(Camilla, the Duchess of Cornwall leaves a blessing at St Georges Chapel in Windsor Castle after her civil wedding Prince Charles 09 April 2005. It’s easy to overspend on weddings, especially on rings when couples don’t know what to buy. Photo from AFP.)
Raising your eyebrows? You’re saying there are only four Cs?
Cut, color, clarity, carat.
Let me add one more.
Credit card.
Ooops. Those are six Cs.
It’s a slippery slope from diamond rings to expensive dinners to entourage costumes (yes, that’s exactly what I wanted to say) to a million-peso-wedding. If you ask me, Filipinos overspend too much on tying the knot, then wonder too long why the knot doesn’t stay tied for long.
So if you don’t want to overspend, check out this article from MoneySense. Here are Lynda Corpuz’ top tips:
1. Set a budget. Your soon-to-be bride may not be too keen about wearing an expensive ring but as Robin said, from centuries back, a ring (usually a diamond ring) traditionally serves as a betrothal gift to the bride and that traditionally, the price tag is equated to the kind of love he has for his bride.
I ended turning down most prospective rings because they were too pricey even if discounted. There is a rule of thumb that says an ideal budget for a ring is worth two months’ salary. Eventually, though, the guy will eventually determine how much he is willing to shell out.
2. Know the 4 C’s. Know the basics if you’re planning to get a diamond ring: cut, color, clarity and carat. According to Tiffany and Co., the diamond’s cut will determine its defining characteristic – so check for angle and size and the shape; round remains classy, but for variety, you may opt for emerald, heart, oval, marquise, pear, or princess cut).
The most valuable color is white or colorless, and graded “D” by jewelers. To check the clarity, examine the ring through a jeweler’s loupe or magnifying glass, and when the stone is graded SI1 [Slightly Included 1] or better (best and most expensive is IF, or Internally Flawless; worst is I3 or Imperfect 3], then your pick is fine. Finding the right carat for your budget is important so ask for stones than the next carat [example: 0.9 instead of 1], since this almost indiscernible difference can lead to significant savings.
In our case, Robin was on the lookout for a simple yet classy ring. He was first considering a round cut diamond. When I later became pro-active in our search, I leaned more toward a princess cut.
3. Pick the band. According to Suarez Wedding Rings Web site (www.suarezweddingrings.com), white gold is trendier than the traditional yellow gold and not as rare looking as rose gold. It is more affordable than platinum, an extremely white metal that is harder and more expensive than gold or any other metal at that.
White gold is recommended for stone settings other than yellow. You may opt for 24-karat gold, but you can save more by opting for gold of lesser karat. Since gold by nature is soft and malleable, generally losing its shape over time, cleaning and maintaining your engagement and wedding ring might eventually become a real expense. While we had different ideas regarding the stone, Robin and I settled for an 18K white gold band.
4.Shop around. Don’t settle for just the popular jewelry stores. You have to search both mom-and-pop jewelry stores and jewelry chains. The latter, of course, command higher prices because of their name and years in the industry. We found our ring at a less popular store, which has the accreditations required and follows global guidelines (the Philippines follows the International Gemological Institute guide on diamond clarity). Most stores we checked also offered discounts, but the smaller—and more eager—stores will give in to the customer’s (reasonable) demands.
When we got the discounted amount, I asked if they could just waive the excess P2,500 since it’s the only ring of its kind left and we truly came back for it after checking out all the other stores. So they waived it and my fiancé gave me an approving smile for sealing the sale at a more reasonable amount.
5. Don’t buy alone. For men, bring a companion when buying jewelry – someone who knows your ladylove’s preferences. If you decide to go with your fiancée, you may lose the surprise element and the romanticism, but it can be worth it. Looking for a ring together is an exercise in mutual decision-making, involving money at that. Buying the engagement ring gave us an idea how we are going to work together as a couple in the near future.
Enjoy shopping.
February 5th, 2009 at 11:11 pm
[...] NOTE: Also posted in Money Smarts [...]
January 5th, 2009 at 5:16 pm
i remember my own experience in buying an engagement ring…got it in Greenhills (and not from Ongpin) referred to me by a friend.
i got a nice one customized within my budget (i initially preferred what they call marquee diamond at a cost almost double my budget; didn’t get it even if they tried to lower the price)
for the wedding rings, i ordered from them also one year in advance…paid in installment sans interest until days before the wedding day when i picked them up…they didn’t increase the price even after 1 year and the rings were just there on display (but not for sale). nice people there and cheap too with free cleaning every time we pass by the store to window shop
January 4th, 2009 at 6:39 pm
Well my cousin is getting married this June and the reception alone in Century Park Sheraton would cost about a million bucks which I find really wasteful because he s not THAT filthy rich to begin with, there’s a financial crisis going on and no one will remember where he got married 5 years from now. I can’t even remember my rich and important Forbes park uncle’s wedding.
December 5th, 2008 at 11:46 pm
Did you guys know that the tradition of giving an engagement diamond ring to someone you love is not even a century old? But it feels like it’s been forever this way.
November 30th, 2008 at 11:08 pm
Very practical tips indeed! Buying something as expensive as a diamond ring surely requires careful assessment and thorough research. Most especially true if it’s for someone you are planning be with for the rest of your life! So you men out there, better do your homework first before buying that diamond ring that will symbolize your undying love and make your girl feel like she is the luckiest woman alive!
August 22nd, 2008 at 2:11 pm
why at the of engagement wear a ring ?
May 28th, 2008 at 10:07 pm
by visual alone you can’t really distinguished a real and artificial diamond. be sure to get a certification on the grade of diamond you are buying. diamonds with flaws like embeded carbon are priced lower but you can be sure it is real.
May 28th, 2008 at 2:33 pm
The tips are very correct. Before I went looking for an engagement ring, I had to do some research first on the 4 Cs. It took me two weeks to find the ring that meets my specifications and budget. I did not follow the 2 months salary budget. I dont think its practical. For our wedding ring, my tita knows where to get gold and have them custom made. It was 30-50% cheaper than the ones found in the malls.
May 1st, 2008 at 6:02 pm
hey!…whats d dfference between wedding band and wedding ring?
April 30th, 2008 at 2:46 pm
Want to have a free wedding ring? Get a jeweller or pawnshop owner as your ninang. That’s what we did. We got two diamond rings for free. The wedding gift of our jeweller ninang.
April 30th, 2008 at 11:33 am
Wow. Ring pa lang so much work (and money) to do heheh..
April 29th, 2008 at 10:32 am
got two of the rings at a shop in Greenhills referred by a friend. got good rates for them even had the 2nd ring made about a year in advance while the term is almost one year to pay. when i got the money to pay, i took it home.
now, the third ring…i don’t want to wear it: suffer-ring
April 28th, 2008 at 9:14 pm
I want our ring to be simple so I bought an 18-kt white gold wedding band - no stones. The karat was my hubby’s preference. And guess what? We don’t wear it