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Ways to save when buying an engagement ring

There is a multitude of things to consider when looking to purchase an engagement ring. With so much information on the internet, deciding on which ring to purchase alone can be an overwhelming task, even without considering the budget. Here at SH Jewellery, we understand that it can be difficult to shop for an engagement ring on a budget. That’s why we’ve formulated a list of 8 tips and tricks to help you give your partner the ring that they deserve while sticking to your budget. 

1. Don’t go over your limit

It’s easy to want to throw your budget out the window when you are flooded with countless options of engagement rings. It can always be a challenging task deciding between your budget and what kind of ring you think your partner deserves.

At the end of the day your partner will appreciate whatever kind of ring you decide to purchase them. With this in mind, it is important to set a maximum budget and be sure not to exceed your limit. In order to do this realistically, make sure to have a browse on the web to see what the average price of a ring is and set your budget accordingly. Being sure to only spend what you’re comfortable with.

2. It’s all about the strategy

Looking for a larger stoned ring can be daunting, especially if the price is outside of your budget. Not to worry though! You can actually create the illusion of adding additional carats to a ring by choosing a halo style. A halo setting is a circle of smaller stones around the centre stone. By choosing a halo setting, it will give off the illusion of a larger stone in the middle without breaking your budget.


3. Less metal = Lower cost

Less metal generally means a lower cost. By choosing a minimal prong setting over a bezel one, you can reduce the amount of metal on any ring. In addition to a lower price, choosing a prong setting is a great way to highlight the diamond and make it appear larger than it actually is.

4. Consider your alternatives

It’s always difficult to settle for something other than what you’ve envisaged, especially if your ring taste is the same as Beyoncé’s but your budget isn’t quite. Good news is, there’s an alternative way to recreate that distinctive ‘crushed ice’ look to an engagement ring without breaking the bank. Pavé diamonds are the way to go. Pavé diamonds are small, beautiful stones that are far more common and therefore less expensive than your typical diamond. An alternative to your standard diamond ring could be to purchase a slightly smaller centre stone and then line the band in pavé diamonds. This effect will have the same sparkle as any other large diamond for a fraction of the price.



 5. Sacrifice the size

It’s easy to get lost in all the numbers involved when purchasing an engagement ring. From price, to size, to the number of stones, it’s easy to get lost in it all. When it comes to carats, it’s amazing just how much a little difference is able to make a big one when it comes to cost.

With diamond prices jumping disproportionately from carats to half-carats, buying just shy of a carat can save you more than you think. For instance, instead of buying 2 carats, buying 1.8 will save you nearly 20 percent! With the smallest change to the carat size, the ring will still give off the same stunning effect where the carat difference will hardly be noticeable.

 6. Spot the difference

Similar to carat size, you can also afford to compromise on clarity. Naturally, the clearer the diamond, the more expensive it will be. We understand here at SH Jewellery that it would be amazing to buy your partner the clearest diamond possible but in reality, they probably wouldn’t even be able to spot the difference if you didn’t. In saying that, buying a diamond that’s a little short from perfect will perform just as well and won’t even be noticeable to the naked eye.



7. Go for gold

When shopping for an engagement ring, you’ve probably heard that platinum is the way to go - and for many reasons, it is a great choice. Durable, fade resistant, and naturally polished, you can’t really go wrong. However, all those desirable qualities come with a higher cost. Now, if you’ve come to this blog then it’s safe to assume that choosing platinum might not quite be in your ideal price range. Luckily, there is another way to still get those ideal attributes just at a lower cost. White gold still offers that same style and feel, while still being resistant to rust, corrosion and tarnish. Having most of the properties you’d like from platinum, white gold is an easy choice when it comes to saving and keeping to your desired style.

8. Finally, it takes two

Full disclaimer, this tip might not work if you want it to be a surprise. However, if you and your fiancé-to-be aren’t fussed, then why not shop for the rings together? There are multiple benefits from doing this, one being that they can choose a style that they actually want. The second being it might be a fun activity to do together. With the final benefit being that you may even be able to save by doing so. Getting a deal when purchasing the engagement ring and wedding band at the same time is a possibility. With the added convenience of killing two birds with one stone, saving money on buying a set could be the way to go.




At the end of the day, the ring is the first step to officialising the start of your lives together. Regardless of price, your partner will appreciate any engagement ring you get them. It’s important not to overthink it and go with what feels comfortable for you. With these eight tips in mind, you’ll be sure to find the perfect engagement ring for a reasonable price!

Need help finding the ideal engagement ring?

Our friendly sales team have many years of experience and can help you find the perfect ring for your loved one. Simply visit our SH Showroom in Springvale and take advantage of a free consultation to discuss your jewellery and diamond requirements. However, so that we can better serve you, we recommend that you book an appointment for your consultation, especially for weekend times.

Book your appointment now

Alternatively, contact our team, or shop our collection of engagement rings online today.