If you're intimidated by the process of engagement ring shopping, you're not alone. Most of us are worried about this large, important purchase. However, there are some ways you can save a lot of money and make the whole process much simpler.

First, here's something you probably already know: big diamonds are the most popular. This is one of the things that puts so much stress on ring shopping - we're afraid we'll have to spend more than we can afford. After all, larger diamonds come with a larger price tag.

Fortunately, there's some good news. You can find a larger diamond for a much smaller cost than you'd think. Just shop smart and learn about how diamonds are priced.

Here's an example that'll tell you more.

Diamonds are graded using four major characteristics - cut, carat, clarity and color. We'll check out color to see how you can get a larger diamond for less.

Diamond color is graded on a scale from D to Z, with D being the best quality. Determining a diamond's color is done under high magnification in a lab.

What's the catch? Diamonds that are D grade won't look differently from one that's four grades lower in quality - an H.

There's no difference at all between the two to the naked eye. Unless you look at both diamonds side by side on a white background, under magnification, you'll never see any difference at all. Even trained eyes can have a hard time telling the difference between I and D diamonds, though there's a little visible decrease in color quality if you know what to look for.

So what's the point? Why pay more for diamonds graded higher when you can't tell the difference between them and one that's graded lower.

The price difference between the two ranges is enormous. You could pay thousands of dollars more for a D grade diamond. Most jewelry stores encourage buyers to choose the highest grades, of course. Most people fall into this scheme, and pay a lot more than they need to.

That's just one example of ways to save money on an engagement ring. Picking a diamond that has a lower color grading but doesn't look different to the naked eye will allow you to buy a much bigger diamond for the same amount of money. Learn about diamonds and how to buy, and you'll get a good deal.