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Meg spent two years working in the jewelry industry as a store manager for a retail and wholesale jeweler in Virginia. During that time, she studied under two Graduate Gemologists and went through diamond and gemology certification programs through the Gemological Institute of America while working closely with wholesale vendors, bench jewelers, appraisers, trade show specialists, and others within the industry. Over the coming weeks, look for more from Meg on diamonds, gemstones, and jewelry.

When selecting an engagement diamond, one of the very first things you'll need to consider is the size of the rock. Not only is size the most visible characteristic of a gemstone, it's also got the biggest effect on the price. So what do you need to know?

All diamonds are measured in carat weight. One carat is equal to one-fifth of a gram, and carats are divided into hundredths, called points.Diamond engagement rings are sold in all sizes, but the vast majority of rings sold in the U.S. are somewhere near the one carat range. Depending on the cut of a diamond, the actual surface size of a one carat stone can vary quite a bit, so you'll want to take the shape of the stone into consideration as well when you decide on the carat size you're looking for.

Diamonds are priced by the carat, but usually cost more per carat the larger they get. Per-carat prices usually jump at the "magic numbers," which are every 25 points. All other qualities being equal, a 0.99ct diamond may cost $7500 per carat, or $7425, while a 1.00ct diamond may be $8000 per carat, for an $8000 price tag. That's a big price difference for two gemstones that are almost completely identical. In my opinion, there is absolutely no reason to choose the more expensive diamond in this case. When shopping for a diamond, give the jeweler a range to work with. Dipping below those magic numbers by a few points can save you a lot of money.

My last bit of advice on carat weight for now is strictly anecdotal. In my years selling engagement rings, I saw so many couples where the woman was unwavering in what she wanted. She needed a BIG ROCK, and she would settle for nothing less than the maximum her fiance could afford. If you can't make your girlfriend happy without spending an uncomfortable amount of money, please think hard about why you're marrying her, and why she's marrying you. Diamond rings are beautiful symbols of a relationship, but the important thing here is the relationship, not the symbol.