If you happen to be on the verge of buying a diamond engagement ring, this post is for you. Most of you probably aren’t in that situation, however. In that case, this post is for the friend or brother or son of yours who is getting close to popping the question.

For most people, purchasing an engagement ring presents a challenge. On the one hand, you want to get something really nice—something that your girlfriend will be happy to wear even many years from now. On the other hand, your budget is limited, especially when you’re just starting out.

Fortunately, there is a way to get a fantastic ring for much less than most people pay. I used this approach to buy my wife’s engagement ring more than 10 years ago. And I’m not ashamed to admit it. Why? Because it isn’t about being cheap. It’s about getting the absolute best ring you can for your budget. Here’s how to do it: (more…)