Financial tips for the perfect Valentine's Day

Financial tips for the perfect Valentine's Day

How much are you planning on spending this Valentine’s Day? It’s projected that $20.7 billion will be spent on Valentine’s Day this year. In fact, the average amount spent by each person will be $161.96, according to WalletHub’s 2019 Valentines Day Survey.  

Valentine’s Day comes with a lot of expectations in society today. In fact, it is one of the most expensive holidays of the year. Fifty-three percent of women say they would break up with their significant other if they got nothing on Valentine’s Day, according to the WalletHub Survey.  

So where does that leave you this Valentine’s Day? Is it worth it to go into credit card debt to impress your significant other with an expensive gift? Or should you try to think more practical? Here are a few tips to avoid a royal catastrophe this year for Valentine’s Day.

1. Open communication. 

Communication always seems to be the root of relationship problems. If you don’t communicate your expectations in a relationship, your reality and expectations will likely never align.

If you feel comfortable talking to your significant other about finances, then go ahead and ask how much you should each budget for Valentine’s gifts and dining out this year. If you’re both on the same page financially, you won’t be disappointed by getting something you didn’t really want or stressed about how much that expensive gift is going to set you back.

Set aside a specific amount in your RentPlusMoney budget this month for Valentine’s gifts and activities. And try to stick to that budget.

2. Find out what your loved one really wants. 

43 million Americans will get an unwanted gift this Valentine’s Day, according to the WalletHub survey. The survey goes on to state that 2 in 10 people say that a gift card is the worst present you can get on Valentine’s Day while 3 in 10 people say that it’s the best gift.

Everyone has their own idea of what their ideal Valentine’s gift is. Some people want chocolate and flowers and some people want jewelry or electronics. Some people want to go on extravagant dates and some people want to cuddle up on the couch and watch a movie. Don’t just go for the obvious gifts because you feel that’s what is expected. Try to get a gift that will show your loved one just how much you love and care for him or her. 

3. Remember what the holiday is all about.

Many people believe they need to make grand gestures on Valentine’s Day because that is what’s expected. If you don’t make a big deal about how much you love your significant other on Valentine’s Day, then you’re obviously a bad lover, right? Valentine’s Day has basically adopted the model “Go big or go home.” If you aren’t showered with gifts on Valentine’s Day, you should dump him or her because you deserve more.

But many people have forgotten the true reason behind Valentine’s Day. It’s a day to celebrate the love and friendships you’ve been blessed with. It’s a day to let someone know that you care for him or her. It’s a day to be grateful for the opportunity to love and be loved in return.

So, this Valentine’s Day, try to avoid getting caught up in the holiday hoopla. Spend time with your loved one the way you both want to spend it. Give your significant other a gift that represents your love, whether it’s with a homemade card or a night on the town. And, we hope you all have a Happy Valentine’s Day!

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