Valentine’s Day is one of the most exciting days in the year especially when it is a leap year (like this year!). Known as the day to celebrate love and couples, most people are thinking about what to do with their partners. New research found that spending for Valentine’s Day in the UK will top £431m this year according to moneyfacts. If you are starting to plan, you need to know how you will be organising your personal finances. Personal finances are critical to ensuring that your Valentine’s Day is special and stress-free. Take a look at our Peachy tips for how to manage your finances:
#1 Know how much you are willing to spend
Most people want to have a blank cheque on what they can spend. In reality, we know that you need to have a limit. Most Valentine’s Days tend to be a blessing for florists, chocolatiers and restaurants. If you plan to buy flowers, chocolates or going out to eat, you need to have a set budget. Don’t go over your budget regardless of how tempted you are to treat your partner. One way to save money for Valentine’s Day is to use restaurant vouchers. Instead of paying full price for a romantic meal, you can just use vouchers and you can still go somewhere that is special without paying full price. It is a good idea to set your Valentine’s Day budget before you go away for a weekend retreat, for example so that you don’t end up overspending impulsively.
#2 Look for affordable flowers
If you are looking for cheap flowers without spending a mint, you can always search online. Flowers are known for being expensive so going online to find cheap alternatives is a good way to have flowers for Valentine’s Day. Make sure that you order them ahead of time before Valentine’s Day!
#3 Use a debit card and cash
Credit cards can definitely tempt you to spend more money than you intended. This is especially true if you are someone who shops impulsively. Ultimately debit cards and cash in your wallet helps you monitor what you spend for Valentine’s Day without you going overboard. It can be hard to make yourself pay via cash when you can use a credit card. Always remember how you will feel after Valentine’s Day if you have been overspending – you won’t feel good. Minimise guilt by using a debit card or cash for your Valentine’s Day purchases.
#4 Save on gift wrapping
If you are getting a Valentine’s Day gift for your partner or someone special, it’s critical to save on extra costs that don’t need to be spent. You could save money on gift wrapping if you wanted to by buying a low-cost gift bag instead, so that you don’t need to buy ribbons and extra wrapping paper.
#5 Send a Valentine’s Day card via email
If you want to save more cash on Valentine’s Day, you can send an email card instead. Cards especially ones that are bright can be expensive to purchase. If you want to send a nice thought on a budget, you can do this via email.
#6 Look for good deals for physical cards
If you want to send a physical card, you should definitely go to charity shops or thrift shops that may have great Valentine’s Day cards without a price that can hurt. You can look for deals online or you can go shopping on the high street.
#7 Buy something nice for yourself within your budget
A new trend that is happening is more people are buying Valentine’s Day gifts for themselves. If this is something that you are going to do, you should always shop within your budget. Popular Valentine’s Day gifts include clothing, perfume and accessories.
#8 Choose package holidays if you are going away
Valentine’s Day weekend breaks are popular in Europe especially to cities that are inherently romantic such as Venice and Paris. If you are planning on going on a weekend away, you should always have your budget at the forefront of what you are doing. Package holidays can make everything cheaper for your holiday because you only have to pay one lump sum and then you don’t have other things that you need to pay for. Package holidays suit couples and families who just want to focus on themselves on Valentine’s Day.
#9 Cook a romantic meal in your home
Sometimes, less is more. You can make things even more special for Valentine’s Day without spending a lot of money. You could start by cooking a romantic dinner at your home which would save on costs of going out. Going out for a meal involves taking transport to the restaurant, paying for the bill and the tip. Cooking a meal in not only saves you money but it can feel even more special. This naturally requires planning but if you are up for the task, it can also be a financially rewarding thing to do.
#10 Buy a box of beautiful chocolates
What Valentine’s Day would be complete without a stunning box of chocolates? Look for boxes of chocolate that are on sale so that you can still give that warm Valentine’s Day feeling to your partner without paying luxury prices for expensive chocolates. Good deals are found in the supermarket for chocolate especially in the week that is leading up to Valentine’s Day. To make it extra special, look out for chocolate boxes that are beautifully packaged to make a good impression on your partner.
Research found that couples who have been together for more than 51 years are still celebrating Valentine’s Day though with less focus on money and more on the day itself. With this in mind, it’s important to remember that it is all about spending the day with your partner or someone that you care about. With good finance planning, you will be able to enjoy Valentine’s Day.