smart spending

5 ways to save on an engagement ring

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Buy online

It may not be as romantic as entering a brick-and-mortar store to buy an engagement ring, but buying online can save you enough cash for many romantic nights. Thousands of couples seem to agree. According to The Wedding Report, more than $1 billion of the $9.64 billion spent on engagement and wedding rings in 2010 came from online purchases.

"The customer gets far more value for the money buying online," says jeweler L.G. Landau of DiamondIdeals.com. Because an online retailer has more competition than a traditional store and less overhead, prices are naturally lower, he says.

Consumers should be especially discerning when selecting an online jeweler. Landau recommends seeking retailers whose jewelry has been evaluated by gemologists, who can provide digital images of the stones and who have multiple channels of communication, from email to online chat capabilities.


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