Romance In, Spending Down

A few more of us plan to celebrate Valentine’s Day this year (63% of all adults) than last year (61%). However, the economy is driving down how much we plan to spend. According to the National Retail Federation, those planning to celebrate this year say they will spend an average of $103 on their loved ones versus $123 last year. Not surprisingly, the vast majority of people planning to celebrate Valentine’s Day say they will spend money on their spouse or significant other. What may be a bit surprising is that 17% plan to spend money on their pet.

Ah, there’s nothing like a heart-shaped chew toy to say, “I love you.” Seriously, though, please how the economy shapes your Valentine’s Day celebration this year. In the next issue of this eNewsletter, I’ll share the best ideas that combine romance with smart money management–an often-tricky balancing act.

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