The Well

Rachel Surman | Personal Finance,Blog

5 Ways To Save This Valentine’s Day

February 8, 2018

Love is in the air – or maybe that’s just the scent of over-priced chocolates and baked goods.

Whether you love Valentine’s Day or you strongly dislike it, here’s something we can all agree on: Valentine’s Day can get expensive. A survey from Ebates.ca found the average Canadian will spend about $200 on gifts for their partner.

For many of us, this may seem a little out of reach. If you’re on a budget, here’s how to have a cheap Valentine’s Day.

1. Opt for experiences rather than material gifts

According to the survey, the average Valentine’s Day gift costs $58 – and that doesn’t include dinner or drinks out! Instead of swapping gifts this Valentine’s Day, why not put money away for a future experience, such as travel?

If both you and your partner invest in something meaningful, like a travel or house fund, you’ll both be able to enjoy the benefits later.

2. Make a homemade-only giving rule

Making a homemade-only gift rule is a great way to cut expenses.

Homemade, personalized gifts that come from the heart are a great way to show off your creativity and save you money. For example, a book of “coupons” is a Valentine’s Day favourite! Write your partner a list of “coupons” – one week of laundry, a packed lunch, or one day of dish duty.

3. Give the gift of time

You know what we don’t do enough? Look up from our phones! You’re committed to your partner –not your electronic device. Put the phones away (after you get your free credit score from Borrowell, of course) and spend an evening enjoying each other’s company.

4. *Try* your best to plan ahead

We get it – life is busy! But in order to have a cheap Valentine’s Day, it’s important to have plans in place early to ensure you’re not paying the “Valentine’s Day” prices. If there’s something in particular you’re looking to get your special someone, it’s best to do so well ahead of time or wait until the holiday has passed.

5. Why go out when you can stay in?

Seriously – it’s Canada, people, and it’s freezing out! With the cost of meals at restaurants expected to increase in 2018, staying in for Valentine’s Day doesn’t seem like the worst idea. Cook a meal at home and enjoy a glass of wine (or two) together.

Bonus: checking your credit score with Borrowell!

Checking your credit score with Borrowell is 100% free. Plus, you and your partner can do it together – how romantic is that?

You can have a cheap Valentine’s Day, it just takes some thought and creativity. We hope these money-saving strategies will help you save for what’s most important. Have a happy Valentine’s Day!

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