Is your budget low? Consider affordable diamond engagement rings
Don’t feel pressured, affordable diamond engagement rings could just be the thing for you…we all can’t be wealth!!
Having said that, I would like to point out that affordable is very relative.
What you term as affordable diamond rings could be out of reach for someone else. In the same way, what is affordable to you could be termed as cheap by someone else.
When De-beers started marketing diamonds after the war in 1947 following a weak wartime market, they realized that if you saved 2 months salary, you could afford to buy a diamond ring.
I don’t think that is true anymore!
If we agree that your earnings determine your budget, then a company accountant earning $25,000 a month won’t have to save for more than a month to buy an amazing diamond ring.
A factory worker earning $3,000 a month will have to save for 2 to 3 months and still won’t be able to afford what the accountant can.
The other extreme is if you are unemployed and with very little extra income, then you won’t be able to afford any rings, leave alone diamond ones.
I will work with a figure of $1,500 as being our benchmark and all rings below that value to be affordable based on the average diamond price.
Diamond rings around this price range are the most widely bought and it seems that most people are comfortable with this price range.
This is what shopping should be all about…what is comfortable for you not what I or anyone else tells you to spend!!
Any diamond ring below $1,000 will mean that you will have to compromise in any one of the 4Cs i.e. Carat, color, clarity and cut.
You will also most likely compromise on the diamond ring settings in order to stay within budget.
Let’s start with the carat or the size of the diamond.
A general rule of thumb even though it is not set in stone is that big diamonds are more expensive than smaller ones as long as the color, clarity and cut are kept the same.
This means that as you shop for affordable diamond engagement rings, you may have to get a smaller diamond than you might have wished for.
When it comes to the color, clarity and cut of the diamond, depending on how low you want to go below the $1,000 mark, you will have to go for lower qualities in order to make a saving.
You will also be limited in your choice of diamond cut.
This is because the most popular diamond cut is the round cut; thus most affordable diamond rings will have round diamonds on them.
This is because it is the basic diamond cut taught thus most major diamond cutting centers worldwide e.g. India and Bangkok can have many cutters churning out round diamonds cheaply.
Finally, let’s look at the diamond setting metal.
You might have to opt for 9 or 14 carat gold…this could be either yellow or white gold as the price difference between them is low. Silver could also be an option for you.
So there you have it. Look at your budget, visit some reputable online stores and compare prices and then get buying you affordable diamond engagement rings knowing you got the best you can afford.