7 Tips to Buying An Affordable Engagement Ring in Singapore

This post was originally posted on Planner Bee.

With wedding season around the corner and the wedding bells ringing louder, perhaps you are thinking about the perfect engagement ring. However, with the rising cost of living and inflation, many couples are choosing to be practical instead.

The perfect engagement ring doesn’t necessarily mean you have to break the bank – it can also be wallet-friendly. Here are some tips to help you find an affordable engagement ring in Singapore without compromising on style or sentiment.

1. Set a budget

Ever heard of the three-month salary rule when it comes to purchasing an engagement ring? This is not actually a rule, but a myth perpetuated by clever marketing campaigns. In today’s context, it’s essential to set a realistic budget that you can afford without causing financial strain. Setting a budget allows you to explore options within your means and avoid unnecessary debt.

Pro-tip: __With an engagement ring comes a whole new phase in your life journey. Start tracking your expenses with the Planner Bee app, so you can better budget for what’s ahead, from your wedding, housing, to children.

2. Understand the 4Cs

When shopping for an engagement ring made of diamond, it’s crucial to understand the 4Cs: carat, cut, clarity, and colour. These factors determine the quality and price of the rock. By prioritising certain aspects over others, you can find a beautiful ring that fits your budget. For instance, opting for a diamond with a slightly lower clarity grade can save you money without compromising on appearance.

3. Explore alternative gemstones

Diamonds are not the only option for engagement rings. Alternative gemstones like sapphires, rubies, and emeralds can be just as stunning and often come at a fraction of the cost. These gemstones also offer a unique and personalised touch to your engagement ring. Here are some jewellers that offer such options:

• Temple & Grace
• August Bespoke
• Carrie K.
• GIOIA Fine Jewellery

4. Check out online jewellers

Online jewellers often offer competitive prices compared to brick-and-mortar stores. They have lower overhead costs, which can translate into savings for you. Make sure to read reviews and verify the authenticity of the jeweller before making a purchase.

Some online jewellers include:

• Linjer
• Bespoke by Tessellate

5. Consider man-made diamonds

Man-made or lab-grown diamonds are becoming increasingly popular. They are virtually identical to natural diamonds but come at a lower price. These diamonds are a great option for those who want a classic diamond look without the high cost.

You can take your pick from some of the following jewellers:

• Novita Diamonds
• Zcova
• Michael Trio
• SK Jewellery
• ORRO

6. Think about different ring settings

The setting of the ring can significantly impact its price. Simple settings like solitaire or bezel settings are typically more affordable than intricate designs. Additionally, selecting a more minimalistic design can highlight the gemstone’s beauty without adding more to the bill.

7. Consider pre-owned and vintage rings

Pre-owned and vintage rings can be a treasure trove of unique and affordable options. These rings often come with a history and charm that new rings lack. Check reputable antique stores and online marketplaces for these hidden gems.

Are there alternatives to engagement rings?

Not a fan of engagement rings? Consider breaking free from traditional norms with alternatives instead. Remember that your engagement should be a special one to you and your partner, and there’s no need to adhere to societal norms if you both prefer not to.

In fact, with the rising cost of living, many couples are choosing practical alternatives to traditional engagement rings. Some creative alternatives include:

• A dog: One girl asked her husband for a dog instead of a ring, showcasing a shift towards more meaningful and practical gifts. The best part? The dog will surely bring the couple years of happiness!
• Jellycat engagement ring: A playful and adorable option, some people have proposed with a Jellycat diamond ring – now you can even hug your engagement ring to sleep!
• Promise ring: A promise ring can symbolise commitment without the high cost.
• Family heirloom: Using a family heirloom can add sentimental value and save money.
• Keepsake box: A keepsake box can hold sentimental items and serve as a lasting memory for you to look back on your collective memory together with your partner.

Remember to purchase insurance

Once you find the perfect ring, don’t forget to insure it. Insurance will protect your investment in case of loss, theft, or damage. It’s a small cost that can save you a lot of heartache in the long run.

A symbol of lifetime commitment and love

While an engagement ring symbolises the start of two people’s lives together, finding the perfect engagement ring doesn’t have to cost a fortune. After all, the worth of your relationship should never be measured by the value of your engagement ring, but by the qualities and character of your partner.

By considering these tips, you can find an affordable engagement ring that is both beautiful and meaningful. Remember, it’s the love and commitment behind the ring that truly matter, not the price tag.