By Greta Goosen
The month of love is here, and as ever shops are filled with bouquets and chocolates to mark the occasion. Given the financial challenges many of us currently face, 2022 offers an ideal excuse to rethink those Valentine's traditions and find more authentic ways to celebrate.
If you're coupled up, there are plenty of fun and financially savvy ways to mark the occasion. By cutting back on the candlelit dinners and expensive chocolates, you'll be able to make a more long-term financial commitment to one another, putting aside those all-important funds for milestone purchases like holidays and your own home further down the line.
If you're single this Valentine's Day, there's no better time to make a commitment to your own financial well-being. Whether you choose to set aside a predetermined amount each month to allocate to a savings account or opt to draw up a comprehensive budget, your commitment to saving is one of the best possible ways to show yourself some love.
Here are a few easy ways to cut costs this Valentine's season (and beyond) and to put the sexy back into savings:
Unleash your inner chef
Skip going out and bring the romance home this year. Not only will you save plenty by preparing your own special Valentine's picnic or home-cooked meal, but you'll also be able to avoid the crowds and curate the atmosphere, making the experience more tailored and intimate. Regular meals out can also burn a hole in your budget, so if you're a committed foodie, why not commit to improving your own culinary skills and instead work on recreating your favourite menus from home. Not only will you save plenty, but you'll likely have a lot of fun in the process.
Do date night differently
If giving the outside world a miss is out of the question, mix things up this year and consider romantic activities like tandem bike rides, scenic hikes, garden walks, romantic picnics, cooking classes or taking up learning a new language together while you save for that bucket list holiday.
Consider DIY gifts or acts of service
Sacrifice the flowers this Valentine's season and invest your time into a gift that really means something to your partner. The options are endless: give the old-school mix tape a modern facelift and put together a romantic playlist or get creative with DIY gifts like printed photo albums, which are likely to last a lot longer than those last-minute over-priced store-bought roses. You might also want to consider gifting your services in the form of weekly massages or daily dish washing. These thoughtful gestures won't cost you a cent but will definitely earn you plenty of brownie points with your significant other.
Double up on savings
A loving relationship can not only be rewarding at a sentimental level, but it can also have a positive impact on your wallet. Nothing says we’re in this together like coupling up your finances. When it comes to insurance for example, there are plenty of ways for couples to reduce those monthly premiums. For instance, by adding both your cars to a single insurance plan or by combining your home and car insurance policies, you'll be able to put aside more money each month to invest in the things that really enable you to live your way as a couple.
Whether you're a hopeless romantic or a Valentine's grinch, it's important to remember that there are plenty of cost-effective ways to express your love.
By cutting back on unnecessary spending and taking advantage of the many benefits of being coupled up, you'll be able to make a more significant and rewarding investment in your future together.
Greta Goosen is head of customer experience at MiWay Insurance.
PERSONAL FINANCE