• An engagement ring may be one of the most important pieces of jewelry you will ever buy or own—and one of the most expensive purchases you will ever make. Cheap engagement rings can be had, however, if you are willing to shop around. Prices will vary depending on the type of setting you choose and the quality of the diamond or other gemstone in the ring.

• Fast Facts

  1. Many online retailers offer cheap or significantly discounted engagement rings
  2. Give yourself time to comparison shop
  3. Find out the design or designs your fiance likes before you start shopping
  4. Be sure to find out a store's return policy, in case your fiance doesn't like your choiceMerchant Circle: How to Buy Cheap Engagement Rings
  5. Determine your budget and stick to it when shopping
  6. Diamonds under one carat, even slightly, can cost significantly lessMerchant Circle: How to Buy Cheap Engagement Rings
  7. Diamonds, while traditional and often expensive, are not the only gemstone that can be used in an engagement ring
  8. Look for jewelry sales at local retailers and check out estate sales

• Shopping Tips

  Keep in mind when you are shopping for an inexpensive engagement ring that prices will depend on what kind of material is used in the ring, including a diamond. Diamonds are judged based on the so-called four C's: carat, cut, clarity and color. The larger the diamond, the more expensive it may be—depending on the color and clarity of the gem. A platinum ring may cost significantly more than one made of yellow or white gold.TheKnot.com: Engagement Rings: 8 Insider Shopping Tips

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