Affordable Engagement Rings: The Best Budget-Friendly Rings for 2020

Shopping for an engagement ring for less than £1,000? Take a look at some of our favourite cheap engagement ring ideas that look anything but budget...

Cheap engagement rings

You might be relieved to know that the idea that you need to spend three months’ salary on an engagement ring is far from the truth!

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There are no rules around how much you should spend on an engagement ring, and if you’re looking for a cheap engagement ring then don’t worry as there are plenty of unique and beautiful designs to choose from.

If you want to keep things traditional then a small but beautiful diamond is within reach. Alternatively, you could consider other precious and semi-precious stones if you know your partner would like some serious bling but you don’t want to completely blow the wedding budget.

We’ve handpicked some of the best cheap engagement rings that all cost less than £1,000.

Engagement Rings Under £250

If you have an engagement ring budget of £250 or less then take a look at some stunning designs that will suit your budget.

Moissanite Trilogy Ring – £245, The Aladdins Cave

If you love the style of a trilogy ring but you don’t think your engagement ring budget will stretch to diamonds then a moissanite ring from The Aladdins Cave could be a stunning alternative. This gemstone is similar in appearance to a diamond but is much more cost effective.

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Marquise Diamond Engagement Ring – £232, JSV Concepts

We love the regal style of a marquise diamond and this elegant design also includes two small solitaire diamonds either side. You can choose from a white gold, yellow gold or rose gold setting.

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Naava Brilliant Solitaire Engagement Ring – £220, Amazon

Keep things classic and traditional with a simple solitaire ring. The timeless design includes a certified diamond mounted onto a 9ct white gold polished band.

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White Gold and Amethyst Ring – £200, Goldsmiths

If you’re looking to push your budget a little bit further then consider swapping a diamond for another semi-precious stone. This pretty design from Goldsmiths includes an eternity band of diamonds with a round-cut amethyst taking centre stage.

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Solid Gold and Simulated Diamond Engagement Ring – £175, Yefvm

If you know your other half wants the look of a traditional diamond then you could consider a simulated diamond. We we adore this modern oval-shaped stone mounted onto a solid gold band.

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Quartz and Diamond Ring – £165, Amazon

How stunning is this rose quartz engagement ring surrounded by a halo of diamonds? The pretty pink stone gives a warm glow and suits the rose gold band beautifully.

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Blue and White Sapphire Engagement Ring – £207, Amelia May

This blue and white sapphire ring from Amelia May is a beautiful option if you’re shopping for an engagement ring on a budget. An oval blue sapphire is nestled between two white sapphires and set on a 9ct gold band. It’s the perfect option if you’re looking for an elegant and timeless design.

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READ MORE: Sapphire Engagement Rings – Our Favourite Designs

Oval Morganite Engagement Ring – £238, Brilliant Forever

Morganite is beautiful alternative to a traditional diamond and it has a lovely peachy tone that gives a subtle glow. This morganite ring from Brilliant Forever has an oval centre stone that is flanked by six tiny solitaire diamonds.

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White Gold and Cubic Zirconia Ring – £180, Goldsmiths

This white gold and cubic zirconia ring from Goldsmiths would make a perfect placeholder ring – whether you wanted to propose with it then save up for a diamond ring or if you wanted to then have your other half pick out their own engagement ring.

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READ MORE: Rose Gold Engagement Rings – Our Favourite Dreamy Designs

Sapphire and Man-Made Diamond Ring – £195, The Aladdins Cave

This sapphire and diamond engagement ring from The Aladdins Cave features a man-made diamond – making it much more affordable than a mined diamond. The centre stone is sat between two deep blue sapphires and the ring is available in sterling silver or white gold.

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Engagement Rings Under £500

With an engagement ring budget of £500 you could choose a subtle diamond ring or look into other centre stone options to help your budget stretch further.

Jenny Packham White Gold Ring – £400, Goldsmiths

Yes you really can get an engagement ring designed by renowned wedding dress designer Jenny Packham for less than £500! This dainty design features a collection of baguette cut diamonds and we love the nod to 1920s jewellery style.

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Vintage-Style Moissanite Engagement Ring – £455, Amanda Fine Jewellery

Add some vintage style with this moissanite engagement ring. The cluster halo design is so unique and really pretty.

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Mini Icon Aura Diamond Ring – £440, Liberty London

If your budget won’t stretch to a large diamond then the same weight of diamonds cut into small sizes will always be more affordable. The style of this diamond ring from Liberty London will give plenty of sparkle without blowing your budget.

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I’d Be Lost Without You Solid Gold Ring – £421, Chupi

We love the sentiment behind this solid gold and diamond ‘I’d be lost without you’ engagement ring – the design is inspired by the North Star and is there to be your guiding light through life.

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Moissanite Engagement Ring – £256, Shy Gems Studio

If you think your other half would love an engagement ring that is timeless and elegant then this emerald cut moissanite set onto a sparkling eternity band is perfect for the sophisticated lady in your life.

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White Gold, Diamond and Opal Engagement Ring – £450, Ernest Jones

Opals – with their milky white appearance – are the perfect unique choice for an engagement ring. A pear shaped opal is surrounded by a halo of diamonds and sits on a 9ct white gold band (plus it’s a very affordable £450!).

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Gold and Emerald Engagement Ring – £490, Kirsty Taylor Goldsmiths

A pear-shaped emerald is encased in a yellow gold setting with this stunning design from Kirsty Taylor Goldsmiths. If you know your other half would like a unique yet timeless look then we think she will love this.

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White Gold and Diamond Illusion Set Solitaire Ring – £499, Ernest Jones

For a simple and elegant engagement ring under £500, this design from Ernest Jones could be perfect. A dainty 9ct white gold band leads to a single solitaire diamond in a delicately designed four claw setting that really helps the diamond sparkle in the light.

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Rose Gold and White Sapphire Engagement Ring – £350, Ring Only

If you’re searching for an engagement ring on a budget then swapping a centre diamond for a white sapphire will give you a similar look but with a much more affordable price tag. This rose gold and white sapphire engagement ring from Ring Only is a beautiful vintage style and is priced at less than £500.

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9ct Gold and Amethyst Guinevere Ring – £440, Alison Moore Designs

For an alternative style engagement ring, this 9ct gold and amethyst Guinevere ring from Alison Moore Designs is a beautiful choice. An elegant emerald cut amethyst sits in a four claw setting on a textured 9ct gold band. It’s the perfect choice if you know your other half wants something completely unique.

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READ MORE: Alternative Engagement Rings for Untraditional Couples

Engagement Rings Under £1,000

If your engagement ring budget is roughly £1,000 then a traditional diamond engagement ring is certainly within your budget. Alternatively, stones such as sapphires, rubies and morganite with diamond accents would also be a gorgeous option.

White Gold and Sapphire Engagement Ring – £750, Caroline Brook

If you know that your other half is looking for a unique engagement ring then forget the traditional polished band and solitaire diamond, this white gold rustic style ring is cast from a twig with a glistening blue sapphire as the centre stone.

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Brilliant Cut Diamond Solitaire Ring – £550, Goldsmiths

It’s hard to believe this gorgeous traditional style engagement ring from Goldsmiths is just £550. A 2.5 carat solitaire diamond is held in a four claw setting on a polished 9ct gold band.

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Uncut Grey Diamond Engagement Ring – £890, Caroline Brook

Grey diamonds are really starting to grow in popularity and it’s easy to see why when you look at this beautiful ring from Caroline Brook. A raw uncut grey diamond is encased with a four prong claw setting of 18ct white gold.

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Nature Inspired Engagement Ring – £815, Aardvark Jewellery

This rustic-style engagement ring features moissanite stones set into a rough finished gold band with intertwining leaves and twigs. Choose from a yellow gold, white gold, rose gold or platinum band.

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Emerald and Diamond Ring – £968, Aardvark Jewellery

Add some 1920s glam with this emerald and diamond engagement ring. A lab-grown emerald sits in the centre with tapered baguette diamonds and six dainty solitaire diamonds surrounding the stone. Choose from a yellow gold, white gold or rose gold setting.

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Gold Beekeeper Pink Sapphire Ring – £780, Alex Monroe

How stunning is this 18ct gold ring with a twinkling pink sapphire in the centre? If you know the love of your life wants an engagement ring with a difference then we think this garden detail ring – completed with a delicate gold bee – would be perfect.

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Delicacy Solitaire Engagement Ring – £665, 77 Diamonds

Brides who like to keep things simple will absolutely love this delicate design by 77 Diamonds. The stone is showcased with grace and subtlety, with its size and brilliance enhanced by a tapered band.

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Three Stone Diamond Engagement Ring – £891, Diorah Jewellery

This pretty engagement ring from Diorah Jewellery features a larger centre diamond with two smaller diamonds either side. You can choose from a yellow gold, white gold or rose gold band so you can choose the style that suits your other half perfectly.

READ MORE: Cushion Cut Engagement Rings – Our Top Picks

Fairtrade Gold and Diamond Engagement Ring – £785, Shakti Ellenwood

This certified fairtrade engagement ring from Shakti Ellenwood is created with fairtrade yellow gold and an ethically sourced diamond, so you can be safe in the knowledge that your ring is conflict free. A solitaire diamond is surrounded by 18ct yellow gold in this unique contemporary style.

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White Gold and Diamond Halo Engagement Ring – £799, Ernest Jones

If you’re buying an engagement ring on a budget but you still want some serious bling then an illusion setting or halo setting are the most cost efficient ways to make the ring appear bigger. This white gold and diamond engagement ring from Ernest Jones features an illusion setting around the centre stone and a halo of diamonds.

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READ MORE: Halo Engagement Rings – Our Favourite Dazzling Designs

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If you are still looking for your dream engagement ring then take a look at our ultimate guide to buying an engagement ring.