I suggest checking out the other options posted above. I''m a little short on time, but a short search at
www.jamesallen.com yeilded some promising results:
Princess 0.45 H SI2 Premium GIA 73.2% 73% VG/VG 1.01 $ 630
Princess 0.46 G SI1 Ideal GIA 70.9% 70% EX/GD 1.04 $ 820
Princess 0.53 H SI1 Ideal GIA 72.5% 71% EX/VG 1.00 $ 960 GIA
Princess 0.50 G SI1 Ideal GIA 74% 71% VG/VG 1.00 $ 1,020 GIA
Using the search button for a princess Ideal or Premium cut stone, .46ct to .55ct, G thru H in color (better than the Zales) and SI1 and SI2 (better than the zales) You could purchase the diamond from them and get a more inexpensive setting from a local jeweler. If you got the setting first I do believe James Allen will set it for you. I have purchased a couple settings from Jared and have been VERY pleased with them. They were low carat wieght, just a hint of stones, and priced very well.
Both of the above options would leave you enough money for a setting with a small amount of diamonds in it, and both stones are far and wide better than what you would get at Zales. I promise you, my first stone was from a mall store. And yes, under the lighting and wanting to get engaged and only having a budget of ''as cheap as we can get'' made me think it was the best we could do and good enough. Once the excitement of oh hey i''m engaged wore off, I realized being the sentimental person that I am, I had just chosen the one ring that would mean the most to me in my entire life with much less care than I should of. This ring isn''t just for the woman you''re with now, it''s for the woman she will become in the future. If this means as much to her as mine does to me, she more than likely will not want a new one. Get her something good, I have bought stuff from mall stores before that looks great freshly clean under bright lights. Got it home and wore it for a couple weeks and it looked horrible, not to mention you may be paying a small price but it''s still for low quality. With having so little money to spend wouldn''t you want to get the best you can for your hard earned cash?? I didn''t see another cheaper setting online like that one, but I can guarantee you $1,500 is too much for that ring. Why not even get the 2nd one I posted or even better and a clean, classic solitaire setting for $100 to $300?? That way you will have a diamond that''s worthy of your hard work, and will look gorgeous through all your years ahead.