1. Choose Alternative Gems
Instead of going for a pure diamond, use alternative stones like moissanite, white sapphire, or cultured diamonds; these are just as beautiful, yet way more affordable.
2. Buy Pre-Owned or Vintage
Antique and cheap engagement rings are other unique alternatives which are cheaper too. Most jewelers and online retailers sell good-quality, pre-owned rings for a fraction of the price a new one costs.
3. Go Simple Setting
The price can also be influenced by how the setting is done. The simpler the setting, the less it will cost but does not necessarily have to be less fashionable and classy.
4. Shop Online
Online stores usually have fewer overhead expenses than B&M shops and are often able to pass on the saving to customers when selling engagement rings.
5. Consider Financing
Some jewelers also offer financing or layaway, which lets you pay for the ring in monthly installments rather than borrowing all of the money at once.