Saving money on an engagement ring

The price is important when buying a ring

Things to considering when purchasing an engagement ring if money IS an object:

Saving money on expensive purchases

Aside from buying a house or a car, an engagement ring is one of the most expensive purchases for a one off item. The good thing is that if done right (hopefully) it will last a life time. The following are a few tips when it comes to buying an engagement ring:

1) there are differing views as to how much to spend on an engagement ring - one month, two months or three months income; is it net or gross? The answer is that you should only spend an amount that you are comfortable with and that you can afford. For those of you wondering, I spent just under 2 months net salary, but this shouldn't influence your decision

2) Never borrow or take on debt to pay for an engagement ring. Either save for a little longer or buy a cheaper ring

3) you don't need to THE ring to propose. You can propose with a dummy ring and then save up for the actual ring. I bought a fake ring from Amazon that my fiancĂ© wore for 5 months prior to her receiving the actual ring 

4) there is nothing stopping you from upgrading the ring in the future

5) have an open discussion with your partner/ partner-to-be about what is affordable

6) have a budget and stick to it

7) when discussing your price range with jewellers always state that your upper limit is one third below the actual upper limit. Jewellers will always add extra for setting, metal type and so it's best to come in under budget and allow yourself to be negotiated up - this way there are no surprises

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