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5 tips to consider before popping the question

Date posted:  12/4/15 09:00:00 AM 5 tips to consider before popping the question

If you and your partner are considering marriage, the next question is how to search for the perfect engagement ring

Check out these five tips to help you settle on an engagement ring that you and your partner can feel good saying "yes" to: 

1. Find the right store .
While it might seem like the ring is what you should focus on first, knowing where to buy should also be a major consideration, according to The Washington Post. 

Whether you want to buy a ring at a local jeweler, or you want to find a merchant that sells conflict-free and eco-friendly diamonds, you'll want to gather information about your different shopping options. Know when sales start and end and what kinds of engagement rings are sold at each store. Armed with this information, you can ensure you make the smartest investment. 

2. Save money and find the perfect ring 
According to Bankrate, there are a number of ways you can save money when purchasing an engagement ring. Consider purchasing a ring online - consumers can often save more money by browsing the Internet and finding a ring than walking into a brick-and-mortar store. 

In addition, consider slightly downsizing the carat of the diamond. Chances are the difference between a 1-carat diamond and a 0.9-carat will go unnoticed, but it will make a big difference in the final price. 

3. Remember who the stone is for 
You should select a ring that your future fiancĂ© will love, but remember the ring should also be a reflection of you and your love. Pick something that will ensure the recipient thinks of you at every glance. 

If you're unsure what your partner wants, observe already owned jewelry, suggested Ask Men. Check the jewelry box to look for a pattern. Are there more gold pieces? Silver? Rose gold? Platinum? Choose a ring that is within the same metal that your partner most enjoys. 

Another way to do your detective work is to ask a friend or family member who is close to your future fiancé. Take a survey or invite someone to come along when you browse.

4. Invest in insurance 
One of the most substantial (and potentially most expensive) purchases you make should be protected by insurance. According to The Knot, when you insure a ring, you'll provide receipts and have the ring appraised for a small fee by a certified gemologist. 

Brides, a wedding publication, indicated you can either have a ring covered through homeowners or renters insurance, or you can invest in a policy through another company. 

Shop around for the perfect insurance policy and make sure you ask about coverage, cost and additional details that are most important to you and your partner. 

5. Decide how you'll pay 
Whether you open a savings account and tuck away a bit of your paycheck every month or you decide to make monthly payments, establish how you plan to pay for the ring before shopping.

According to Credit.com, there are different options available. Consider in-store financing if you'd like to pay off the ring over a period of time. Many jewelry stores will offer this free of interest for a certain amount of time. 

However, if you decide to pay off the ring through monthly payments, whether through in-store financing or a personal loan, you'll want to improve your credit score to ensure both approval and the lowest interest rate. 

Purchasing an engagement ring for the person you want to spend the rest of your life with can be an intimidating process, but with proper planning, you can feel confident in your decision.