Beige Minimalist Sweet Memories With Lover Photo Collage - 1

Do Couples Pay For Engagement Rings Together?

Modern couples and new concepts of love are all about breaking the stereotypes. There are no hard and fast obligations to anything, and we are all up for them. Sometimes, it is good to break some rules and make the process smoother for your partner. One of them is, who buys the engagement ring?

There is no compulsion that the person who proposes first has to shell out all the money. In fact, the moment is equally significant for both individuals, and so should the process be.

It is a misconception that discussing the budget and taking away the element of surprise ends the charm. Today’s post is all about budgeting for your engagement rings. Also, we have included some of our all-time favorite suggestions for cheap engagement rings to help you.

Couples that go out and make a team purchase are more likely to be satisfied with their decisions. It should be a no-brainer because it is a big buy that has to symbolize love and intimacy, not stress and debt.

The Dos and Don’ts of Engagement Rings

You and your significant other have finally sat down to decide on the big purchase. Here is a list of basic Dos and Don’ts not to be forgotten:

1.   Make a Decision Keeping Your Lifestyle in Consideration

A fancy ring looks beautiful, but if your partner is outdoorsy, it would not be a perfect choice for them. Therefore, it is extremely necessary to pick bands for each other, keeping your lifestyle in mind. A couple that puts their hard-earned money into the engagement rings should get the most out of it.

2.   The Ring Should Suit Your Style

An affordable vintage engagement ring sets you apart from others, often for less money than a new ring. If you and your partner have an eye for old-school things, you should consider buying such rings.

3.   Choose a Ring that Reflects Your Shared Values

At any given point in time, there are fashion trends that keep coming and going. Try not to follow them blindly because engagement rings are intimate. They should represent your couple, the shared bond, values, and morals.

4.   Go for Something Durable and Long lasting

Engagement rings are something most people wear every day for the rest of their lives. One can only imagine the amount of wear and tear they face throughout their lifetime. Here is another reason why not to follow what is trending. Instead, invest your resources in something that lasts as long as your love.

5.   Do not let any Offers Impress You

A lot of people we know have fallen for monthly payment plans by big mall chain stores. Buying rings using credit is a wise option only if you both are ready to pay in on time. So, discuss among yourselves and only then opt for this pre-wedding debt.

6.   Do not proceed without Guidance

Unless you or your partner have ample knowledge of the gems, do not purchase a ring without doing your research. You can ask friends for referrals or seek professional guidance before making a final choice.

Affordable Engagement Rings that You and Your Partner Can Buy

Do Couples Pay For Engagement Rings Together 2

Most of the time, rare gemstones cost a fortune. But sometimes, beautiful but rare gems are little known. Due to this, there is no consumer demand that jacks up their prices. An out-of-the-ordinary stone at a great price is a dream for couples looking for affordable engagement rings. We have rounded up a list of rare engagement rings to fit your budget.

1.   Imperial Topaz Rings for Engagement

Imperial Topaz is a classy stone with a medium reddish-orange tone to orange-red color. Some traders believe they can include yellowish orange, orangey yellow, or yellow with a reddish hue.

Back in the day, the Ural Mountains of Russia were the top source of Imperial Topaz. The royals of Russia loved them so much that they made them their thing. No one other than the royal family was allowed to use the stone, hence the name ‘imperial.’

These sleek gemstones have ‘royalty’ written all over them. It may feel to present your love with such a stone, which was once restricted to the royals only.

2.   Affordable Moissanite Engagement Rings

In the past few years, people have started looking for alternatives to diamond rings instead of buying real ones. This approach has made several stones popular, and now they are in more demand than ever.

Do Couples Pay For Engagement Rings Together 3

A moissanite ring is one of the affordable engagement rings that you can pick for your loved one as an alternative to diamonds. For most people, they are hard to differentiate from diamonds, and they come for a fraction of the price of the latter.

Besides, they are the second hardest gemstones used in jewelry today. Their durability and sturdiness make them an excellent choice.

Above all, they are clear and thus highly versatile. Their amazing sparkle is really hard to get with even the most high-quality diamonds. They can also be grown in labs, just like diamonds.

3.   Unique Kunzite Proposal Rings

Are you looking for a minimalistic proposal ring that is classy and represents tenderness at the same time? You might not find a better option than a beautiful light pink or violet-purple Kunzite stone.

Most collectors in the U.S. and Japan prize Kunzites as display pieces, but they make stunning jewelry stones. They make beautiful cuts and are available in large sizes at affordable rates. Their value depends on the color and clarity; the more intense the color, the more valuable the kunzite.

Known as the midnight stones, Kunzites cannot bear strong light or heat. They are delicate and can lose their sparkle, which makes them high maintenance.

4.   Rare Spinel Rings for Proposals

Natural spinels are one of the rarest gemstones to find; you would not find them at an average jewelry store. It is a good thing because most consumers do not know about them, so their prices are not ridiculously high.

If your jeweler can find them, you should consider them as one of your options for affordable engagement rings.

They may come in different colors, but the most vivid are red ones. People might often mistake them for rubies because of the way they glow. You might not find them over two-carat sizes since they are hard to find. Their durability and sparkle make them an excellent choice for a proposal ring.

5.   Affordable Moldavite Engagement Rings

What to gift your love that is rare and out of this world? Probably, an extraterrestrial glass formed due to an asteroid impact 150 million years back.

Moldavite, a yellowish-green to greenish-brown gem, is popular both as display specimens and jewelry stones. But beware because some dealers face imitation moldavite from green glass bottles.

Apart from being rare, another thing you need to know about moldavites is that they are brittle. Therefore, if you plan to mount this on your engagement band, use a setting that protects it. A bezel setting is preferable, as it encases the stone from all sides.

Are there any Affordable Diamond Rings?

If your significant other likes diamonds and you want to make it happen, there is a way around that. After all, the heart wants what it wants, and you must listen to the heart you love.

Diamonds are a classic choice for engagement rings and proposal bands, but they are expensive. If you and your partner have decided to pay for the rings together, it would be easier to afford them.

Saving some extra money does not hurt anyone; in fact, it covers your unforeseeable expenses. For that, couples should consider exchanging lab-created diamond rings. They are almost impossible to differentiate from the rings created with mined diamonds.

They are sustainable, durable, sparkling, and ethical choices among your options for affordable engagement rings. Above all, they take a few weeks to grow in the lab and cost almost half the price of natural diamond jewelry.

How to Set a Budget for the Ring?

If your eyes glaze when you hear the phrase “proposal ring budget,” you are not the only one. The greatest mathematicians tend to get confused when setting up a budget for engagement rings. Let us tell you a little secret; budgeting is way easier than you think.

For many couples, buying something as costly and emotionally priceless can be a first experience with a significant purchase. Identifying the budget beforehand helps you avoid disagreements and unnecessary arguments later.

If you want to opt for a payment plan, figure out what is feasible for you for 6 to 12 months. Then, add that to the down payment you have set aside. Knowing this figure will help you keep an eye on your budget as you make a purchase.

Step 1: Track Your Finances

Budgeting is always the first step, even if you are looking for less fancy and affordable engagement rings. For that purpose, collect all your income records. This includes your take-home pay, interest on any investments, and money you regularly receive from any other source. Note down all of your assets on paper or a spreadsheet.

Next, make a list of all your expenditures, including rent, utilities, credit card payments, car expenses, internet, cell phone payments, etc. Do not forget to include variable expenses, like gifts, dining out, entertainment, investments, or savings.

Step 2: See Where You Can Cut Down

Compare your expenses against your income to get an idea of where you stand. A rough figure will help you narrow down your options for affordable, unique engagement rings. If your expenses exceed your income or you want to buy something fancy, you might want to cut expenditures down.

Start setting some money aside little by little in your ‘engagement ring fund.’ The earlier you do this, the better it is. However, it is never a one-time thing; you must do it every month. The expenses might vary from time to time, and you might not want to end up in a complication.

Step 4: Spend What Feels Comfortable

We all are familiar with the three-month salary or four-month salary rule. It addresses your gross income and not what you actually bring home. Besides, it is one of the most unrealistic rules that does not consider the uniqueness of every person’s financial situation.

If you do some math, a three-month salary is a quarter of your yearly income! In addition to your engagement ring expenses, you will have to make room for wedding and honeymoon costs in the future. Therefore, budget wisely and spend only where it feels comfortable.

Step 3: Choose Your Mode of Payment

The last step is to choose how to pay for your proposal ring. If you are confident that you can save, that is the best. But if you want some other way around it, you can use a combination of credit and savings.

If you plan to purchase the ring using a credit or a combination of savings and credit, ask your partner whether they agree. Do not assume already because the payments might continue into the marriage.

Many jewelers also have plans with better rates than your credit card company. So, check if a credit program is available at the jewelry store of your preference. Some of them have offers that let you pay without additional interest as long as you agree to their terms and conditions.

Choosing the Best Engagement Ring Together

Sure, surprising your lover with a planned proposal is great. But taking budget cues and learning about their values can go a long way. The moment you pop up the question with the ring your partner chooses for themselves can be as special as a surprise proposal.

However, if your significant other loves surprises, we have an idea for that. You can get a temporary proposal ring and ace the surprise. Afterward, go and shop for the actual one together or get it customized to your liking.

This way, your proposal will be a stress-free surprise, and your partner will get the ring of their choice; win, win.