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Engagement ring budget considerations

Diamond engagement ring guide

 

The purchase of a diamond ring is perfect way to express your enduring commitment and desire to spend the rest of your life with your one true love. It is the ultimate symbol to mark the start of your Forever journey together. And whilst the amount you spend doesn’t reflect the significance of the purchase, it goes without saying that having a budget in mind is one of the most helpful factors to have in mind before embarking on the process of buying an engagement ring. This is an entirely personal decision based on affordability and your other priorities in life.

To decide how much to spend on a ring, start by weighing up your financial situation and setting a budget that you can realistically afford. The cost of a diamond ring can vary greatly, so make sure that the amount you decide to spend reflects the value of this symbol of commitment, whilst not incurring excessive debt at the start of your married life together. If you do decide to go for a finance option, ensure you are comfortable with the monthly repayments on top of your other regular outgoings. Remember to consider other milestone costs that may be coming up, such as a deposit for a home, or, of course, your wedding day! 

Whatever you decide your engagement ring budget should be, it is the meaning behind your purchase that is the most important thing. Diamonds go on incredible journeys of their own, originating billions of years ago, before being polished and set in a ring. Remember you are buying not only an exquisitely beautiful object for your one love, but a talisman of eternal love: a future family heirloom for generations to come. 

Other things to think about

Maximise your budget by considering your ring’s metal type. For example, is white gold an option instead of platinum? Also be educated on the 4Cs. The best cuts maximise a diamond’s sparkle. This may reduce the need for larger caratage or size, which can be more expensive.

Engagement ring prices vary. It’s a good idea to do some detective work to understand your partner’s expectations. Try casually window shopping and ask which styles they like. For example, are they into showstopper diamonds, or do they prefer more subtle alternatives?

Asking close friends is a great idea too, as they will probably have an idea of the sort of engagement ring your partner would wish for, based on the style of jewellery they like.


Diamond engagement ring checklist

Download our handy printable checklist to ensure you have everything you need before you visit your jewellers.

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Beyond the 4Cs

Throughout history, diamonds have dazzled and amazed. At Forevermark, we individually select diamonds against additional rigid criteria to ensure that only the most beautiful diamonds can become Forevermark.

Forever Guides

Sometimes a little help along the way is needed. From choosing the right ring size, to the perfect diamond engagement ring, or just simply how to care for your diamond; be inspired.