Will Inflation Ruin Romance in the Gem State?

Let’s face it. Romance isn’t for the faint of heart. Nor is it for the wallet-weary. Not to say Valentine’s Day on a budget isn’t possible, but it can take some serious thought. Budget means no quick trip to the sparkly stuff store. You’ll have to consider your special someone and what will make them say Awwwww, because Ooooooooo is not in your price range.

How Valentine’s Day Can Be Trouble

Many people have just finished payments to catch up on their over-indulgent spending for the Christmas holiday. Then BLAM!, it’s Valentine’s Day 2024. Though gas prices are down (thanks election year), inflation has taken its toll on ones who would pitch woo. In a survey taken by WalletHub, 46% of Americans are making smaller plans this year.

What Do People Plan to Buy for Valentine's Day?

Who Will Spend the Most Money on Valentine’s Day?

Is it more expensive on Valentine’s Day to be someone trying to begin a relationship, being in a young relationship, or a long-established relationship?

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Trying to get a foot in the door to start a relationship can be tricky. You want to be noticed but don’t want to overwhelm your prospective date. Too big of a gift can seem like a big commitment upfront. Too small a gift feels like a last-minute afterthought. Just consider this, 60% of Americans think that spending irresponsibly is worse than bad breath.

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Being in the early stages of a relationship is like trying to traverse a minefield. There has to be a balance between keeping someone’s interest and trying to seem like a responsible spender. Do you take a trip or give a big gift? How much is too much? About 1 in 3 people surveyed think that Valentine’s Day is worth credit card debt, but more than 1 in 3 wouldn’t marry someone with bad credit.

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Couples who have been in a long-term relationship may find themselves complacent. But to keep a spark alive, sometimes a small surprise can be a welcome change. But after years spent together, will it take more money for that special twinkle? Realize that 24% of Americans aren’t even thinking of a Valentine's gift this year.

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What kind of dinner should you have on Valentine's Day? A hearty one.