There are many, many deals out there on beautiful engagement rings, but you have to know how to find one, and going to the jewelry stores in the mall generally isn’t the right way to go about that.

First, you’ll need to do your research. It might sound boring, but it could save you hundreds or even thousands of dollars. You also need to understand what the different designations mean when it comes to diamonds. If you don’t know anything about cut, color, clarity, or carat weight, you should learn what these are and what they really mean for you – and your wallet – before you go buying a ring.

Next, check online. There are a lot of reputable places to buy jewelry online anymore, and you can also get some beautiful rings at pawn shops and estate sales. Not everyone is comfortable buying that way, but the standard jewelry stores, especially jewelry store chains, are often overpriced and you won’t get any deals there, even when they’re running big sales.