Buying an engagement ring is one of the most exciting and emotional purchases you’ll ever make.

It symbolises love, commitment, and the start of a new chapter in your life.

But, let's face it—engagement rings can come with hefty price tags.

The good news is that finding a stunning engagement ring on a budget is entirely possible, and it doesn’t mean you have to sacrifice quality or beauty.

This guide will show you how to buy a gorgeous engagement ring without breaking the bank.

Set a Budget and Stick to It

The first and most important step in buying an engagement ring on a budget is knowing exactly how much you're willing to spend.

It’s easy to get swept up in the romance and excitement of the moment, but setting a clear budget will keep you on track.

Some say the "three months' salary" rule is a good guideline, but that advice is outdated and impractical for many people.

Instead, think about what feels comfortable for you and your financial situation.

Engagement rings come in a wide range of prices, and you can easily find something beautiful within your budget if you plan carefully.

Once you’ve set a budget, be disciplined and stick to it, no matter how tempting other options might be.

Choose a Smaller Carat Weight

Diamonds are priced by their carat weight, so choosing a slightly smaller carat can make a significant difference in price.

For example, a 0.9-carat diamond is usually much cheaper than a full 1-carat stone, but to the naked eye, the size difference is hardly noticeable.

Focusing on a well-cut diamond rather than a larger one is a smart move.

A well-cut diamond will reflect light beautifully and appear brilliant, even if it’s smaller in size.

This means you can spend less on carat weight while still getting a dazzling ring. You can check out our diamond selection for a range of carat sizes that fit within your budget.

Explore Alternative Gemstones

Who says an engagement ring has to be a diamond?

There are many alternative gemstones that are just as beautiful, durable, and meaningful.

Sapphires, emeralds, and rubies are classic choices, and they offer a splash of colour that many people love.

If you’re looking for a diamond alternative, consider moissanite—a gemstone that looks almost identical to a diamond but costs significantly less.

These gemstones can be a great way to save money while still getting a ring that’s unique and eye-catching.

Plus, each gemstone comes with its own symbolic meanings, adding an extra layer of sentiment to your ring. For more inspiration, explore fancy coloured diamonds or lab-grown fancy coloured diamonds to make your ring stand out.

Consider Lab-Grown Diamonds

Lab-grown diamonds have become increasingly popular, especially for those looking to balance luxury with affordability.

They are chemically identical to natural diamonds, offering the same sparkle and durability, but at a much lower price—sometimes up to 40% cheaper than their natural counterparts.

Many people still have misconceptions about lab-grown diamonds, but the reality is that they offer incredible value for money.

Whether you're looking for a diamond with a higher carat weight or a more affordable option, lab-grown diamonds are worth considering.

Focus on Diamond Shape and Cut

While the classic round diamond is the most popular, it’s also the most expensive.

If you’re open to exploring other shapes, you can find a ring that’s both beautiful and budget-friendly.

Oval, pear, and marquise diamonds tend to cost less per carat but still offer a lot of brilliance and sparkle.

Remember, the cut of the diamond is more important than any other factor when it comes to how dazzling it looks.

A well-cut diamond will shine brilliantly, even if it’s smaller or of lower clarity. Prioritise the diamond's cut and shape to maximise its appearance without inflating the cost. You can explore our pear-shaped diamonds, oval-shaped diamonds, or marquise diamonds for affordable yet stunning options.

Opt for Affordable Metal Choices

The type of metal you choose for the ring’s band can also impact the price.

Platinum is the most expensive option, but you can get the same look and durability with 18k white gold, yellow gold, or even palladium, which are all much more affordable.

If you're on a tight budget, 14k gold is another fantastic option.

It's durable and classic, but costs less than higher-carat gold.

By choosing a more affordable metal, you can significantly reduce the overall cost of the engagement ring.

Buy from Online Retailers

Shopping for an engagement ring online can save you a lot of money.

Online jewellers typically have lower overhead costs than traditional brick-and-mortar stores, which means they can offer more competitive prices.

When shopping online, take your time to read reviews, research the jeweller, and ensure they offer certifications for their diamonds.

Look out for online promotions or holiday sales, which can further reduce the price.

Many online retailers also offer free resizing, engraving, or other perks that help stretch your budget even further.

Customise the Ring for a Unique Look

Customising your engagement ring doesn’t have to be expensive.

In fact, creating a personalised design can often be more affordable than buying a ready-made ring.

Whether it’s choosing a unique setting, adding engraving, or incorporating small side stones, personal touches can make the ring feel truly special without costing a fortune.

Look for jewellers who specialise in custom designs, as they may be more open to working with your budget.

A custom ring allows you to get something unique that perfectly reflects your partner’s style and personality.