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4 Affordable Diamond Engagement Ring Alternatives (That Are Still Gorgeous)

Choosing the perfect engagement ring and popping the question is an exciting milestone in any relationship. Whether you choose a ring with your significant other or he picks it out and surprises you, the majority of women dream of a diamond engagement ring. No matter what your style is or how big or small of a ring you prefer, there’s a diamond ring for everyone. It’s a timeless stone that’s perfect for symbolizing a lifelong love story.

If you and your SO are looking at rings or talking about engagement, you’ve probably noticed that natural diamonds are very expensive. For some, spending that much money on a ring isn’t possible, while others prefer to save the money for something more important, like a down payment for a house. Although it can be difficult to part with the idea of a traditional diamond engagement ring, there are many affordable options that are still stunningly beautiful. If you’re looking for a diamond alternative, check out some of the options below.

1. Lab-Grown Diamond

If you can’t settle for anything besides a genuine diamond ring but don’t want to pay the price of natural diamonds, lab grown diamonds are your best option. It’s impossible to tell the difference between a lab-created diamond and a natural, mined diamond, but the price tag is considerably different. Lab diamonds can be up to 50% cheaper than natural diamonds. While still expensive, that’s a considerable discount for essentially the same stone.

The only difference between lab diamonds and natural diamonds is how they’re made. A lab diamond, as the name implies, is made in a lab using advanced technology to simulate the natural conditions in which a diamond forms. The end product is identical to a natural diamond. You can buy lab-grown diamonds with any color grade, cut, shape, size, and clarity that you prefer. They’re also more ethical and sustainable than their natural counterparts.

2. Moissanite

Moissanite is a gorgeous stone that is similar to a diamond but has its own flair. Moissanite is known for its sparkle, as the stone is even more brilliant than a diamond. Although its color is similar to that of a diamond, Moissanite produces a fiery rainbow-like sparkle that is unique to the stone. It’s also the second hardest gemstone, next to the diamond, so it’s durable and can withstand daily wear. 

Moissanites are considerably cheaper than diamonds. You can buy a 1-carat stone for $200 to $600. If you love some sparkle and want a big rock without the huge price tag, Moissanite is a great choice.

3. Morganite

Pink-hued engagement rings have been trending, and morganite is the perfect choice if you’re in love with all things rose-gold. Morganite has a beautiful soft pink tone that you can wear with anything. They have an enchanting glimmery sparkle that’s similar to a diamond. Morganite is not as hard as a diamond or Moissanite, so you’ll have to be a bit more careful with this stone.

Morganite is a significantly cheaper stone option in comparison with diamonds. 1-carat morganite stones can range from $100 to $300. If you adore the look of pink diamonds but don’t love the price, a morganite ring might be the best choice for you.

4. Sapphire

Sapphires are another classic stone that is perfect for engagement rings. They come in a variety of colors, from white sapphires that appear similar to diamonds to deep blues, vivid purples, and warm yellows and oranges. It’s an elegant stone that also allows for a more unique ring with a different color than your typical colorless diamond. Blue sapphires are the most common and make for a dazzling engagement ring.  Sapphires are hard stones so you don’t have to worry about them chipping or scratching. A quality stone will be sparkly and brilliant, but you’ll have to find a reliable jeweler. Sapphires are not as regulated as diamonds, so the quality may vary considerably depending on where you buy your stone.

Sapphire ring costs can vary greatly depending on how rare the color is, the quality, and the carat weight. But most sapphires cost less than diamonds, and you can find sapphires for as low as $500 per carat.

Finding the perfect engagement ring can be tough; after all, it’s a ring you’ll live with for the rest of your married life. But it doesn’t have to be an extravagantly expensive purchase. If you and your partner aren’t interested in going into debt over a ring or prefer to use your money on something more important, there are plenty of options besides the traditional diamond engagement ring. Look for rings with the stones mentioned above, or choose another inexpensive stone that matches your style. You’ll find that you can still buy a gorgeous ring without breaking the bank.

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