Valentine’s Day is right around the corner so that means answering the question, “What to do for my significant other?” Should you bother with chocolates and candy hearts? Or should you be more sophisticated with a dinner reservation at a fancy restaurant and tickets to the ballet? Maybe you’d opt to surprise your loved one with a romantic trip or get them that expensive gift he or she has been fantasizing about.
It seems that no matter how you choose to spend Valentine’s Day you will probably be spending some money. Last year Valentine’s Day spending broke records, reaching about $19 billion in America alone. To most people in love, this figure seems to make sense. After all, if you want to show someone you care, there is no better way to do it than with material goods, right?
Actually, love doesn’t depend on exclusive restaurants and diamond jewelry. You absolutely can foster romance without depleting your emergency savings.
Valentine’s Day Tips to Save Money
Whether you have been with your sweetheart for years or you are just starting a budding relationship, you can celebrate a money-smart Valentine’s Day by following these tips:
It’s important that you talk to your valentine about your financial situation. Though money might not buy love or happiness, having enough is crucial to maintaining stability in your relationship.
If you want to be fully committed to your partner, you should know for certain that you share the same financial values. In fact, one researcher found that arguments about money early in a relationship was the number-one predictor of divorce, beating out disagreements regarding sex, children, and in-laws issues.
To avoid any money-related strife this Valentine’s Day you should be open with your loved one about your finances. You both should be honest about your income, your savings accounts, your debts, and your spending habits. You should also explain your strategies for building wealth and reducing debt, like using balance transfer credit cards to avoid high interest rates while paying down your debt. Then you can work together to achieve your financial goals.
Before either of you has time to form a picture-perfect idea of your Valentine’s Day, you should sit down and talk about what you can and cannot afford to do. Once you conclude your conversation about finances and agree to feasible spending and saving strategies, you can begin to examine the possibilities for your Valentine’s Day fun.
Once you both understand your financial limits for the holiday, you can develop reasonable expectations and avoid feelings of disappointment.
Valentine’s Day is a holiday which means it is entirely appropriate to indulge in the name of romance. However, you can mitigate the costs of your splurge by drafting a budget and dividing costs between the two of you.
You can divvy up the expenditures based on activity (e.g. you buy the fancy dinner and your partner buys tickets to the fancy show) or you can go Dutch, each paying for your half of the Valentine’s Day adventure. You can even split the costs of romantic gifts by choosing to buy a single item that benefits you both.
With a little work, you can engineer a beautiful, intimate Valentine’s Day celebration without opening your wallet. Romance is more dependent on ambiance and attitude than expense, so it is possible to transform your home into an exceedingly love-filled space. You can decorate with candles, play romantic music, cook your loved one dinner, watch a romantic movie or cuddle up next to a warm fire.
Your loved one might be delighted by one-use items like flowers or candy. However, these gifts die or dissolve in a matter of days. Instead, consider purchasing something that your sweetheart will use for years to come. Not only will your investment last, but your beloved will remember you every time he or she sees your gift.
Valentine’s Day is a special day to tell your special someone how much you care. But it doesn’t have to break the bank. With some communication and planning it can turn into a special day that you will both appreciate.
Questions: What do you plan to do for Valentine’s Day? Do you spend a lot or a little? What’s the best gift you ever received on Valentine’s Day?