Can I buy a diamond engagement ring within my budget?

One of the most special occasions in a couple’s life is their engagement, but this is sometimes weighted down by the pressure on the groom when it comes to choosing an engagement ring for their partner. This is especially apparent when it comes to budget and the concern people might have on not having enough to spend on a nice ring. 

The diamond market has a long and detailed history, with the gemstone now being synonymous with engagement rings. Some partners might prefer to have a different precious gemstone, but tradition dictates that diamonds are the gem of choice for an engagement ring. 

The price of diamonds 

As times have changed, so has the availability of diamond engagement rings to couples with any size budget, no matter how big or small. In the past diamonds were incredibly expensive and out of reach for a lot of grooms, but that no longer needs to be the case. 

There are a broad range of differences in the size and quality of diamonds. When you start researching, you will begin to see the ring prices increasing with the size of the diamond. A bespoke diamond engagement ring might be the best option if you already have an idea of the exact cut of diamond you want. 

Many people experience stress and anxiety over the price tag associated with large diamond rings. Instead of dipping into your overall wedding budget to cover one purchase, there are smart ways to save money when it comes to buying a diamond design engagement ring on a budget. 

One way you could save money is by purchasing a ring that has multiple diamonds equalling the same number of carats. For instance, instead of buying a ring with a singular carat diamond you could get a ring with several smaller diamonds that total one carat. This will likely be less expensive and will still make a gorgeous ring design for your partner. 


Do they want a diamond ring? 

Another way you could potentially save is by finding out if your bride truly wants a diamond for her ring. Even though diamonds are the traditional choice, many women nowadays actually prefer other gems over the “girl’s best friend”. For example, instead of buying a diamond, you could get an emerald, ruby, or sapphire. In some cases, they can be less expensive than diamond, however, they can also be a lot more expensive. It depends on the quality/rarity of the stone. Seeking the advice of a professional like Barabara Tipple can help you make sure you find the right stone for both your partner and your budget.  

Loose stones 

If you know that your partner has their heart set on a diamond, you could look into buying the stone separate from the setting. There are a number of places where you can buy loose stones. When you find the stone you want, you can have it put into a setting of your choice. 

Band quality 

Another way to get a diamond engagement ring within your budget is to find out if your partner has a preference towards the ring quality compared to the gemstone. Some people might prefer to have a platinum band over a bigger diamond. Platinum is incredibly strong and durable, which is a compelling benefit for an engagement ring, even if you need to pay a bit extra for it. 

It won’t bend or get scratched easily, making it a practical option for long-term wear. If you know your soon-to-be fiancée would rather have a higher quality band, you can spend what is required for a metal like platinum and choose a small diamond shape that better suits your budget. 

Final thoughts 

No matter how you decide to stick within your budget, simply taking the time to plan and find a ring that your partner will appreciate shows love, care, and effort. Most of the time, partners are so excited by the event itself, the cost of the ring doesn’t even come into their mind. 

So, to answer the overarching question of this article, yes you can certainly buy a diamond engagement ring within your budget. Barbara Tipple can create a beautiful bespoke engagement ring that meets your budget requirements and ensures your design ideas for the perfect ring are brought to life.  

Contact us by email, phone, or pop into the gallery to see us and discuss your perfect ring vision. We can then book an appointment for a more detailed consultation about your bespoke ring.