5 Carat Diamond Ring

An engagement ring is a woman’s most prized possession; it’s truly not a purchase where you should be trying to cut corners.

Affording a 5 Carat Diamond Ring

The majority of Hollywood starlets and New York socialites are presented with a 5 carat diamond ring or higher when asked the magical question. But, don’t immediately write off such a big rock simply because high-status women are donning the style. Even if you bring home the Average $40,000 per year American salary, it’s possible for you to afford a 5 carat diamond ring if you’re strategic with your shopping.

Payment Plans

The most economical way of purchasing a 5 carat diamond ring without breaking the bank this very day is to opt for a payment plan. Major jewelry retailers, such as Kay Jewelers, Gordon’s and Zale’s offer store credit cards that allow you to finance an expensive jewelry purchase. Of course, you’ll need to have reasonably good credit in order to be eligible for a store credit card. But, it really can take the burden off of paying upfront for a pricey 5 carat engagement ring.

But, what most people don’t fathom about diamond rings with such a high carat weight is that they often aren’t sold in stores. Most respectable jewelry stores carry only jewelry with a total carat weight of up to 3 carats in their stores. A 5 carat diamond ring may be priced in the range of $15,000 to well over $50,000 in many establishments; it just isn’t practical to keep such a valuable piece of jewelry in stock at every store. You’ll likely have to special order the ring online or through a direct appointment with a sales manager. However, you may also have the ring custom-made to your specifications. Depending on the interest and total price of your 5 carat diamond ring, you’re looking at a minimum monthly payment of at least $350.

A more Affordable Alternative

Hey, if you aren’t comfortable spending more on an engagement ring than you did on your car, I don’t blame you. In fact, if you’re on a limited budget but don’t want to lose the wow factor of such an extravagant engagement ring, consider an alternative center stone.

Purchase a ring setting with lavish diamond side stones and simply replace the larger center stone with a Moissanite, Asha or other synthetic diamond. If going this route, it’s best to ask your fiancé if she’s alright with donning a synthetic center stone. If she says she isn’t comfortable with the idea, tell her your budget and take your fiancé ring shopping for her dream engagement ring. Even if your budget is only $3,000 to $5,000 you’ll find dozens of lovely rings within your price range.