By Sydney Sekese, CFP® professional and member of the Financial Planning Institute
It is that time of the year again: romance is setting in and Valentine’s Day is rapidly approaching. Love it or hate it, in a few moments, Valentine’s Day is here. For the hopeless romantics among us, it is a chance to celebrate with tokens of love and romance.
Valentine’s Day is a special occasion to express your love and affection for your partner. However, it doesn’t have to be a costly affair that puts a strain on your finances. With some planning and creativity, you can enjoy a memorable Valentine’s Day without overspending.
But how do you celebrate Valentine’s Day without breaking the bank?
Plan ahead
Don’t wait until the last minute to buy gifts or book reservations. You may end up paying more or settling for less. Instead, plan ahead and look for deals and discounts online. You can also compare the prices and quality of different products and services before making a purchase. Planning also gives you time to think of thoughtful and meaningful gifts that suit your partner’s preferences and personality.
Set a budget
Before you splurge on Valentine’s Day, set a realistic budget that you can afford. Discuss with your partner how much you are willing to spend and stick to it. You can also agree on a spending limit for each other’s gifts or opt for a joint gift that you can both enjoy. Setting a budget helps you avoid overspending and getting into debt.
Be creative
You don’t have to buy expensive gifts or go to fancy restaurants to show your love. You can be creative and make your own gifts or surprises at home. For example, you can write a heartfelt letter or card, make a photo collage or scrapbook, bake a cake or cookies, or create a playlist of your favourite songs. You can also surprise your partner with a romantic breakfast in bed, a candlelit dinner at home, or a picnic in the park.
Choose experiences over things
Instead of buying material things that may lose their value over time, choose experiences that create lasting memories. You can spend quality time with your partner doing something you both enjoy or trying something new. For example, you can go for a hike, a bike ride, a movie night, a spa day, or a game night. You can also look for online vouchers or coupons that offer discounts on various activities and attractions.
Save for the future
Valentine’s Day is not the only time to show your love and appreciation to your partner. You can also express your feelings throughout the year with small gestures and acts of kindness. Moreover, you can save money for the future by investing wisely and building an emergency fund. This way, you can prepare for unexpected expenses and achieve your financial goals together.
If two people are in a relationship for the long term, it is prudent for the couple to be financially compatible. It’s commonly said that opposites attract. This is not always the case when it comes to financial matters. Imagine a relationship where one is a careless spender and the other is a saver.
