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5 Tips to Remember When Saving for an Engagement Ring

With the average cost of an engagement ring rising almost as high as $8000 in recent years, the thought of purchasing one can be daunting.

However, if you’re thinking about that special proposal, you probably want a stunning ring to go along with it — and that means saving.

Not every nice ring has to cost as much as the national average, but it probably will require you to put aside some funds.

When saving for an engagement ring, consider these essential tips to make the process as easy as possible. It may not be as hard as you think after all!

  1. Look at Rings to Decide What You’re Aiming For

Don’t just pick a number like the national average or what you believe a diamond ring costs — look at the kind of rings you want to buy.

Go shopping and when you’ve decided on style and stone, you’ll have a much better idea of what you want to save for.

This is going to be much more effective than blindly guessing a number.

  1. Ask Your Partner What Style They’re Into

It’s important to consider your partner. Some people want their engagement to be a total surprise, but others would like to be included in the process.

The proposal itself can still be a surprise if you ask about the ring in advance. Have a conversation with them, and perhaps you can even take them shopping.

Getting a feel for what they like will help in deciding on the price factor.

  1. Stick to a Budget

When you’ve decided on your budget, it’s important to stick to it as much as possible.

You might get tired of searching and become tempted to put yourself into debt just to have an easier time finding a ring. Don’t!

Keep looking and keep that number in mind. Your perfect ring is out there.

  1. Put Aside an Amount Each Month

If you plan ahead, you can work out exactly how much to put aside each month and how long you’ll have to save for. Doing this means you’ll know exactly when you’ll reach your goal.

It might mean prioritizing your engagement ring over other luxurious purposes, but your monthly savings should also be realistic.

Don’t sacrifice on the occasional date night and eating out. Make your budget work for you, even if it takes a little longer.

  1. Search High and Low for the Perfect Ring

When actually buying, look outside of conventional retail stores. Often the engagement ring prices are marked up.

Online retailers and wholesale jewelry can provide options that are affordable and often more unique than what you will find in retail stores.

Look everywhere you can — the search will be worth it when you find the perfect ring!

Saving for an Engagement Ring May Not Be As Hard as You Think

Saving for an engagement ring may seem like an intimidating task in the beginning but as you start working towards your goal and searching for the perfect ring, you’ll soon see how manageable it can be.

It’ll be so worth it when you propose!

For more jewelry and fashion tips, check out the rest of our blog!

 

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