Choosing an engagement ring is one of the most emotionally significant decisions you’ll make, and it’s one of the most sentimental purchases you’ll ever make. An engagement ring isn’t just a piece of jewelry. It’s a symbol of your relationship and a signal to you two and the world that you’re fully committed to one another. Even though an engagement ring is such an emotionally significant purchase, it doesn’t mean you need to break the bank to purchase a stunning ring. There are so many affordable engagement ring options available to you, so you can choose the ring of your dreams without having to face an intimidating price tag. Read on to learn more about engagement rings on a budget and some of our top picks for affordable engagement rings.

What’s a Good Budget for an Engagement Ring?

It’s important to remember that no matter what other people spend on their engagement rings, you and your partner can set a budget that works for the two of you. You may have heard of the 3 month salary rule as a starting point for establishing a budget. That rule comes from the Great Depression when diamond sales were at a low, so diamond companies encouraged that as a budget. Today, that rule isn’t always realistic or a good idea. An engagement ring is about the thought put into it, not the price tag. 

What is the average cost of an engagement ring? The average cost in 2022 was $6,000 for an engagement ring. While that might be a hefty price, consider some of this information. About one-third of those people in the survey spent only $1,000–$4,000 on an engagement ring. So while that may be the average, you can set a much lower budget and find a beautiful ring like so many other couples. 

So what’s a good budget for an engagement ring? The answer is your budget should be whatever works for you two as a couple. That being said, make sure your budget is still realistic. While some couples do spend less than $1,000 on an engagement ring, that isn’t always an option for every couple. Instead, it’s more helpful to consider a few factors when setting a budget:

Lab diamonds vs. mined diamonds.

If you are looking to save money, choosing lab grown diamonds will nearly always be a more affordable option. Mined diamonds come with ethical concerns and typically cost more. 

The 4 Cs.

The 4 Cs are a staple of diamond shopping, and all four of them are important. But if you’re on a budget, remember that the most important of the 4 Cs is cut. Don’t settle for a less quality cut, but you can choose a lower cost color, clarity, and carat to meet your budget. 

Your current financial situation.

There’s no need to go into debt for an engagement ring (especially with lab diamonds on the market), so consider your own situation. Look at your expenses and budget and determine exactly what you can afford. 

Your partner’s expectations.

Your partner may have some features in mind or a full picture of their dream ring. With some flexibility and utilizing lab grown diamonds and the 4 Cs, you can get your partner their dream ring on your budget. But remember, you can always buy an engagement ring on your budget and upgrade down the line to fully meet your partner’s expectations if they’re too far out of your budget. 

Remember that an engagement ring is beautiful because of what it symbolizes, so the goal isn’t to choose the most expensive ring or the biggest diamond. It’s to choose something that your partner will love that symbolizes your union – no shame in shopping for engagement rings on a budget!

Is $2,000 Too Little for an Engagement Ring? 

As you work toward setting a budget, you might wonder if $2,000 is too small of a budget for an engagement ring. The good news is that it’s not! You can find beautiful, sparkling engagement rings for $2,000 and less. Here at Clean Origin, we have options for you that are well within this budget of $2,000. Check out these stunning rings with a $2,000 price tag.

The Margot Ring

This stunning, timeless ring is the perfect choice for budget shoppers looking for a solitaire with a round diamond. With a lab grown diamond, this classic ring stays well within your budget and provides you with a dazzling diamond still

Quiet Beauty Oval Ring

If you’re in love with oval diamonds, this ring is for you. With a simple solitaire band, this ring sets your lab grown diamond up to shimmer and shine

The Kate Ring

This stunning ring has an extra thin diamond lined band that really sets off the dazzling center stone. It has a hidden halo as well, to add a little more sparkle to your engagement ring.

The Petite Floating Gem Ring

This petite ring has a thick band of lab created diamonds to emphasize the center stone. This ring is compatible with any diamond shape you love, so it’s a great customizable option to ensure you’re choosing the perfect ring.

The Rhema Ring

The Rhema Ring is an art deco ring that’s sure to stand out, with a halo of petite round stones and baguettes. The center diamond shape can be customized, so if you love an oval or cushion diamond more, you can get that with the Rhema.

$2,000–$3,000 Engagement Rings

If your budget is between $2,000 and $3,000, we have many options for you at Clean Origin, so you can browse engagement rings on a budget without worry. Here are some of our top picks for rings in this price range.

Cleopatra Ring

This dazzling ring comes with a full half-carat of stones along the band. It’s also compatible with any diamond shape, so you can customize this ring to match your taste.

Morgan Ring

This simple stunner is the perfect ring for someone who wants a ring like no one else’s. It’s unique and draws all of the attention to the center stone.

Mozart Grand Ring

With a stunning center stone and prong-set side stones, this ring is shimmering. The ornate details around the center stone add a new level of dazzling.

Coraline Ring

This vintage-inspired ring is sure to be jaw dropping. For essentially only $2,000, you can find a ring with a dazzling halo and a large center stone.

Demi Marquise Ring

This ring has a stunning band of inset marquise diamonds (hence the name of the ring) with a customizable center stone, so you can choose a shape you love.

Marie Ring

This unique ring features diamonds on the band and a twisting band, all leading to a lab grown center diamond that steals the show.

Fleur Bridal Set

If you’re looking to get your entire bridal set for under $3,000, this is the perfect set. The Fleur ring comes with a beautiful wedding band that perfectly complements the engagement ring.

Nicky Ring

This bezel-set ring is sure to be the perfect statement engagement ring for someone who loves a modern look.

$3,000–$5,000 Engagement Rings

At Clean Origin, you’ll never pay more than $5,100—even for our most expensive rings. You’ll always be able to stay under the average cost. That’s one major benefit of choosing lab grown diamonds. Here are some of our rings within the $3,000–$5,000 range.

Perfect Fit Channel Set Petite Ring

This ring is platinum, which makes it highly durable and perfect to make an heirloom piece. Plus it’s a classic look that stays chic and modern.

Sirena Bridal Set

This bridal set creates two diagonal lines that perfectly accentuate the center stone on the engagement ring.

Windsor Grand Bridal Set

This bridal set is a showstopper with tons of lab grown diamonds along both bands.

Emeline Ring

This ring is sure to sparkle with 68 breathtaking diamond accents around your center stone. Plus in platinum, this piece is sure to last.

Shop Engagement Rings at Clean Origin

Clean Origin has a vast assortment of engagement rings on a budget that will captive hearts and encapsulate your love story!