One of the most commercialized holidays - Valentine’s Day, is just around the corner. Stores are filled with stuffed toys, oversized boxes of chocolates, and glittery cards! Most people are looking to buy V-Day gifts. These are the same people who had exchanged Christmas/Hanukkah gifts just two months ago! They have spent huge money on New Year's Eve as well!
Every year, people get crazy to celebrate their love on Valentine's Day. However, this year might be a different scenario due to financial stress and pandemic.
Statistical reports reveal that people, on average, have spent about 850 dollars on Christmas gifts and shopping, which is a little higher than the previous year, 2019.
Millions of people in our country spend a huge amount to express love for their significant others. They dine out at costly restaurants along with exchanging cards and expensive gifts. Their craziness only creates a financial hazard and makes retailers and manufacturers richer!
When the calendar turns to February, the rate of gold jewelry hikes, and the flower prices go up by about 50%!
This year, the experts are predicting that Valentine's Day spending may exceed $25 in retail revenue.
As a report of NRF (National Retail Federation), last year, in 2020, Americans, on average, spent about $196 on Valentine’s Day, which was an increase of about 21% more than 2019. People in the age group of 35-44 had the highest average of expected spending of about $359.
As per the LPL Research in 2015 "the prices for common Valentine’s Day gifts increased by 1.3% in 2015, more than the overall rate of inflation. The firm also cites that the cost of a “night out” hasn’t dropped in the 15-year history of their Valentine’s Day study."
According to a Bankrate report, the four most common items purchased by people for the V-Day gift are a box of chocolates, diamond earrings, a dozen roses, and a bottle of champagne, price ranging between $50 - $400 on an average. Apart from these, people also spend on dining out, for about $100, on average.
It indicates that Valentine's Day ranks as one of the most expensive holidays in our nation.
To show off the love for the significant others, people are participating in the rat race. They are unaware that Valentine's Day is nothing but a promotional business strategy made by retailers and manufacturers.
However, people can change the commercialized mindset regarding the V-Day celebration.
- Why waste your hard-earned money on a holiday to celebrate your love materialistically?
- Why should you show your love just on this day of the year?
- Does exchanging gifts on V-Day symbolize that both of you are in a great relationship?
Why is Valentine's Day a waste of money?
Here is why it’s not worth spending a lot on this day.
It is not a significant holiday
Do you know it’s so hyped in the US that even single people go out with friends to celebrate on this day? Though going out with friends and socializing is a good thing to do, yet spending a lot on this special day is not advisable.
The items become expensive
It is known to all that many items like roses, chocolates, cards, heart-shaped gifts, etc. become pricier during this time. So, is it worth giving out the money to the shops to make your someone feel special?
You can spend on items you value most
Don’t you think it’s a better idea to spend money on getting out of holiday debt? You can save the amount and use it to become debt-free. By doing so, you can be stress-free and celebrate every day with your love. Just think once, won’t your partner be happy if there are no financial worries?
Most importantly, it is the thought of how much you love your partner or spouse.
A simple personalized note is enough to make your loved one feel special. Why not make handmade gifts to express your love? It is the true spirit of celebrating Valentine’s Day.
Moreover, it is more important to honor each other throughout the year instead of exaggerating your love on a particular day.
Valentine’s Day - An earning day
Are you astonished to know how Valentine's Day can be an earning day? Yes, it is possible.
As we discussed, every year, most people spend quite a lot on Valentine's Day buying cards, roses along with other gifts. So, you can grab this opportunity to earn extra by making these things yourself and selling them or taking up a part-time job in a suitable industry.
This infographic can give you an idea regarding how you can make Valentine's Day an extra earning day for you.
With proper help you can
- Lower your monthly payments
- Reduce credit card interest rates
- Waive late fees
- Reduce collection calls
- Avoid bankruptcy
- Have only one monthly payment