Love is in the air. You can see it all around you – be it in the decked up card stores like Archies or Hallmark or the heart-shaped chocolate ad from Cadbury Silk.

Valentine’s day might not be an Indian concept but we Indians have adopted the idea of this day of love with full gusto. How do you know something is important in India? Political parties get involved. In India, Valentine’s day is now also synonymous with self-proclaimed Indian culture protectors who chase after any possible V-day celebrators.

You might be wondering, what does all this have to do with money? Think spiked up prices at restaurants or your local florist. Everyone is out there to try and make a buck.

Personally, I don’t understand the big deal about celebrating one day of love. For me and my sister, Valentine’s day used to mean a chocolate each from my mum and till this day that’s the best part of V-day for me.

WHAT DO THE NUMBERS SAY?

While thinking about Valentine’s day, I decided to research a bit. I came across an interesting survey by the National Retail Federation (USA) which seems to have been conducted annually for the last few years.

This year Americans are expected to spend a record amount of money on celebrating Valentine’s day – an average of $143 per person and a total spending of $19.6 billion. These are the numbers from just 55{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} of the respondents who admitted to celebrating the day.

The biggest spending will be done on jewellery and on eating out. Candy remained most popular with 55{76b947d7ef5b3424fa3b69da76ad2c33c34408872c6cc7893e56cc055d3cd886} of celebrating folks planning to buy it followed by greeting cards and flowers.

Surprisingly, the spends were not made only on a romantic partner. Family members, friends, pets and co-workers also find a place in the V-day spending.

PLAN YOUR VALENTINES DAY

Valentine’s day doesn’t need to imply spending money

Valentine’s day does not have to be synonymous with spending money. In fact, is it not better to get away from the milling crowds at the restaurant or celebrate it in a much more meaningful way? One quick search revealed many such ideas:

• Movie night at home
• Romantic candle-light dinner at home followed by some dancing
• Put helium gas balloons to float in your room tied to love notes
• Make a photo collage and share it with your significant other
• Resolve to be nice to the other person by doing some tiresome chores around the house
• Write hand-written love notes and place them all around the house
• Have a romantic Whatsapp conversation during the work day

So, what is your plan for Valentine’s day this year? Let me know in the comments below or email me at aparna@elementummoney.com

Take your first step today. Sign up for the Elementum Money Weekly Newsletter to download the Financial Feminist checklist. Also,get nuggets of financial wisdom with our 3 posts every week, directly to your inbox. Have more questions, feel free to send any of them my way at aparna@elementummoney.com.

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