If you have began your search for an engagement ring you have probably noticed some pretty big price tags, some may have even put a bit of a scare into you. You may be familiar with the guideline of spending two months salary on an engagement ring, but sometimes this isn't feasible. What if you can't afford that

Consider Your Circumstances

If you can save enough to pay for the ring in cash it will keep you from being tied to a monthly payment and from paying interest on the loan which will make the ring even more expensive. Financing a ring that you can't really afford in the first place can cause more problems down the road.

Sometimes buying a less expensive ring, a budget engagement ring, will allow you to use the money you saved on other important things like a down payment on a home or even a dream honeymoon. Not all women want a big, flashy diamond. Some prefer a simple band. Make sure you know what she prefers before you start shopping for something more expensive.

Affordable Options

Luckily it is possible to find an affordable engagement ring. With a few simple tips you can lower the price but still buy a nice piece of jewelry for this important occasion.

The solitaire is a classic option, but this style puts a lot of focus on the single diamond that is set in the band. To help keep the cost down on this style of engagement ring look for a diamond that is slightly less than the next carat weight, for example look for a .8 or .9 instead of a full carat. The difference isn't noticeable with the naked eye. If this is still too expensive get a smaller carat.

When trying to save money focus on the cut and color of the diamond and put less emphasis on the clarity, as a good cut and color will likely make the diamond look more expensive that it actually was. When choosing a metal go with gold or white gold instead of platinum.

Another option is to get a ring with multiple small diamonds instead of one larger diamond. The smaller stones are more affordable because they are more common.

Even though you may not buy an expensive ring you might want to consider buying engagement ring insurance. After all this is still a significant and sentimental purchase. One you likely want protected.