How to Buy an Engagement Ring When You’re On a Budget

 

used_recycle_ringsI’ve always been a bit of a bargain hunter. I’m the type who can pick up a pair of shoes at a thrift store and then brag about how I only paid $8. But my mom, on the other hand, would always scrunch her nose and make an “Ew!” face at me. “Other people wore those clothes!” she would say. But one man’s trash is another man’s treasure, right? Although a new ring will be ideal, some couples feeling the economic pinch might be forced to think of other options.

We can start first with used engagement rings. OK, so some of you might think used engagement rings are tainted and cheap. An engagement ring is something unique and special to you, not someone’s leftovers, right? But if the economy is really weighing down on your budget and cinching your pockets, you probably have no other choice. Luckily, there are tons of options for couples looking to save a little dough. Some still might frown at the idea, but below is a list ideas for those buying engagement rings on a tight budget:

Go vintage!
Plenty of jewelry stores sell estate or vintage jewelry. The jewelry can range from old heirlooms to flea market gems, and the prices can sometimes be surprisingly cheap.

Reset an old ring
Perhaps you already have an old ring sitting around, or maybe an old heirloom. Resetting an old ring with a new diamond could save you thousands. For example, if you inherited grandma’s old ring, you can reset it for a more modern look, combine it with colored gemstones, or even place more diamonds on the side. The key is to personalize the ring without spending an arm and a leg.

Buy used rings direct
Many divorced couples often find themselves stuck with engagement and wedding rings they no longer want or need, so they sell them at a reasonable price. Sites like I Do Now I Don’t and Ex-Boyfriend Jewelry allow buyers to buy rings directly from the sellers. You could also perhaps use online auction sites like eBay, but be cautious of what you might be getting into.

Get creative
There are lots of ways one can save on a ring. For one, perhaps you can think about buying a smaller mounting, or instead of diamonds buy other stones that are less expensive. Also, there are great deals to be found online, as well as dozens of resources where you can thoroughly research the ring you want. Chances are the more you know about rings, the more likely you are to make a smart and reasonable decision. “The best way to save money is to get educated,” says Diamond Ideals’ Laurent Landau.

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