4 Tips for Saving up for an Engagement Ring

After you’ve found that special person that you want to spend the rest of your life with, the next step is getting engaged. Congratulations! 

This is a major step in life, and the expenses associated with it are pretty big too. If you’re planning to purchase an engagement ring soon, follow these 4 tips to help you save up: 

Do Plenty of Research

Just like buying a new car, you should begin your shopping journey with research, and plenty of it. 

There are lots of factors which influence the price of an engagement ring, including the size, gemstone, style, and material of the band. Discovering what features are most important to you and your soon-to-be fiance will help you make the most economical choice. 

Another important factor to consider is where you purchase it. Not all jewelry stores are created equal. Unscrupulous sellers may try to upsell you, so shop around until you find the best available price.

Go Cheap on Dates

While you’re saving up to surprise that special someone, you may have to refrain from other expensive gestures. Fancy dinners, large gifts, and getaway vacations will have to wait.

Instead, think of creative but cheap ideas that you can enjoy together. This might include hiking, a romantic home-cooked dinner, or a picnic. Visiting events that are open to the public, such as an art fair, is another good way to maintain the romance while you save. 

Put Away a Little at a Time

The price tag on that new engagement ring might look intimidating, but remember that all big numbers are made up of smaller ones. By putting away just a little bit at a time, you will be able to keep living comfortably and watch your savings account grow. 

How much you save will depend on your income and expenses. It might be saving every $5 bill you receive, or $100 off every paycheck. Whatever amount you determine to be plausible for your unique situation, stick with it. 

In just a couple of months, you’ll be surprised by how much money you were able to save without even realizing it!

Consider Financing Options

Many jewelry stores offer financing options for engagement rings. This can reduce the wait time by allowing you to pay in delayed installments. 

Once again, it’s important to weigh your options to ensure you’re receiving the best deal. Beware of high interest rates and payment plans that seem too good to be true. Always read the fine print before you sign anything, and be realistic about what you can afford. 

With these tips in mind, you can make the best investment for your budget and your relationship!

Custom Jewelry & Engagement Rings in Frederick, MD

Here at Gold Thumb Jewelry, we understand the importance of purchasing the perfect engagement ring. That’s why we offer a wide array of beautiful options and trusted financing through Wells Fargo. And if you can’t find what you’re looking for, we also offer customization services!

Since 1979, we have provided the very best jewelry services in Frederick, Maryland, and the surrounding areas. Call now to learn more!