethereal and elegant, this stunning Oval Cut Aquamarine and Diamond Ring oozes beauty and sophistication. Expertly crafted from luxurious 9ct white gold, this ring is sure to have onlookers captivated.… read more
5. Opt for Cubic Zirconia
Want to know how to save money on an engagement ring, but still have that special sparkle of a diamond? Opt for a cubic zirconia as the stone! Cubic zirconia rings look nearly identical to that of diamond rings. At Shiels, there are plenty of cubic zirconia engagement rings in our catalogue, providing a wide range of choices! Having a memorable and eye-catching piece has never come at a better price.
Cubic Zirconia 4 Claw Ring 9ct Yellow Gold
$999.00
Simple and sparkling, this cubic zirconia ring is sure to make a statement. Crafted in 9ct yellow gold. Please contact us regarding special order enquiries for this ring. All ring sizes can be specially ordered, with delivery approximately 10-12 weeks.… read more
Cubic Zirconia Ring in 9ct Yellow Gold
$799.00
This ring has a traditional style with a modern twist. The band hollows in the middle towards the centre to create two beams that meet at the sparkly cubic zirconia centrepiece. The cubic zirconia stone is held in place by… read more
Now you know how to save money on an engagement ring without compromising on style or sparkle, it’s time to get shopping! Shop engagement rings at Shiels today and get free shipping over $69.
More About Engagement Rings:
- How Much To Spend On Engagement Rings
- How To Save For An Engagement Ring
- Engagement Ring Trends By Decade
- What Is Morganite Engagement Ring
- Trend Report: Alternative engagement rings
- What Engagement Ring Style Fits Your Personality?
- The Celebrity Engagement Rings That Stole Our Hearts
FAQs
How can I save money on an engagement ring?
The easiest way to save is to focus your budget on what people actually see. Choose a G–I colour diamond, pick a stone just under a full carat, or try a halo setting. You can also look at lab-grown diamonds, gemstones or cubic zirconia instead of a natural diamond. Each of these can make a big difference to the price without changing how the ring looks on the hand.
How much should I spend on an engagement ring?
Spend what feels comfortable for you, not a set rule like “three months’ salary”. Many couples set a budget first, then choose the cut, carat and metal that fit it. Our guide to how much to spend on an engagement ring and our tips on saving for an engagement ring and wedding bands can help you plan. You can also spread the cost with our finance options.
Which of the 4 Cs matters most for price?
Carat weight usually has the biggest effect on price, and cut has the biggest effect on sparkle. A well-cut diamond can look brighter than a larger one that is poorly cut. Diamonds in the G–I colour range look white once they’re set, but cost noticeably less than D–F stones.
Is a 0.90 carat diamond much cheaper than a 1 carat?
Yes, often by a noticeable amount. Prices tend to jump at “magic” weights like 0.50ct and 1.00ct. A stone just under that mark looks almost the same size to the eye, but often costs much less.
Does a halo setting make a diamond look bigger?
Yes. A halo of small diamonds around the centre stone makes it look larger and adds extra sparkle, so a smaller, more affordable centre stone can look like a bigger one. Browse our halo engagement rings to compare styles.
Are lab-grown diamonds real diamonds?
Yes. Lab-grown diamonds have the same chemical, physical and optical properties as natural diamonds. They usually cost less than a natural diamond of similar size and quality. Learn more in our lab-grown diamond FAQs or shop Luminesce Lab Grown Diamonds.
Is a cubic zirconia engagement ring a good idea?
Cubic zirconia is a good budget choice if you want a diamond look for much less. It is softer than diamond (about 8–8.5 on the Mohs scale, compared with diamond’s 10), so it can scratch and look cloudy over time. Many couples choose it as a placeholder or travel ring. See our best cubic zirconia engagement rings.
Which gemstones are good for an everyday engagement ring?
Sapphire and ruby are the most durable choices, at 9 on the Mohs scale, so they handle daily wear well. Emerald, aquamarine and morganite are beautiful but need a little more care. Opal and pearl are best for gentler wear. Explore more ideas in our guide to alternative engagement rings, or choose your partner’s stone from our birthstone guide.
Is 9ct gold good for an engagement ring?
Yes. 9ct gold is more affordable and harder-wearing than 18ct, because it contains more alloy metals. 18ct has a richer colour and higher gold content, but it scratches more easily. Check your partner’s size with our ring size chart before you buy.
