“Matters of the Heart and Pocket”
It’s finally February, the month of Love to the rescue, after a “very long year called January”. 14th February is 2 weeks away. The fuss associated with Valentines Day may sometimes lead to social pressures for some people. What to do? Below are some financial and general tips for celebrating Valentines Day and any other special day or holiday.
1. Save up
If you’re looking to spend on valentines day each year then there should be a commitment to saving up, say on a monthly basis towards that occasion. It is more prudent to save towards it than hitting your one month income with that expense
2. Make a plan/budget
Do not be compelled to spend or even overspend. No matter how you choose to celebrate, be sure to check your budget allocation before making commitments to expensive outings and gifts.
3. Avoid Impulse buying
Do not be overwhelmed by the occasion to buy anything and everything. Take your time, have some thoughts behind what you want to get for your partner, compare prices and make good informed choices.
4. Do not go into debt for the sake of celebration
For those who have credit cards make sure you’re not going into debt because you want to buy a very expensive gift for your partner just to celebrate a day and ending up using months to pay back. Simply put: Spend wisely.
5. Skip the Day not the Tradition
You do not have to necessarily spend on buying a gift or going on a date on 14th February. Note that many restaurants and shops actually inflate their prices around these times. You can plan to have your special dinner some days later. This will enable you make some savings on the amount you were going to spend.
6. Be honest and accountable to your partner
It’s important your partner gets to know you for who you are. Do not go borrowing to impress him or her. Spend within you means i.e buy/gift what you can afford. Communication is critical in such situations.
7. Manage Expectations
You may test the waters by dropping a few hints on Valentines day ideas. It may shock you that as you’re planning a big hangout or dinner, your partners may prefer a simple curling up in the couch and ordering a box of pizza.
8. Be reasonable
Do not overly expect from your significant other considering their current situation. For example, expecting your student boyfriend or girlfriend to buy you the latest iphone model as a gift when you clearly are aware of their financial situation.
9. Do not compare what you bought or what you got from your partner to others
Once you start comparing yourself to others, you may end up doing too much or too little. Also comparisons can lead to tensions and not appreciating your partner’s efforts.
10. The gift of time
A very inexpensive yet impressive gift is time. Instead of spending huge sums of money, commit to spending quality time together. Keep it simple like watching a movie, karaoke at a bar or restaurant.