$120. It could be a car insurance payment, three full tanks of gas or (according to the National Retail Federation) the average amount Americans spend on Valentine's day. Shocking? Not really, once you add it all up!Valentine's Day, for most, is separated into two parts.
1. The Date
2. The Gift
Here are some ways to help you make great financial choices this year for Valentine's Day!
1. Valentine's day falls on a Thursday this year. Why not celebrate the following weekend, or even the weekend after? There are many benefits to doing this. Number one, you can scoop up candy, cards, and other sentiments at a hefty discount. Number two, you'll have an easier time finding a sitter for the kids at that time. Three, restaurants are notorious for overbooking on Valentine's Day; trying to get as many happy couples in and out of their seats as quickly as possible. You will most likely enjoy a much more leisurely experience when opting not to celebrate on Valentine's day itself.
Our friend and personal finance expert Greg Karp preaches the importance of spending on "experiences" vs. "stuff" - experiences last much longer! Create an experience by making your own Valentine's Day meal. You can eat exactly what you want AND without being rushed. Another upside: no 18% added gratuity!
2. The price of greeting cards has skyrocketed. But Shoebox can always be counted on for a variety of cute cards with a 99 cent price tag. A cheaper card does not hold less sentiment! It's what you're adding to the card yourself that counts. OR, dare we say it, make your own card!
3. Boxed chocolate can run you upwards of $40. More if you're springing for a fancy brand like Godiva. A dozen roses run in the same price range. Why not select one or two gourmet chocolates, along with a single rose? Regardless if you give one or twelve, flowers are going to die. And your partner will appreciate your respect of his/her New Years Resolution to lose weight by only allowing them an indulgence of one piece of candy!
4. The bottom line - what is Valentine's Day supposed to be about? It's a day for showing loved ones how much they mean to you. With all of the modern technology that's designed to help us communicate, sometimes we still don't express the sentiments we should. Taking time out of your day to tell someone you love them doesn't have to cost a penny.
Have your own idea for saving money this Valentine's Day? Tell us about it!
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of 1. avoiding penalties under the Internal Revenue Code or 2. promoting, marketing, or recommending to another party any transaction or matter addressed herein.
Securities offered through Valley National Investments, Inc. - an independent broker/dealer and member FINRA and SIPC.
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