How to Afford Your Dream Ring

How to Afford Your Dream Ring

If you’re looking to plan your perfect and dream engagement ring, it’s best to have a budget.

A budget helps you set how much you plan to spend on a ring. This helps you become more realistic with the design of your ring.  

Planning Your Dream Ring 

Your engagement ring is going to be one of the most expensive purchases of your lifetime. After you have set your budget for your engagement ring, next you will need to plan how your ring will look. Some options to consider are:  


  • Type of center stone: will it be a diamond or another stone? 
  • Size of center stone: how large of a stone would you like? 
  • Design of the center stone: what cut? 
  • Type of metal: rose gold, yellow gold, titanium, platinum? 
  • Setting design: Halo, double halo, nature-inspired, pave, eternity band? 


After you have designed your dream ring, then you can go into deciding how you would be able to pay for your ring. If you do not have the cash to pay for it in full upfront, many jewelers and jewelry stores have many different financing options you could choose from.  

Financing Options For Your Engagement Ring 

Credit Cards 

One of the most common financing options is to use a credit card. This helps you pay off your engagement ring in one payment if you do not have the funds in cash. You will have to pay off the credit card with a higher interest rate.  

 In-House Financing 

Many of these in-house financing plans come with more flexible credit requirements. Some retailers may have a minimum purchase amount before any financing options can be discussed. Always make sure to discuss this before going forward with your purchase.  

Personal Loans 

This installment-type loan is best for buyers who have a good credit score. These types of loans also offer some of the best interest rates. This loan is paid off in small monthly installments as well as paying interest charges and fees. Since this is a private loan, you’ll need to apply for it and also get approved before you can go make your engagement ring purchase.  



Springer’s Jewelry has a wide collection of diamond rings for you to choose from. No matter what style you need, we have the collections to help you make the right decision for your forever ring. Contact us today to set up an appointment to meet with a diamond specialist.  

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