Buying an engagement ring once commanded two months’ salary. At least, this was the expectation set by the industry. However, times have changed, and most individuals don’t have thousands of dollars to drop on a diamond. Many news sources showcase that millennials aren’t afraid to just say no to diamonds, and millennial engagement rings vary from traditional diamonds to fantastic gemstone creations.

According to an article in Forbes, millennials are more invested in diamonds than many have assumed. DeBeers has pegged the millennials as the future of diamonds. The diamond leader noted to Forbes that millennials spent about $26 billion in 2015 on diamond jewellery.

So do millennials have love or disdain for diamonds? Maybe it’s a bit of both. There’s no reason to doubt the DeBeers figures, and millennials are known for their love of unique designs and embracing individuality. Some millennials want the diamond tradition, while others may scoff at the sparkling luxury.

Couples should select a ring based on what is beautiful in their eyes…and fits in their budget. We’re past the days of spending massive amounts on calls; the price doesn’t indicate the emotional value anyway. No one should go into debt to afford an engagement ring! So before you go ring shopping, map out your finances and figure out your budget.

When the numbers are aligned, discuss what type of style and stones fit into your beloved’s personal style…and will be functional enough to wear every day. If diamonds are out, find another gemstone that can endure the wear and tear of everyday activities. Moissanite is extremely durable and looks like a diamond, but this gem is a fraction of the price. Or choose an ornate band without gemstones.

Your budget also will dictate the diamond you can afford to purchase. Be sure to research the 4Cs—cut, colour, carat and clarity—to understand how each area affects the beauty and price. Most diamond professionals would recommend sacrificing carat weight before any other city.

There are many other issues to consider when hunting for that perfect ring, like size, style, and what metal you want for the setting. While all these decisions may seem a bit overwhelming, check out the infographic from online jeweller Brilliance as a cheat sheet when shopping for that dream ring! 

Lab Made Diamond Engagement Rings 

How many of you are aware of lab-made diamond rings?

Lab-created diamond contains the same value as natural diamond, the only difference is that because of excluded mining cost, they are less costly; as a result, you can purchase them cheap. However, Lab-created diamonds contain less value than natural diamonds. But, unless you're dropping some serious cash. So if you are looking for a cost-effective solution, you must purchase lab-made diamond engagement rings.