So you are ready to propose - you have a great proposal idea in your head, you know exactly what you are going to say and you can't wait to put a ring on her finger. There's just one problem - you don't have the ring! Money's tight though, so you want to find a cheap engagement ring - is it possible?

First off, I hate to use the word "cheap" in the same sentence as "diamond ring". Why don't we instead say affordable engagement ring ? sounds a lot better in my opinion!

Ok, step one is to set a budget. Decide how much you want to spend on your engagement ring. And please be realistic - don't say $56. Not gonna happen.

An engagement ring is going to set you back a few bucks. You will probably have to save up for a bit or tap into existing savings. It's a big purchase - and an extremely important one.

So set a budget that you can afford. Many people try to spend about two months salary, but that isn't always possible. You might have a lot of other bills that you are responsible for - it simply isn't possible for everyone to fork out that much.

That's fine - don't worry about it. You can find gorgeous rings at affordable prices. It's all about getting the most for your money.

However, I do suggest that you spend at least $1,000 on this ring. She'll wear it forever; it's a symbol of your love and there should be some sacrifice involved in buying it. $1,000 is pretty low as far as price tags on engagement jewelry goes. However, you can make even this amount go a long way if you shop wisely.

You can go to my website to read my Diamond Buying Guide. This guide will give you a lot of great information on buying the best engagement ring while staying within your budget. My guide helps you to get the most diamond for your money.

Keep the setting simple - 14 carat white or yellow gold. When you're on a budget, avoid spending too much on the setting - you can skip 18 carat gold or platinum. Your budget should go primarily towards the diamond itself.

For the diamond, the key is getting the biggest size rock for your pricerange. Diamonds are graded in a number of different categories - the diamond guide I put together shows you exactly what combination to go for when you're on a budget. Without this information you will either waste a bunch of cash or get a low quality diamond.

I hope you find that dream ring of hers and that it doesn't break the bank! Remember, you aren't looking for a cheap engagement ring - you are looking for an affordable engagement ring;) Happy hunting!