9 Creative Hacks to Save Money on Wedding Rings

Are you engaged and looking for practical hacks to save money on wedding rings without—compromising quality?

Finding the right wedding ring can be difficult, but don’t worry, you’re in the right place! We’ll help you find the perfect ring that won’t break your pocketbook.

According to Bride’s American Wedding Study, couples in 2020 spent an average of $3,756 on an engagement ring. This means that some couples were willing to splash out more, and some couples preferred to spend less. That being said, since you’re reading this article, we have a sneaking suspicion that you find yourself in the latter category!

In that case, read on! We have collected all the best tips and tricks to help you find the perfect ring at an affordable price.

Visit Your Local Pawnshop

Buying wedding rings from a pawn shop is a great choice for those who want to save money.

The benefits of buying wedding rings from a pawnshop include the following:

• Cheaper Price

Prices for most rings are lower than those of regular jewelers for two reasons:

First, the items are either used or no longer new. Second-hand items are considered less valuable and are priced accordingly.

This may also include branded jewelry items. Well-known stores charge higher prices because their reputation and packaging add value to the item. Customers are willing to pay more because they equate the brand name with high quality. In pawnshops, however, jewelry is priced according to materials and workmanship, rather than its brand. For this reason, the price for branded jewelry will frequently be lower at a pawnshop than at a jewelry store.

Second, pawn shops usually take on all types of valuables, including precious metals and stones from all over the world. These gems can be reused to make jewelry of original design. And even though this jewelry is handmade, it may be less expensive simply because the gems used to make it are secondhand.

• Premium Ring Quality

A second-hand diamond ring purchased at a pawn shop could have the same quality—or even better quality—than one purchased brand-new. The quality of jewelry is assured by certified professionals who inspect each item to make sure it is in excellent condition. Many pawnshops sell beautiful diamonds and gems marked down to only a fraction of their original price.

• Variety of Inventory

Pawn shops have both vintage and modern jewelry, plus an inventory that is constantly changing. You can sometimes find designs in pawnshops that are no longer available in stores. In fact, you just never know what you are going to find in a pawn shop—and that’s what makes it exciting! The pawn shop’s unique selection and aura of unpredictability can give your blasé shopping experience the feel of a real treasure hunt.

Do-it Yourself

Contrary to popular belief, you don’t have to spend a lot of money on a custom-made ring. The cost primarily depends on the size of the gemstone, the number of stones that are used in its design and other related factors. Creating a custom-made wedding ring is the best of both worlds for those who want to get a trendy, custom design at a much cheaper price than well-known brands.

Consider Alternative Or Cheaper Stones

Choosing a diamond alternative for your ring is much more affordable than buying a real diamond.

Artificial diamonds are a growing trend in the jewelry industry. Currently, there are a variety of diamond alternatives to choose from—all with a beauty and brilliance approaching that of real diamonds. In fact, high quality diamond alternatives may be nearly indistinguishable from real diamonds with the naked eye! The main difference between them is that diamond alternatives are made of synthetic, rather than mined materials. They are also a fraction of the cost, which is great for anyone who wants to go for economy and yet still get the look and feel of real diamonds.

Related: Top 5 Affordable Ring Options For a Tight Budget

Pay In Cash

While cashback rewards are a sweet incentive for using a credit card, you should also check whether the store you’re shopping at offers discounts for paying in cash. To discover the best payment option, it’s a good idea to compare the cash-purchase deal being offered with the rewards you can earn when using your card.

Choose a Smaller Stone

Smaller diamonds are much less expensive than larger ones. If you are looking for good quality at a lower price, consider choosing a smaller diamond surrounded by other faceted gemstones. It might be your best option for a beautiful, but more economical, ring.

Take Advantage Of Sales

Jewelers are always having a sale! Diamond prices fluctuate at least once a month, so keep an eye out for jewelry stores that offer monthly sales. Most jewelry stores also take advantage of holidays and special occasions to offer sales throughout the year. The best thing to do is to keep checking to see if there are any sales that fit your taste and budget!

Use Referrals

Ask your friends and family if they know a good jeweler that they can recommend. Ideally, your friends and family should be able to introduce you and/or help you to contact the jeweler. Giving the jeweler a heads-up about your visit might be a nice gesture, too! Many companies give discounts to their clients for being regular and reliable customers.

If you want to save on a purchase, it is essential to have the right connections!

Avoid The Middleman

Most salespeople (though not all) make commissions, which end up coming out of the purchase price. So, if you’re in the market for a product or service and are looking to lower your costs, avoid the middleman. Go straight to the boss to get the best deal possible.

Stick to your Budget!

If you have a budget in mind, it is vital to figure out what features you want in a ring before you start searching for one. Otherwise, you may get overwhelmed by the variety of choices and end up paying more than you planned. Consider ahead of time the style, type of material, gemstone quality and price-range of your preferred ring. Having a clear idea of what is both desirable and feasible in a ring will pave the way for finding one that is beautiful and yet still within the budget.

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