After the world financial meltdown we all witnessed recently, the prices of commodities like gold and precious stones have skyrocketed. This means that jewelry items such as rings and necklaces can be a particularly expensive buy. If you’re ready to pop the question to your partner though, you shouldn’t let the high engagement ring prices put you off doing so, as there are a few ways in which you can save money on engagement rings without disappointing your bride-to-be.

Brand - There are brand name diamonds just like there’s brand name clothing or shoes. And just like brand name clothing or shoes, you will pay more for some brands than for others or for clothing or shoes of unknown brand. Buying a no brand diamond will almost always save you lots of money. And like any brand, the brand of a diamond may not be so popular in the future. Then you’ll be kicking yourself if you paid a whole lot more for a brand name diamond than for its twin that didn’t carry a brand name.

Negotiation - Just like lots of other items, there’s no shame in dickering over the price of your chosen stone. Jewelers often mark up jewelry 200% or even more. This gives them plenty of wiggle room in the price of the ring or stone. Anyone buying an engagement ring is smart to spend a little time discussing the price with the salesman and seeing if they can get him or her to lower it a bit.

Shape - The shape of the stone makes a huge difference to the cost. To save money on purchasing an engagement ring, try to find a stone that has been cut to an oval or pear shape. The reason behind this being that these cuts make the diamond appear bigger than it actually is and brings the carat weight to the top. Also, diamonds cut this way are less popular and can be much easier on your wallet.

Band - People immediately notice the diamond in the center of an engagement ring. The band is secondary. It makes lots of sense to choose a simple band and put that saved money into the centre stone. Your fiancee will be blown away by the beautiful centre diamond and that’s what everyone else will notice too.

Stone - A common mistake among purchasers of diamond rings is purchasing the stone from the same retailer that will set the stone. It saves big money if you purchase the stone from one retailer and have a second retailer set it into the band.