Love may be priceless, but saying "I love you" on Valentine’s Day isn’t cheap, according to the Edelman Valentine’s Day Index™, published annually by financial planner and author Ric Edelmen. He says that Cupid would spend $2,662 this year to score points with their special someone.
Granted, Cupid would be going all out here with the following Valentine’s Day gifts:
$4 – Valentine’s Day card from Hallmark
$42 – One pound box of Godiva chocolates
$80 – One dozen roses from FTD Florist
$179 – Gold heart locket and chain from Zale’s Jewelers
$500 – The whole works, a day at Elizabeth Arden Red Door
$99 – Silk nightie from Victoria’s Secret
$500 – Dinner for two at Ruth’s Chris Steak House
$399 – One night stay at the Ritz-Carlton
$859 – A surprise three-night escape to Caesar’s Palace, Las Vegas
Total: $2,662
Edelman suggests instead you "just tell your beloved, ‘I love you’ and put the cash into his or her IRA. Saving for your true love’s future proves that your love is eternal."
Great idea financially, but it’s hard to feel all warm and fuzzy about an IRA deposit. So if you really want to score points, at least put that deposit receipt in a box of chocolates. A heartfelt romantic note or poem is also a sweet way to show you really care.
How much are you spending for Valentine’s Day? What’s the best Valentine’s Day gift you ever received? Share your suggestions here.
Gerri Detweiler Credit.com's Personal Finance Expert, Gerri focuses on financial legislation, budgeting, debt recovery and consumer savings information. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of TalkCreditRadio.comTalk Credit Radio. Reach Gerri at creditexperts@credit.com.
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