Wedding rings are a symbol of love and commitment and are of great importance to most couples. But there’s no denying it: wedding rings are a large financial commitment. And it can seem like a difficult task to know where to begin on the search for a great ring. The good news is that there are many options available when it comes to finding affordable, high-quality wedding rings.¹
The Cost of Wedding Rings
The average American couple shells out $5,900 on an engagement ring, while a wedding band averages $1,100 for women and $510 for men.² This is often compounded by the fact that couples typically face several other large expenses around the time of a wedding ring purchase. Wedding costs, moving costs, and sometimes child costs often fall within a few years of the purchase of a wedding ring. Needless to say, it is important to get the best value you can.
How to Find Reasonably Priced Wedding Rings
First, you’ll want to decide the style and material of the ring you plan to buy. If you aren’t sure, it makes sense to search a bit online to find a style you think would suit your significant other best. You can also ask friends, family, or even a consultant for advice.
Next, it’s time to start shopping. Jewelry shops tend to be the best bet, as they naturally carry a large selection of rings. It could be particularly wise to consider shopping online. Online retailers will generally offer a greater selection than what you can find in person, making it easier to find the absolute perfect ring for your partner.
Since online shops don’t have the same overhead costs as in-person shops, it’s more likely you’ll find a better deal. There tends to be a huge amount of competition on the internet, so special offers and promotions are common as well.
If you do find a great ring online, just make sure the store is reputable. You can do this by reading reviews. Reviews are usually easy to find with a simple search, but checking the company’s Facebook or Instagram pages can also be helpful.
More Tips to Save on Rings
If you are really on a budget, consider changing the material you are looking for. Maybe you do not need to buy the more expensive platinum, for example. Some stores also offer synthetic diamond rings. These rings look very similar to real diamonds but can be had for a fraction of the price.
Another good idea is to buy a diamond that is almost the next carat but not quite such as 1.8 carats instead of 2. This can result in big savings.³
Remember to ask married friends, family and loved ones for advice: everyone who has been down the wedding ring journey has a story to tell.
Diamonds Aren’t the Only Choice
Even though diamonds are the classic stones used in a ring, many couples opt for beautiful gems like sapphires and rubies instead. The cost is much lower and they still look great, plus there are many ways to make sure that the gemstones are ethically sourced.⁴
Another increasingly popular option is the crafting website Etsy. Etsy often offers unique, personalized and hand-crafted rings that can be found at great prices.⁵
Combine Ring Shopping
Another good way to bring down prices is to buy your partner’s engagement ring and wedding band together. As is the case in many businesses, when you buy multiple items you can get a lower price and some jewelers will give you a considerable discount on a deal like this.
It’s Time to Get Started
Finding a great wedding ring doesn’t have to be difficult. It may take some time, but for a partner you plan to spend the rest of your life with it is worth it. One of the best ways to get a head start on the path to a great wedding ring is to search online and review the different styles and their price points. With enough research, you should have no problem finding a great style and a shop with good reviews and reasonable prices. Good luck and congratulations on your decision to get married!
[1] https://www.thesimpledollar.com/save-money/cheap-wedding-rings/
[2] https://www.theknot.com/content/how-much-to-spend-on-engagement-ring
[3] https://www.theknot.com/content/engagement-ring-budget-tips
[4] https://www.hkjewellery.co.uk/ethical-gemstones
[5] https://www.etsy.com/