How To Be Financially Smart and Avoid Scams When Buying an Engagement Ring

engagement ringEngagement ring. Just the name alone conjures images of romance and excitement.

While it’s true that the purchase of a ring to signify you want to spend the rest of your with someone is an emotional experience, it’s also a financial one.

An engagement ring is seen as an extravagance, and regardless of your budget, it’s probably going to be a big expense for you.

Just as you want to find that perfect ring, it’s also important to make sure you are financially smart, and of course, make sure you’re not being ripped off.

Rather than being blinded by love, preparing yourself and looking at the purchase of an engagement ring as you would any other significant investment is the best approach to take.

Below are some tips you can follow if the time has come for you to go ring shopping:

 

Learn About Diamonds

Unfortunately, some unscrupulous people can try to rip you off when you’re purchasing an engagement ring.

One of the best ways to avoid being put in this kind of situation is to learn what you’re looking for and what you’re talking about. Use a resource like Diamonds.pro, so you can learn about the 4 Cs and what to keep in mind while you’re shopping.

The more you know, the less likely you are to be ripped off.

 

Think About Shopping Online

As with almost anything, you’re going to find the best deal on an engagement ring when you give yourself the opportunity to shop around.

Shopping online opens up a world of possibilities that you won’t have if you’re limiting yourself to local jewelry stores.

It’s also important to realize that the prices in your mall’s jewelry store are probably incredibly inflated, so even if they’re having what seems like an amazing sale, you’re likely still paying more than you would if you were to compare and shop online.

It might not seem as romantic as shopping in-store, but it can be a much better financial decision.

 

Check Out the Seller’s Reputation

There is one big downside to shopping online, and that’s the fact you may be uncertain about who you’re buying from.

When you buy from a jewelry store, you know what you’re getting is authentic. If you’re unsure about an online retailer, do your research and read customer reviews to see what kind of experience other buyers had.

Look Out For the Phrase “Carat Total Weight”

pexels-photo-115567As a final note, if you want to get your money’s worth and make a smart money decision, be very cautious when you see the phrase “carat total weight.” This doesn’t mean just the center stone is that weight.

It could be that you’re paying a high price for the weight that’s acquired from the addition of lots of little stones around the ring, rather than purchasing a larger center diamond.

Just because it’s important to avoid being ripped off or making a bad financial decision doesn’t mean buying an engagement ring can’t still be fun and romantic. It’s just important to be savvy at the same time.

 

Final Thoughts…

So are you looking to buy an engagement ring?  I know for me it was an exciting time to but also a time where I was scared out of my mind.  However if you follow the tips I’ve shared in this article you should be fine.

What tips can offer up to avoid getting ripped off when buying an engagement ring.  Share your thoughts and comments below.

Cheers!

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