We don’t have to tell you that classic wedding rings cost a lot of money. The average ring costs $6,351 to be exact (according to our research). No matter what your budget, here’s how to get the most bang for your bling.

Be strategic with the setting.
If your budget won't allow for that larger stone you have your eye on, don't worry. You can actually create the illusion of additional carats by choosing a halo setting (a circle of smaller stones around the center stone). Not only can this type of setting make the stone in the middle look bigger, it can also completely change the appearance of the diamond by giving it a vintage look.

Pick a prong.
Less metal means a lower cost, so opt for a more minimal prong setting (which secures the diamond like a tripod above the band) over a bezel one (a metal ring that encircles the sides of the gemstone to hold it in place). Since more of the stone is visible, a prong setting is a great way to highlight the diamond, as well as make cleaning the ring a lot easier. Just make sure to go with platinum for the prongs (even if the rest of the ring is gold or some other metal), since it's much stronger and will hold the diamond firmly in place.

Consider pavé diamonds.
Do you dream of having a flashy rock that rivals Kim Kardashian's, but don't exactly have her budget? Well, you can fake the look thanks to pavé diamonds. Pavé diamonds are tiny diamonds that add a distinctive 'crushed ice' look to wedding engagement rings. Because they're so small, beautiful stones are much more common and therefore less expensive. Think about buying a slightly smaller center stone, and then lining the entire band in pavé diamonds. You'll get just as much sparkle as a big diamond, for a much lower cost.

Buy shy.
As you might have heard, shopping for a diamond centers around the "4 Cs"—cut, carat, clarity and color. When it comes to the carat size, you can save a considerable amount of money without sacrificing the look of the stone by buying shy, Holland advises. Diamond prices jump disproportionately at the carat and half-carat marks, which means buying just shy (say, 1.8 carats instead of 2) can equal a potential savings of nearly 20 percent—but the difference in the diamond will hardly be noticeable, if at all.

The next article will continue to introduce you to how to buy a wedding ring.
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