If you want to buy a breathtakingly beautiful engagement ring, then a diamond ring is the best option. This stone symbolizes everlasting love, and if you want your eternal purchase to be easy on your pocket too, then there are options. To help you save money while buying the best diamond, underlined are a few cost saving tips.

Setting up a budget

Assigning a budget to the amount you intend to spend is a favorable first point. There are many reasons to support this one of them being the sales-push by salesmen who try to sell you an expensive diamond, saying that there is no price on love. However, if you would like to assign a budget and don't know how, there are some budget assigning tips too. The industry also suggests that you go by the baseline of a two months salary. Work out what's comfortable for you, set up a suitable budget and look for a ring that falls within it.

Saving on the store

The store you buy your diamond ring at has a great influence on the price. Many buyers will vouch that a diamond at Tiffany's costs approximately double of a similar stone purchased at any other online store. Also stones at many brick and mortar shops cost higher than stones at online stores. The main reason for this could be the overhead costs associated with brick and mortar shops. Thus while you can touch and feel the stone, you often end up paying for the air conditioning, red carpets, the lovely lighting and that customer service personnel. Buy your engagement rings at online stores if you can. This gives you access a wider range of designs and also helps you save at the same time. also with online tools like Gemisimo's price comparison engine , you can easily compare prices of similar diamonds at different stores.

Saving on the engagement ring

Buying a readymade engagement ring can be more expensive than customizing it. If you select a readymade ring, you will probably be paying the designer's charges also. Instead you can select a stone and get a ring customized as per preset designs. This gives you freedom to choose a stone shape you like, choose the metal you like and also save you a good amount of money.

Saving on the stone

Arming yourself with information on the 4Cs can help you get the most mileage out of your budget for the diamond. You can also save by giving priority to one of the Cs and compromising on the others. For example, if your loved one wants a round brilliant solitaire with great sparkle, choose high grade of cut, a little lesser grade in color and with few inclusions (which can work out cheaper that a stone with no inclusions). Also diamonds of slightly lesser carat weight (for eg 0.9 carats) cost lesser than diamonds of the next carat (1 carat diamonds) while looking the same. Check out the detailed information on Cut , Color , Clarity and Carat weight , to arm yourself with some pointers on how you can save with them.

Saving on the band

Most store owners suggest a metal band of platinum is ideal with diamond rings. While the metal is hypo allergic and strong, it is also quite expensive. You could also opt for the traditional and popular choice of gold, if your spouse is not allergic to it. Silver also looks beautiful and is opted for by many customers. however few feel that silver looks cheap, but then who's going to find out. Do read the section on metal bands to check out shades and options available before you shop.

Saving on time and effort

A little research can go a long way in helping you stay informed, update and prepared while you shop for a diamond. Save on time and effort by gathering useful information on diamonds from a trusted source. Also don't keep shopping for the stone a last minute thing. Try to make your purchase a couple of weeks in advance. This will give the store sufficient time for setting up your ring, custom designing, and engraving or for shipping.

Other aspects to save on

Look out for discounts and offers on offer. Vendors at Gemisimo regularly offer discounts or coupons that can go a long way in helping you save money. Some sites may offer a sizable discount when you buy both the engagement and wedding rings together. You can also consider purchasing a used ring to save money. However do remember to ask for certification from a reputed laboratory. Diamonds that have undergone treatments for clarity enhancement also cost much lesser. Wherever you plan to buy your diamond from, check whether the store is accredited by the Jewelers of America or is a member of the Gemological Institute of America (GIA) or such institutions of repute. Also ask the store about its return policy and for certification from reputed laboratories. You can also get the ring insured for added safety.

While diamonds are expensive they have a heart-melting affect on many women. And in any case, the investment is for a lifetime, so buy with care and caution. With a little planning and budgeting, you can purchase a good stone that costs less, but sparkles as much. If you are still unclear, browse the various topics or information on the 4Cs so that you can make a more informed choice. Experts from Gemisimo are also here just to help make your shopping experience easier and memorable.