Posted on April 2nd, 2012 · Posted in Custom Jewelry, Engagement Rings

In these economic times we are looking to cut costs wherever possible. Prices of necessities including groceries and gas are on the rise. Gold is also on the rise which may cause some hesitation if you are thinking about buying some jewelry or even proposing to that special someone.

Cutting costs on groceries can be as easy as clipping coupons or buying generic. Gas? Carpooling, public transportation or skipping the tropical vacation and driving to a cabin. Engagement rings? There aren’t any coupons to clip, generic brands to choose from or substitutions.  Recently CNN’s Money Watch came up with ways to save when buying an engagement ring.

  1. Nix the diamond mindset.
  2. Buy a “pre-loved” diamond.
  3. Honor your family.

Diamonds are a Girl’s Best Friend or are They?

The jewelry industry is seeing more engagement rings with a center stone that is not a diamond, or includes side stones that are not diamonds. Another option, go with an all gold or platinum band. You can create a custom band without any stones and still have a one-of-a-kind piece. The stereotype of a little girl’s dream wedding does still exist and that usually includes a diamond engagement ring.

Diamonds are Forever

While diamonds may be forever, unfortunately this is more commonly untrue of marriages. CNN makes reference to “pre-loved” jewelry. Websites are selling jewelry from others failed engagements and marriages. Buying jewelry from a website like this can raise suspicion about what you are actually buying. An experienced jeweler may have pieces with a similar story and knows the best way to handle refurbished or “pre-loved” jewelry. They know what they are buying and selling, but most importantly, you know what you are spending your money on.

It’s all in the Family

When you buy a piece of jewelry do you think, “I am buying this so I can pass it down to someone in 40 years and it will still be in style”? That thought probably didn’t go into the jewelry you just inherited. Use the stones to create a custom piece of jewelry. Not only will it be worn proudly and match your style, the story behind it makes for great conversation.

Source: CBS Money Watch, “3 ways to save on an engagement ring,” March 26, 2012