It’s that time of the year again when you want to shower that special someone in your life with lots of love. Valentine’s Day can also be one of those more expensive times of the year, so it’s understandable you may not be looking to celebrate this year. However, we’re here to show you that Valentine’s Day on a budget is possible! Keep these tips in mind as you organise your gift and date ideas.
Set a spending limit
What’s the key to managing your financial situation? Budgeting! Just like how you work out a budget for all the other expenses in your life, it’s no different on Valentine’s Day. Keep your spending in check by creating a budget specifically for this special day and ensuring you stick to it1. Factor in the Valentine’s Day gifts you plan to buy as well as any expenses you’ll incur for the date you may be planning1. While you’re creating your Valentine’s Day budget, make sure you don’t go overboard and set yourself spending limits to stick to1. This might take a bit of preparation but once the day rolls around, all you have to do is sit back, relax and enjoy!
Opt for budget-friendly chocolates
You may be tempted to splurge a bit on your Valentine’s Day gift but remember, you just set yourself a spending limit for the whole day. Instead of going overboard and buying the most expensive Valentine’s Day chocolates, save yourself some money and choose chocolates that your significant other loves instead1. At the end of the day, it’s not about the gift, but rather the thought behind it that truly counts – gifts that are more personal and sentimental are hits anyway. You could even go the extra mile and make your own wrapping paper and card to top the day off1!
Don’t worry about the flower bouquet
Yet another Valentine’s Day tradition that could end up costing you more than you’ve budgeted for, this may be the year you try something different and reconsider buying a bouquet of flowers. Invest in a gift that will last longer this year and consider buying a plant instead1. Perhaps your partner has a green thumb or there’s a specific type of plant they really like – now’s the time to buy it for them! Not only is a plant better for longevity, but it could be something you and your partner grow and maintain together1. If you want to add another personal touch, you could consider painting or dressing up the pot some way.
Prepare a home-cooked meal
Forget going out for dinner, why not consider preparing yourself a home-cooked meal instead? Seeing as you’ll already have accommodated for your Valentine’s Day expenses in your budget, there’s plenty of opportunity to plan a special meal that will truly spoil your significant other1. Plus, you won’t have to be searching for and booking a restaurant weeks in advance and you have more privacy being at home, making it even more romantic1.
Use your streaming subscriptions
Skip the movies this year and the extra money that means spending and opt to make use of your streaming subscriptions instead. After all, you’re already spending money paying for these subscriptions, you might as well get your money’s worth and use them as much as possible1. Plus, the cinemas tend to be packed on Valentine’s Day, so not only do you save money, you get to watch the movie at your own leisure without possible interruptions from others.
Give the gift of memories
If you’re looking for a sentimental gift that is also budget-friendly, give the gift of memories instead. Why not put together a scrapbook of memories with your significant other or try your hand at poetry2? Perhaps you’d even like to print off and collate a photo album! Whatever you choose, DIY gifts are a great reminder of the time and thought that can go into gifts and they often don’t break the budget2.
Avoid overspending
What’s the true key to Valentine’s Day? Spending time with your significant other, of course! Make sure you keep this in mind as you plan your occasion – there’s more to the day than spending lots of money2. Sometimes, the simple, small celebrations with sentimental gifts are the ones that will stick in your partner’s mind. Most of all, don’t feel like you have to give into the pressure of keeping up with all of your friends; the day is about you and your partner after all2.
If you need help preparing for your Valentine’s Day on a budget, Queensland Country Bank has a range of budgeting tools that can get you started.
General Advice Warning: This information is intended to be general in nature and is not personal financial advice. It does not take into account your objectives, financial situation or needs. Before acting on any information in this article, you should consider the appropriateness of the information provided. In particular, you should seek independent financial advice.
Sources
1MyBudget, 2023, How to do Valentine’s Day on a budget – 6 cheap Valentine’s Day ideas, https://www.mybudget.com.au/blog/budget-buys/valentines-day-on-a-budget/
2Natasha Etzel, 2023, Here’s how much the average American plans to spend on Valentine’s Day, The Motley Fool, https://www.fool.com/the-ascent/personal-finance/articles/heres-how-much-the-average-american-plans-to-spend-on-valentines-day/