Wedding ring shopping is equal parts exciting and nerve-wracking. You need to consider the expense, judge the quality, and meet expectations. Here is some information about the average wedding ring cost and some tips to keep it within the budget.
What is the Typical Cost of an Engagement Ring and Wedding Band?
The first consideration is the engagement ring. The average cost of a typical engagement ring is $6000. Expect to spend a bit less on a wedding band. For a wedding band, the average goes from $550 for a men’s wedding band to $1,100 for a women’s wedding band.
Engagement Ring Calculators
Engagement rings are a large investment, and you could use help deciding if all of your expectations are going to line up with your budget. This is where engagement ring calculators come in handy. They gather information about your preset budget and your ring preferences to give an approximate price.
Tips on Saving Money on a Ring
Maybe you found that your choice is in your price range, or you can use some tips to cut the cost a bit.
- Set a well-informed budget and include your insurance. You don’t want the first months of your marriage to be marred by a debt you didn’t consider.
- Know what your partner expects. Think of what ring styles they’ve appreciated, and remember they know you well enough to have realistic expectations.
- Think about heirlooms. Passing on a ring from within the family can be a cheaper and more heartfelt option.
- Shop online. There are markups in jewelry stores. There’s also a larger selection when dealing with online retailers.
- Do your research. One of the easiest ways to overspend is to not know the value of what you’re buying. If you’re shopping for a diamond, familiarize yourself with cut, color, clarity, and carat size. Ask for advice from a trusted source.
- Know the tricks to lower the cost but keep the sparkle. You can do things like buying multiple stones instead of a larger center stone or lower carat size just enough to fool the eye. These are cheaper options that still maintain the look.
- Avoid the holidays up until Valentine’s Day. Like with many other purchases, post-holiday shopping is a cost-effective solution.
How to Buy Wedding Rings Online
You’ve done your research, and you’re ready to buy. Now, look at online retailers for a good value. The trustworthy options will have reviews from real customers who vouch for their value and their policies. An online retailer should be able to verify the diamond’s quality with a certificate too. An online seller advertises independently certified diamonds without a hassle. If you’re uncertain and they’re unwilling to ease concerns with verification, back out while you still can.
Wedding ring shopping is a big endeavor. Approach it with all the knowledge you need for a quality purchase.