Looking for ways to purchase the ring you want without breaking the bank? Larsen Jewellery are fine jewellers specialising in engagement and weddings rings based in Sydney and Melbourne, Australia… and have some great money saving tips to share with you today!

How to Save Money on Your Engagement or Wedding Ring

Weddings are expensive – that is fact. One of the most expensive items on your wedding list might be your engagement and weddings rings.

Are there ways to lessen the blow when purchasing both…?

The answer is YES!

Read more after the cut! 

Consider Going Custom

Before you do anything, the first thing on your list should be to work out roughly what your budget is before stepping foot into any jewellery store. This will avoid any nasty surprises and the temptation of being drawn to the pieces that in reality belong safely in your dreams.

Next up is for you to be reassured that it is possible to find a beautiful engagement or wedding ring that does not break the bank. It is possible to create a stunning piece within any budget. A good jeweller will be able to do this for you. This is when custom-made rings are such a great idea. It is often a misconception that custom-made jewellery is the expensive option. This is not the case. Custom made means your jeweller can work with you to come up with a beautiful design to suit your budget, choosing the best quality diamond or coloured gemstone for you.

How to Save Money on Your Engagement or Wedding Ring

Consider Coloured Gemstones

Let’s face it. Diamonds are expensive, especially large and exceptional quality ones. So what do you do when you have your heart set on an impressive centre stone but your budget will not stretch far enough to allow for one of those enormous stones you see in the glossy magazines? Well, you might want to consider coloured gemstones. Coloured gemstones are significantly more affordable, meaning a large stone is a much more realistic option. If you love the look of a white diamond, you may want to consider a white Sapphire. Although they do not have the same brilliance as a diamond, they are still exquisite and create a very similar look.

How to Save Money on Your Engagement or Wedding Ring

Consider Your Metal

First you will need to decide which colour metal is your preference – white, yellow or rose. The most popular choice is white coloured metals, either platinum or white gold. Both are fantastic and durable options that will stand the test of time. Platinum is considered superior as it is pure in nature, extremely hard wearing and requires no plating, as it is naturally white in colour unlike white gold that requires rhodium plating every 12-18 months. However, platinum demands a premium of almost twice the price depending on the price of metal at the time. This ultimately means that the choice for most will come down to budget. If you do decide on white gold, we suggest checking with your jeweller if their after service includes regular free polish and plating. This can end up being costly over time with jewellers charging approximately $100.

Consider Cluster Rings

Grouping small diamonds together to create a unique engagement ring can also be a cost effective option. The best thing about cluster rings… with extra diamonds your ring is sure to sparkle!

Tip: If you love the look of large diamonds, ask your jeweller to design a cluster to create the illusion of one large diamond.

How to Save Money on Your Engagement or Wedding Ring

Consider Diamonds Down the Track

You may want a wedding ring with lots of diamonds but cannot afford it right now. It is always possible to add diamonds later down the track. Perhaps just add a few now, or enough so that the diamonds appear as though they are set all the way around. When the expensive wedding period is over and things have settled financially, treat yourself to those extra diamonds, perhaps on your first anniversary.

In saying all of this, it is good to remind yourself that your engagement and wedding rings will be the one tangible thing that you will carry with you for the rest of your life. Make sure you give them the love and consideration they deserve… and remember, you don’t need to break the bank to afford a beautiful engagement or wedding ring.

How to Save Money on Your Engagement or Wedding Ring

All photo credited to David Perryman Photography

Thanks guys! Great money saving tips!


Larsen Jewellery prides themselves in their friendly customer service and exquisite workmanship. They also offer a unique Wedding Ring Experience where couples can come in and make each others wedding rings under the guidance of one of their expert jewellers. Visit their website today to experience for yourself why so many happy couples return to Larsen Jewellery.


Do you have any money saving tips to add? How did you save money on your engagement or wedding ring? Let us know in the comments below!