The biggest news this week is all about love and money, as Valentine’s Day quickly approaches.
Valentine’s Day tends to be a major holiday for love birds all around the world to pop the question. The first step toward getting married also warrants some money moves for you and your future spouse to consider. After all, you’ll be facing together one of your largest financial burdens in your life — paying for a wedding.
The average wedding in the U.S. costs upwards of $25,000 and to prepare yourself to foot that bill, you should consider setting a budget together and having a frank and honest discussion about your financial goals and burdens together. Although it’s best to discuss your finances together before getting engaged, you might not know all the ins and outs of each other’s credit. A discussion gives you an understanding of where you both stand individually and together.
A recent study from our friends at RetailMeNot shows that the average American in a relationship plans to spend $226 this year for Valentine’s Day surprises and treats. While that may seem like a lot to some people, to others it feels like too little — it’s all relative.
The other big stat that may surprise you is that Americans spend an average of $5,200 on an engagement ring. That’s a hefty price tag, considering the wedding price tag of $25,000 and up.
Not only is the headline on this LearnVest article wonderfully punny, we love the projects the author recommends. After all, if you can’t spend hundreds of dollars on roses, chocolate and fancy restaurants, you might as well make something that comes from the heart.
The bouquet made of cupcake liners is a great, budget-friendly way to surprise your significant other with flowers, without actually paying through the nose for a bouquet.
Image: NS Newsflash, via Flickr