Roses are red, money is green, and lots of personal debt will leave your dating life lean.
What’s new: Canadians plan to spend less celebrating love this year, cutting down on the flowers, chocolates, cards and candies they give their special someone on February 14th.
- In 2019, the average amount spent on Valentine’s Day was $94. That price has consistently fallen since then, with lovebirds planning to spend $62 this year —a 39% decrease from the 2019 peak.
Why it’s happening: You used to be able to impress your date with diamonds and rosé, spending lavishly to show your love. But as people’s purse strings tighten, the qualities they look for in a partner have shifted.
A survey found that lousy money management lowers your chances of finding love, as personal debt has become the most significant dating deal breaker for men and women.
The second biggest personal finance pet peeve for women was a partner overspending irresponsibly. For men, “financial illiteracy” ranked second.
Why it matters: People seek stability in relationships, and in this economy, fiscal responsibility is desirable.
- An uptick in micro weddings for couples and the transition from dinner dates to casual coffee conversations for single people demonstrates the effect inflation has had on romance.
Here are some ideas for cost-effective yet thoughtful gift ideas:
Instead of a dozen long-stem roses, give a house plant—it will last longer (and hopefully, so will your love.)
Instead of sitting elbow to elbow with strangers in a crowded restaurant, choose a menu and make it at home together.
Instead of a high-end box of chocolates, make a batch of chocolate cookies.
- You can never go wrong with a handmade card written with a heartfelt tone.
Pro tip: Hit up gift stores on February 15th and grab all the novelty Valentine’s Day merch at a steep discount to save for next year.