How to Save Money on A Diamond Engagement Ring

Asian couple with a James Allen cushion cut engagement ring in front of a flocked Christmas tree
This post is in partnership with JamesAllen.com | All opinions are my own

Engagement season is upon us! Johnny and I share quite a bit about finance when it comes to our home, how we saved for it, saving for the future, heck saving in general! We’re so excited to team up with JamesAllen.com to share how to save money on a diamond engagement ring. Diamonds are expensive and engagement rings can be pricy, so we are here to help you get the most for your money. If you must know numbers, according to TheKnot, the national average spent on an engagement ring in 2019 was $5,900.

Johnny always says, it’s not about how much you pay, it’s about the value you get! At the end of the day, the ring is a tangible item. It’s your love, commitment and your future marriage that’s truly important. Please don’t go into debt buying a ring you cannot afford. It’s also not entirely ideal to start a marriage paying off the ring. If there’s something else you two would rather do with the money such as buy a house, start a business, take a longer honeymoon, do it!

Now, let’s chat about how to money on a diamond engagement ring!

James Allen cushion cut engagement ring with a halo ring setting

Going for the Hallowed Halo

I have JamesAllen.com’s falling edge halo ring in platinum and it is exquisite. I love how it has pave diamonds on the sides, not just the top for a truly gorgeous profile from all angles. I’ve always wanted a halo for as long as I can remember. It’s also a great way to save money on a diamond engagement ring. It adds to the diamond, making it appear larger. I personally wouldn’t recommend getting more than a double halo to help boost size.

Get 99% of the Value & Sizeable Savings

You’ll hear many people obsess over carat size. Johnny and I never really believed in that. Go for what is flattering and fits your lifestyle. I don’t take my ring off often and I use my hands a ton, so having something that frankly, doesn’t always get in the way was very important to us. Please don’t let society pressure you into spending more than you can afford.

A great way to save money on a diamond engagement ring is to go right underneath the carat mark. So for example, instead of getting a 1-carat diamond, opt for .99 carats. These diamonds that are slightly off the traditional marks can save you a lot of money and not noticeable to the naked eye!

Cushion cut diamond engagement ring with a cup of coffee by James Allen

The Other All-Stars

Technology and science is incredibly and so are lab-created diamonds. They are also usually 30 percent more affordable. That is a huge amount of savings! To be clear, the only difference between a lab-created diamond and an earth-created diamond is where they are formed. That’s it. There’s no need to dig for diamonds since we can re-create the extreme conditions necessary to create diamonds in a lab.

Lab-created diamonds have unique characteristics like earth-created diamonds, including inclusions and clarity. Fully grown, they are cut into a shape that best shows off their qualities. The reason the cost is lower is because it costs less to grow a diamond in a lab than to mine it from the Earth. This also means you can get 30 percent more diamond for the same price!

Straight to the Source

We can buy practically anything online now, so why not a diamond? A great way to save money on a diamond engagement ring is to buy it online from a retailer such as JamesAllen.com. You can save up to 50 percent versus going to a regular jeweler. I personally love online shopping more than in person because I can see everything that’s available. JamesAllen.com has more than 200,000 conflict-free diamonds available for you to look at. Plus, the 360° Diamond Display Technology lets you see the ring from literally any angle!

When you’re shopping online, you don’t have a sales associate who could potentially pressure you into spending more. Plus, you can truly customize your ring. If you need assistance, JamesAllen.com has diamond consultants who can help you find the perfect diamond and ring. Johnny chatted with Lorraine and she did not steer him wrong!

Prioritize the Wants

Everyone is unique. We have different desires, personalities and traits. What we want in a diamond reflects that. One way to save money on a diamond engagement ring is prioritizing what is really important to the person who is going to wear it. Does she want super high clarity so you can see the sparkle for days? Or does she focus more on color so it doesn’t lean too yellow? Perhaps she’s most focused on carat. By zeroing in on what matters most, you can save money on a diamond engagement ring.

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