The most misunderstood of the 4C's is carat. Carat refers to a diamond's weight, not its size. You could have five one carat diamonds and they can all have different dimensions. The cut rating plays a big part in how big a diamond will actually be. Thus it is important to consider cut and carat together; a larger carat diamond with a poor cut grade can appear smaller than a smaller diamond with a higher cut grade.
To maximise your budget consider buying just under the magic numbers of 1 and 2 carat. Buying a 0.90 ct stone rather than a 1 ct stone will cost significantly less and the size difference will be minimal. Come talk to us and we will explain in full the benefits of buying just under!