Forget the diamond, try another stone to save money like Prince William

Prince William might have been on to something great when he proposed to Kate Middleton: He gave her an 18-carat sapphire, instead of a traditional diamond, according to Fox Business.

He probably wasn't trying to save money by using his mother's wedding ring, but choosing a ring with a stone other than a diamond is an easy way to save, according to the article.

Prince William's royal engagement helped promote stones other than diamonds, and that's good news for people who are getting ready to get down on one knee, Amy Elsinger, associate editor of WeddingChannel.com, told Fox Business.

She said the average cost of a wedding ring is $5,200.

"In a modern day and age, you don't need to necessarily pick a diamond," Elsinger told Fox Business. "Look at his or her jewelry and think if maybe they'd prefer something else. Champagne or cognac diamonds, blue sapphire, pink sapphires, emeralds and rubies are all less expensive."

Elsinger and Anja Winkka, site editor for TheKnot.com, gave Fox Business some other tips on how to reduce the cost of buying a wedding ring.

No. 1. Put a 'ring' around it: A ring that has a halo around the center stone is usually much more inexpensive than getting one big stone.

No. 2. Consider an Emerald cut: Emeralds have a bigger surface area that makes the top look bigger than a round stone, Elsinger told Fox Business.

No 3. Forgo eternity: Eternity rings typically have diamonds all around the band, but aren't usually recommended by trustworthy jewelers because they aren't sturdy and can't be resized.

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