1. Shop for your engagement ring during the off-season. The best time to buy an engagement ring is during the off-season, which runs from December to February. This is when jewelers offer the deepest discounts.
2. Get a pre-owned ring. A pre-owned ring is a great way to get a high-quality ring at a fraction of the cost of a new one. You can find pre-owned rings at pawn shops, estate sales, and online retailers such as eBay and Craigslist.
3. Choose a less popular diamond shape. The most popular diamond shapes are round and princess cut. These shapes are also the most expensive. If you want to save money, choose a less popular shape such as oval, pear, or marquise.
4. Go for a lower carat weight. A diamond’s carat weight is how we measure its size, and bigger diamonds are more expensive than smaller ones. If you want to save money, choose a lower carat weight such as 0.5 or 0.75 carats.
5. Don’t get caught up in the 4 Cs. The 4 Cs (cut, color, clarity, and 
carat weight) are the factors that determine a diamond’s quality and price tag. However, you don’t need to focus on all four of them equally when shopping for your engagement ring. For example, if you prioritize cut over color, you could save money without sacrificing quality or beauty..