10 Types of Engagement Rings That Are Affordable and Won't Break the Bank

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by Suzanne Sachs • 5 min read

THE BASICS --

An engagement ring does not need a hefty price tag to be a stunning and meaningful piece of jewelry. No matter what a couple’s budget is or how much they may or may not choose to spend on an engagement ring, even the most affordable engagement ring can be a priceless to the couple that shares it. These 10 affordable engagement rings are amazing designs we love that can suit any smaller budget.

Shop Affordable Engagement Rings

WHAT YOU NEED TO KNOW--

In this guide, we will explain the following:

• Defining Affordable
• 10 Stunning and Affordable Engagement Rings
• Diamond Solitaires
• Cluster Rings
• Vintage Rings
• Birthstone Rings
• Petite Rings
• Stacking Rings
• Plain Bands
• Wedding Sets
• Gemstone Solitaire
• Figural Rings
• Frequently Asked Questions
• Choosing an Engagement Ring That is Right For Me

Defining Affordable

“Affordable” will vary from couple to couple. The three-month income rule is often cited as an appropriate budget for an engagement ring, but this is a fabricated guideline that has no basis in how meaningful a ring may be. Some couples have smaller budgets due to income limits, other expenses, or debt commitments, while other couples prefer to save their money for other costs such as the wedding itself, a new home, a luxurious honeymoon, or starting their family rather than spending more on an engagement ring. Some couples even prefer not to spend extravagantly on an expensive engagement ring that may be damaged with daily activities.

Every couple should carefully discuss their engagement ring budget long before shopping for this very important piece of jewelry. Understanding the budget and why that limit is important can help the couple choose the perfect ring that will suit their price preferences just as well as it will suit their fashion preferences.

10 Stunning and Affordable Engagement Rings

There are many options for gorgeous engagement rings at any price point. For rings that are typically lower in price, these styles are our absolute favorites for distinction and beauty.

1. Diamond Solitaires: Timeless Elegance at Any Price Point

The classic diamond solitaire is an absolute stunner at any price point, and there are affordable options for any couple that prefers this traditional look. Choosing an elongated diamond cut, such as the emerald cut, oval, pear, or marquise, can make a more affordable diamond look larger and more eye-catching.

2. Cluster Rings: Maximum Sparkle, Minimum Cost

Smaller diamonds can be set into clusters to simulate larger carat sizes but for much more affordable prices. This is common with clustering several princess-cut stones into a larger setting or using multiple small diamonds in a halo setting around a central stone to give it an even larger appearance, but without a larger budget.

“I've purchased two vintage rings from Suzanne over the past decade and my wife has loved both. Great service, communication and speedy delivery.”

— Lee S verified buyer

3. Vintage Rings: Affordable Charm and Eco-Friendly Elegance

Vintage engagement rings can be stunning, and are often more affordable than modern rings. This is especially true of antique or estate rings that may show more wear, but these rings can easily be cleaned up and repaired if needed, restoring them to their former glory for lower budgets.

4. Birthstone Rings: Unique, Meaningful, and Budget-Friendly

A birthstone engagement ring has the added symbolism of a beautiful gemstone, which might represent the date of the marriage proposal, the forthcoming wedding, when the couple met, or any other significant date. The ring might even incorporate more than one birthstone for even more layers of meaning.

7. Plain Bands: Simple, Classic, and Affordable

An engagement ring does not have to include diamonds or gemstones. Some couples choose to use a plain band, or one with just simple accents, as the engagement ring, while saving the more expensive, elaborate diamond ring to use as the wedding ring when the time comes.

 

8. Wedding Sets: Matching Rings, Matched Savings

While a wedding ring set that includes a matched engagement ring as well as the coordinating wedding ring may seem more expensive at first, but it can actually be a much more affordable option than purchasing the two rings separately. This can be a great savings for a budget-conscious couple.

 

For a colorful statement that can be far more affordable than a diamond, choose a gemstone solitaire engagement ring. This might be a birthstone or other symbolic gem, or could just be a favorite gemstone or even a favorite color. When worn as a solitaire, there is no mistaking the overall meaning of the piece as an engagement ring.

 

“Suzanne was amazing! I utilized the layaway service and it was a breeze. Ring made its way to Texas and was even more gorgeous in person."
— Chloe G verified buyer

10. Figural Rings: Unique Designs with Personal Meaning

Special designs as engagement rings can be very meaningful and creative options for this piece of jewelry. Floral designs, such as those often found in Victorian or Art Deco engagement rings, are a popular romantic option, as are claddagh rings or heart shapes. Other shapes popular for affordable engagement rings include knots and initials.

Frequently Asked Questions

What is considered an affordable engagement ring?

An affordable engagement ring typically ranges from $500 to $2,500, but this can vary based on individual budgets and preferences. The goal is to find a high-quality ring that fits within your financial comfort zone.

What are some alternative gemstones to diamonds for engagement rings?

Popular alternatives include aquamarines, sapphires, rubies, emeralds, turquoise, and garnet. These stones can offer unique colors and styles, often at a more affordable price point than traditional diamonds.

What ring settings are typically more affordable?

Simple settings like solitaires, bezel, or prong settings tend to be more affordable due to their minimal use of metal and design complexity. Halo settings can also be cost-effective as they make smaller stones appear larger. Vintage rings can often be more affordable than brand-new ones, depending on the design, materials, and condition.

Our Top Pick for an Affordable Ring

When selecting an affordable ring, consider factors such as the type of metal, the choice of gemstone, the ring's setting, and the reputation of the jeweler. Additionally, explore options like vintage rings, which can offer unique designs at a lower price point. Here's a look at our top pick:

• Dainty Victorian Geometric Square Engagement Ring

This authentic Victorian engagement ring from the early 1900s features a 0.10-carat old mine cut diamond set within a geometric square frame, beautifully crafted in 10k two-tone gold and accentuated with delicate milgrain and filigree engravings.