Buyers Guide

Setting a Budget for Your Engagement Ring: A Comprehensive Guide

Determining the budget for an engagement ring is a crucial step in the buying process. While you may have heard rules like "three months' salary," the reality is that each person's financial situation is unique.

In this chapter, we'll explore 5 steps to help you set a budget that works for you and your partner when shopping for engagement rings.

01

Assess Your Finances

Begin by evaluating your current financial situation. Consider factors such as your income, expenses, savings, and any debts. Having a clear understanding of your finances will help you establish a budget that suits your unique circumstances.

02

Research Engagement Ring Prices

Spend time researching the prices of engagement rings in various styles, settings, and metals. This will give you a better understanding of the market and help you set a budget based on your preferences. TigerStones offers a wide range of customisable rings at different price points, ensuring there's a perfect ring for every budget.

03

Consider Upcoming Expenses

While an engagement ring is a symbol of your commitment, it's crucial to remember that it is just one aspect of your financial journey together. Be mindful of upcoming expenses, such as your wedding, honeymoon, and future plans, as you determine your budget for the ring.

04

Explore Financing Options and Payment Plans

If you'd like to spread out the cost of your moissanite engagement ring, look into financing options and payment plans available at TigerStones. These alternatives can make your dream ring more accessible without compromising your financial stability.

05

Prioritise and Compromise

Create a list of features that are most important to you, such as the gemstone's size, setting style, or metal type. Prioritise your preferences and be willing to compromise on less essential aspects. This will help you find a balance between your ideal ring and your budget.

01

Assess Your Finances

Begin by evaluating your current financial situation. Consider factors such as your income, expenses, savings, and any debts. Having a clear understanding of your finances will help you establish a budget that suits your unique circumstances.

02

Research Engagement Ring Prices

Spend time researching the prices of engagement rings in various styles, settings, and metals. This will give you a better understanding of the market and help you set a budget based on your preferences. TigerStones offers a wide range of customisable rings at different price points, ensuring there's a perfect ring for every budget.

03

Consider Upcoming Expenses

While an engagement ring is a symbol of your commitment, it's crucial to remember that it is just one aspect of your financial journey together. Be mindful of upcoming expenses, such as your wedding, honeymoon, and future plans, as you determine your budget for the ring.

04

Explore Financing Options and Payment Plans

If you'd like to spread out the cost of your moissanite engagement ring, look into financing options and payment plans available at TigerStones. These alternatives can make your dream ring more accessible without compromising your financial stability.

05

Prioritise and Compromise

Create a list of features that are most important to you, such as the gemstone's size, setting style, or metal type. Prioritise your preferences and be willing to compromise on less essential aspects. This will help you find a balance between your ideal ring and your budget.

By setting a well-planned budget, you can approach your engagement ring purchase with confidence and peace of mind, knowing you've made a financially responsible decision that supports your future together.

If you would like some guidance on how we can we can best support you with finding a ring in your budget, feel free to book a consultation with us!

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