Engagement rings are the most overwhelmingly purchased rings, but anniversary rings trailing a close second. The general benchmark for what you should spend on that ring for your sepcial someone is the equivalent of two months salary.

When buying that ring you’ll need to remember the Four C's!  The Four C's refer to carat, color, clarity and cut, these four characteristics determine the quality of the diamond. You’lll typically buy the diamond with the complete ring, although some independent jewelers might market them separately. The average cost for a diamond engagement ring is $3,250, but the average price for all diamond rings overall is $1,050.

Carat refers to the weight of the diamond. And it's no secret that the bigger the diamond, the higher the price. Color, in a white diamonds refers to how close the diamond is to white. Colorless diamonds, which get the highest grades of D, E, and F, are considered premium because they allow for the greatest reflection of light and, therefore, emit the most dramatic sparkle. They also command a higher price.

If you are looking to get a lower rated stone, somewhere around H,I,J, or K, this will drop the price dramatically, but the the diamond will still look good.The grades will range from F for Flawless, which is ,of course, extremely rare,  all the way to 3, or I3, which is the lowest clarity grade.

A diamond can still look luminous even if it slides below the four highest grades, and it will look even better because a lower-clarity stone will save you a bunch. Happy diamond shopping!