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Love is in the air – and so are the expenses that go with it

09 February 2017

It's an age old question, how much should you spend on Valentine's Day? And with global day of love and romance just around the corner, the widely debated topic is no doubt again a conversation for many.

According a 2016 Suncorp research report, 60 per cent of couples jointly spend nearly $100 on their significant other while 40 per cent of the nation's taken population avoid expenses associated with the day of love and celebration – surprisingly, or perhaps unsurprisingly, men are bigger spenders than women.

For many of us, emotional-expenses like birthdays, anniversaries and festivities like Valentine's Day may fail to be top of mind when setting household budgets, even though by their emotional nature, can attract high volumes of spending.

Regardless of whether you are single or in a relationship, it's important to check in on your household budget around key dates like Valentine's Day to see if your budget really encompasses all of your expenses in your day to day life.

If your budget is falling short this year and you're looking to spoil your loved one for less – try these money saving ideas this Valentine's Day:

Get creative: Romance isn't always measured in dollars and cents. Thoughtfulness always goes a long way. A homemade dinner, a picnic or a sentimental gift can be just as powerful in showing someone you care.

Write IOU – Just because Valentine's Day falls on the 14th doesn't mean presents to be redeemed then. Write an IOU – for a time that's more convenient.  

Buy presents that contribute to your other goals -  Instead of gift giving to each other, pool your funds to buy something for the house that you needed anyway.

Manage expectations: In the lead up to Valentine's Day, discuss your budget with your partner and agree on gift-giving expectations. This tip can be applied to all celebrations (Christmas, birthdays, anniversaries). 

Media Inquiries: Ashleigh Paterson 07 3135 2562 or 0407 925 665

About Suncorp: Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers

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