We know one thing for sure - getting ready to pop the question is one of the most exciting moments in life! You've probably been saving for an engagement ring by now and if you're stressing out about your budget, you've come to the right place for advice. Apart from your home and your car, your engagement ring is one of the biggest single purchases you'll ever make so it's important to put proper thought and consideration into choosing the perfect one for you. Despite the societal pressure to spend a fortune on the ring, there are lots of ways to purchase a show-stopping sparkler without breaking the bank. It's all about being savvy and knowing what to look out for, that's why we've teamed up with AIB to bring you these tips on how to find the perfect ring for your budget.

Familiarise Yourself with the Four C's

Before you go about ring shopping, familiarise yourself with the language of diamonds and decide what you'd like to prioritise. Does the size of the stone matter? Or would you prefer a smaller diamond with more sparkle? You may have heard of the 4C's by now but if not, here's a quick guide. The 4C's of diamond quality examine cut, colour, carat and clarity. Colour is graded on a scale between D to Z with D being the purest shade of white. Many stones graded D-F appear the same to the naked eye, so it's worth remembering you could opt for a lower colour grading and a bigger carat. Carat, meanwhile, refers to the size and weight of the diamond. The larger the carat, the greater the price! Generally, the less colour a diamond has, the more it costs. Clarity-wise, you'll want to aim for an 'eye clean' diamond which means there are no inclusions visible to the naked eye.

Choose Your Setting First

A great way to navigate a set budget when ring shopping, is to start the process by choosing the setting first. Unlike diamonds, ring settings have a fixed price which means once this is taken care of, you know exactly how much you have to play with when choosing your preferred stone. There are lots of different settings but the most affordable and most popular is a classic solitaire. This style typically features a single stone but can sometimes have an embellished band. You can explore different ring styles and settings here if you need a little more help. Remember, the less you spend on the setting, the more you have to spend on the stone!

Consider the Choice of Metal

If you're really serious about keeping costs down, pay close attention to your choice of metal. Believe it or not, you can get a better deal just by switching up this one thing! Although platinum is the preferred metal, it's also the most expensive. Instead, opt for something like white gold which is a great alternative. White gold is not only beautiful, it's also really durable and has a high scratch resistance factor so it's brilliant for everyday wear too. Remember, you'll be purchasing matching wedding rings down the line, so this will save costs in the long run too! Speak to your jeweller about the best option for your budget.

Explore a Diamond Alternative

Diamonds may be a girl's best friend but they're not exactly wallet friendly. If you're after a beautiful piece that will sparkle for days, it's worth looking into diamond alternatives like moissanites and white sapphires. These gems are the next best thing to a real diamond and they're a fraction of the price too. Another big plus is that they rate high on the Mohs scale of relative hardness which means they're hard-wearing and suitable for every daywear. For further cost-cutting, consider softer gemstones like magnificent morganites, dazzling aquamarines and beautiful amethysts but bear in mind that they aren't quite as durable so they'll require a little extra care. Another option is to go for a lab-grown diamond. Because lab diamonds don't have to be mined and there's an endless supply, they are a lot cheaper to buy (up to 30 per cent) and just as sparkly!

Propose with a 'Starter Ring'

We know there a certain long-standing traditions when it comes to popping the question but who says you can't start your own? While you'll no doubt want to propose with the perfect ring, consider going down on bended knee with a 'starter' or 'placeholder' ring. This is a truly lovely way to propose, after all, asking someone to marry you is about the promise, commitment and devotion to that person, not the ring (although that's pretty important too)! And no, a 'starter ring' isn't being 'cheap' or 'lazy.' It actually allows you precious time to save and shop around for a piece you truly love without having to settle on a ring that isn't 100 per cent right. It also leaves you both with something really fun to look forward to down the line (other than the wedding!). Jewellery stores will always pull out all the stops for engagement ring shoppers and that's an experience you can cherish together!

Purchase the Ring 'Off-Season'

If you're working with a strict budget, there are certain times of year you should avoid ring shopping. Valentine's Day, Christmas and New Year's Eve are popular occasions for popping the question so if you're looking for a good deal, it's best to save ring shopping for before or after these holidays. If your chosen date falls around this time and you've left it too late to find the perfect sparkler for your better half, consider a more modest 'proposal ring' that you can upgrade down the line.

Shop Online

While there are lots of advantages to purchasing your ring in-store from a jeweller (professional advice and care and shopping locally being two major factors!) shopping online can definitely help cut some costs - up to 30 and 50 per cent according to some publications! For one, there are fewer overheads for the online retailer to take care of which often hike up prices for the customer. If you're going to purchase your ring online, it's a good idea to browse the jewellery stores in person first so you have an idea of what styles you prefer. Take the time to examine the pictures and make sure you are happy with the ring from all angles. It's also a good idea to double check the ring will come with certification and while you're at it, read the small print surrounding guarantees and refunds!

Propose with a Family Heirloom

There's something truly magical about proposing with a family heirloom that has been passed down generations and if this is an option for you, it's one worth exploring. There are lots of beautiful ways of breathing new life into a precious antique and if you'd like to add a modern touch, you can always chat to your family about customising the ring to your partner's tastes. You can add new stones, have old stones transformed into something completely new or add a special engraving inside the band to make it truly personal - all these options are much more cost-effective than purchasing a new ring, and you get to share a piece of your family history with your new bride too!

Ask for Help

If you're feeling overwhelmed doing the number crunching, don't worry, we understand! Popping the question is a big moment in life and purchasing an engagement ring is a significant financial investment. If you need assistance, remember that help is always at hand. Whether it's for the ring, your wedding dress, honeymoon or beyond, AIB is offering personal loans from €1,000 - €30,000; you can apply online and in the AIB app. You can use AIB's online loan calculator to see how much you could borrow and even set your own repayment schedule - weekly, fortnightly, or monthly. If you're getting married and need some support, this could be the way to make your dreams become a reality. For more information, check out AIB online here to calculate how much you could borrow.

You can apply for an AIB personal loan today and make your dreams become a reality. Head to the AIB App or check out the online loan calculator on the AIB website for more details.

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