According to a 2020 survey, over 90% of couples posted their engagements on social media. You’ve probably seen a post or two yourself of an elated couple and a close-up of the ring.
But, how much does a diamond ring cost? Before you start planning your proposal, here’s everything you need to know about pricing.
How Much Does a Diamond Ring Cost?
The cost will fluctuate based on what is popularly known as “the 4 c’s“, which are cut, carat, color, and clarity.
Fancier cuts, such as princess, cushion, or heart among others, are less expensive than round cuts.
Carat prices can increase as their weight classification increases.
However, you can save money by adjusting the carat size to fall below the whole and half measures. A 1.4 carat instead of a 1.5, will vary in price but the size difference won’t be noticeable.
Depending on the ring size and the cut, you can make a smaller carat appear bigger. Color is graded on a letter scale with pricier diamonds being almost colorless, and lower quality diamonds having a yellow tint.
Lower clarity indicates a lower cost.
Lastly, custom designs, as well as band preferences, can influence the price. Platinum bands tend to be more expensive than white, yellow, or rose gold.
How Much Should I Be Spending?
A traditional rule of thumb for an engagement ring is 2-3 months salary. It’s important to keep in mind that the ring is only the beginning, and you might want to reserve your money for the rest of the wedding expenses.
I’d suggest having a discussion about your wedding plans before picking out a ring so that you and your partner can outline your expectations. You could even bring your fiancée with you to the jeweler.
Together you can find the perfect ring that fits into your budget.
Alternatives to Diamond Rings
Unfortunately, if you start pre-planning a wedding or asking about ring preferences, it might ruin your surprise popping of the question. So, if you want to propose but don’t have the ring, what can you do?
More men are opting for fake diamond engagement rings and using them as temporary placeholders. It prevents them from buying the wrong kind of ring if they don’t know the design their partner is expecting, but it’s a money saver, too.
If you don’t have the budget for a ring yet, it gives your fiancée something to wear while you continue to save.
Fake diamond engagement rings can be used for more than just the proposal.
Some newlyweds have been using fake diamonds as “vacation rings”. On a honeymoon or other anticipated travel, the real ring is swapped for a fake diamond. This reduces any fear of losing the ring or having it stolen.
Additionally, fake diamonds can be used as flashy accessories for a fun night out.
The Right Ring Awaits You
How much does a diamond ring cost? Truthfully, it’s complicated. Knowing your budget will help you determine which ring preferences are most affordable.
However, if you’re looking for a gorgeous statement piece without the cost, fake diamond engagement rings might be the best choice for you!
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