5 Ways You Can Save On An Engagement Ring in Singapore Without Looking Like A Cheapo

No Money, no Honey.

Well, that may not always be the case but in Singapore, it is the convention to buy a diamond ring for proposal or engagement.

Search on online forums and you can quickly feel the anxieties of these poor men who are in a dilemma when getting a ring for their girlfriends – price, the reputation of jewellers, carats, colour, cut – their list of concerns are endless.

But before you walk into any jeweller and splurged on the biggest diamond ring you can afford, there are many nifty tricks to help you get a nice diamond ring without burning an irreparable hole in your pocket.

1) Buy A Diamond Online

[image credits: pixabay]

[image credits: pixabay]

Many people may frown upon the idea of acquiring something as expensive as a diamond online – what if it is a fake? What if it turns out not as nice as the picture shown on your computer screen?

Well, obviously if you are going to undertake this endeavour, there has to be time spent on research to ensure you are getting the real deal.

You need to also ensure that the retailer has a 100% refund policy within the free-look period.

One way to buy from a reputable jeweller and get a certified diamond. A diamond certificate verifies a diamond’s specifications, including details like its colour grade, carat, clarity and cut grade.

The most popular and perhaps well-known grading laboratory is the Gemological Institute of America (GIA).

2) Focus On Cut, Not Size

[image credits: pixabay]

[image credits: pixabay]

There is a misconception that the bigger the diamond, the better or the prettier it is. Have you seen the picture of an unprocessed diamond? They look nothing like those shiny gems that we see at the display glass windows!

In fact, the cut and clarity of the diamond can impact the shine of it much more than its shine.

The shine is formed from the reflection of light on the multiple facets of the diamond, so instead of splurging on a diamond’s size, go for a smaller one that’s well cut instead.

3) Avoid Big Chain Jewellers

The easy way to get a diamond ring is obviously to walk into one of the many jewellery boutiques to get them but this is far from being the most economical ways.

The best way is to go to a private jeweller for your diamond and either get them to frame it for you on a ring or go to smaller jeweller for this service.

It would be good to give them an idea of what you want by having some pictures of the designs you think your future spouse will like.

4) Give Other Precious Stones A Chance

[image credits: pixabay]

[image credits: pixabay]

Not all girls love diamonds, or at least, some may prefer other gem-types or coloured diamonds to distinguish themselves from the mass.

Gem stones such as sapphire, emerald and amethyst are also popular choices as engagement rings.

5) Use A Credit Card For Cashback

Since you are on a quest to save as much as you can, you might want to consider using a cashback credit card to pay for the hefty price tag of the diamond ring.

There are a number of cashback cards in the market that gives you at 5% cashback, so make use of that.

Many of these cards also limit the total amount of cashback you can get per month, so it may make sense to pay it by installment so that you can take advantage of the cashback benefits.

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Lynette Tan

Lynette has more than six years of experience in financial analysis and writing, having stepped foot in the financial world as a commodities analyst. With a passion for personal investing and financial literacy, she hopes to help others gain investment knowledge by making investment concepts plain and simple for the man on the street.

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