So you are ready to propose – you have a great proposal idea in your head, you know exactly what you are going to say and you can’t wait to put a ring on her finger. There’s just one problem – you don’t have the ring! Money’s tight though, so you want to find a cheap engagement ring – is it possible?

First off, I hate to use the word “cheap” in the same sentence as “diamond ring”. Why don’t we instead say affordable engagement ring ? sounds a lot better in my opinion!

Budget is the first consideration when you’re working with a tight budget. Figure out how much you can afford to spend on an engagement ring. Be realistic here; it is going to be a significant expense.

You’ll either have to tap into your savings to pay for this purchase or save up for an engagement ring. Don’t make the mistake of spending too little – this is one of the most important purchases you’ll ever make.

Traditionally, about two month’s salary should be spent on an engagement ring. However, this may not be possible for you; you may have a lot of other expenses to handle.

If your budget is too limited for this, don’t stress too much about it. You can find great diamond engagement rings which are affordable. The key is to try to get the most diamond for your dollar.

Typically, you should be prepared to spend at least $1,000 on an engagement ring. This is something she’ll wear forever and is a symbol of your commitment to her. You might have to make some sacrifices to buy this ring. As far as diamond engagement rings go, $1,000 is a low price tag. However, you can make even one thousand dollars go a longer way than you may think if you know what to look for.

Go to my site and grab the Diamond Buying Guide – it will show you a ton of tricks on saving money on engagement rings. It’s amazing how many people waste money on this purchase. I’ll make sure get every last bit of your money’s worth.

The first thing you should do is to look for a simple setting. Go with 14 carat yellow or white gold here. If you’re on a budget, you don’t need to spend the extra money on platinum or 18 carat gold. The bulk of your budget should go towards the diamond, not the setting.

You’ll want to get the largest diamond you can. Diamonds are graded in several ways; my guide will give you ideas about which of these criteria are most important when looking for a diamond engagement ring on a tight budget.

It really is possible to find the perfect ring for your fiance without breaking the bank; just keep in mind that you are not looking for a cheap diamond engagement ring, but an affordable diamond engagement ring! Happy hunting!