Jewellery is an essential part of every celebration. But at times, buying jewellery can be so expensive that you might have to burn all your savings and invest money into it leaving you with an empty bank account. But there are some simple ways using which you can buy jewellery without actually burning a hole in your pocket.
Timing
Gold prices are constantly fluctuating. You need to make sure you buy it at a time when the price can be slightly less. Summer and December are the best times to buy gold jewellery as the rest of the year the price might be more. During the wedding season, gold buying is at its peak. The prices drop since more people are buying gold. When you want to buy that lovely heart-shaped gold pendant, wedding season is the right time for you. You can also follow the gold rates to understand the trends and make your purchases accordingly.
Buying Online
If you are looking to make an investment as well as indulge in shopping, buying online might be the best idea. One of the advantages of buying online is, there are no middlemen and the online shops deal with the jewellers directly and the prices are comparatively lesser due to this. As much as 25% less than the price at the store. There are many reputed websites that offer online shopping services too. You could make use of this to your advantage.
Making Charges
When gold jewellery is made, the jewellers charge for making the jewellery. Most of the jewellery pieces come with a making charge attached to it. This takes into account the labour effort for making the jewellery. These prices are usually a percentage of the overall cost of the jewellery. If you are buying larger pieces of jewellery or if the gold prices are high, the making charges are high too. Therefore, check with your jewellery if the making charges can be waived off.
Buy Machine-made Ornaments
The making charges as discussed is lesser for ornaments that are made on the machines. Machine-made ornaments require lesser labour effort and the charges are less. In case you are buying gold for a gifting purpose or for a friend, buying machine-made gold will save you some money.
Try to avoid Embellishments
Whenever you buy gold ornaments, some of them are studded with precious or non-precious stones that are usually weighed along with the gold. Some jewellers do not provide the break-up of gold and stone weights and hence end up charging you more than it is needed. There is no way you can check the break-up on the jewellery therefore, it is better to avoid buying embellishments.
Buy-back options
If you are buying jewellery for someone else in your family, make sure that you check with the jeweller if they will be okay to exchange it in case the person does not like it. What if your wife doesn’t like that latest diamond pendant you have bought for her? So it is better to check if the jeweller will offer a refund if you return within a particular date without damaging the jewellery.
Buying on EMI
Another smart way to buy jewellery is to buy via the EMI option. You can use credit cards or any of the other EMI options that are available to your advantage. That way you can make the payments little by little every month and not invest a large amount in gold at the same time. Many online gold jewellery websites also offer the option of no-cost EMI where there are no additional charges for converting into an EMI.
Buying jewellery need not always be a burden. With careful planning and analysing the options, one can buy gold without having to shell out a lot of money.
