Buying an Engagement Ring: 3 Tips to Consider

Are you thinking about taking your relationship to the next level and proposing to your significant other? Choosing the perfect engagement ring that symbolizes a promise, commitment, and devotion is one of the most important decisions you’ll have to make. Below, we’ll walk you through a few tips on things you should consider when buying an engagement ring.

Set Your Budget

The most important factor to take into consideration when picking out an engagement ring is how much you can spend. It’s no secret that the average cost of diamond rings is high, ranging from $3,000 to $7,000 and up. Many people follow the three-month salary rule when figuring out a price range, but it ultimately depends on how much you can afford and what best fits your budget moving into this next phase of life.

If you have other bills to pay, such as student loans, a mortgage, or credit card debt, saving money ahead of time can help you purchase the perfect engagement ring. Start by taking a percentage from every paycheck and putting it into a savings account. If your savings account is combined with your significant other, consider opening a separate account so they can’t see how much you’re putting away. Try to avoid using a credit card if you can. If you’re a homeowner and your partner does not live with you, a safe way to purchase a diamond ring is by utilizing the equity you’ve built up in your home as collateral to borrow money. An equity loan provides borrowers with a lump-sum payment that can be paid back in fixed installments over a predetermined period. This is why setting your budget first is crucial so you know what you can afford and make the best decision for you.

Consider Your Partner’s Lifestyle

Now that you have a set budget in place, it’s time to take a look at your partner’s lifestyle. There’s a lot that goes into selecting the perfect engagement ring. Taste, style, job, and hobbies all play a huge role in the process. If she works in healthcare or a career that requires her to help others all day, you may want to avoid an elevated diamond setting. If she works out or plays sports regularly, consider buying a ring that isn’t as heavy or bold so that she can keep it on while enjoying her physical activity.

While determining what style and color to pick out, don’t be afraid to snoop. Look through her other jewelry to see if she wears more silver or gold. Ask her friends or family for advice (if you can trust them not to tell her) to get a better idea of what she’d like versus going into the jewelry store blindly. You might also want to explore engagement ring ideas on Pinterest for inspiration. Remember, this is something your partner will wear forever so don’t rush the process.

Educate Yourself on Diamonds

After grasping a better understanding of your partner’s lifestyle, you should also take time to learn everything there is to know about diamonds. First, you should know how to judge a diamond. Just because something is shiny and big, that may not mean it’s a quality ring. There are four aspects of diamond quality, also known as the 4Cs, you should look for: cut, color, clarity, and carat. Cut refers to the polish of a diamond coupled with balancing proportions and symmetry to maximize light return. Color is the diamond’s depth of color and how noticeable it is. Clarity refers to the purity of the diamond, and it’s based on the absence or presence of internal characteristics. Lastly, diamonds are sold by carat, which is a unit of weight, not size. The larger the carat, the more expensive the ring is. This will play a significant role in the cost of the ring you pick out!

Along with the 4Cs, you should know that diamonds come in a variety of shapes, including oval, round, emerald, pear, radiant, cushion, marquise, princess, heart, and Asscher. When selecting the shape of the diamond, this is when your partner’s lifestyle can come into play, and a Shane Co. expert jewelry consultant will assist you with finding the perfect center stone for your partner. We only offer the best ethically sourced, conflict-free natural and lab-grown diamonds for you to select from.

Whether you visit us online or find your nearest Shane Co. store, you’ll love the experience of shopping with us.