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How to Say, “I Love You,” Without Breaking the Bank

Around Valentine’s Day, your heart may be full but your wallet might be empty. Many Americans celebrate the day with candy (52%), greeting cards (45%), flowers (35%) and jewelry (18%). Before the chocolates are consumed and the roses wilt, these gifts will cost about $20.7 billion—a 6 percent increase in average spending over last year.1

Don’t let the cost of your expression of love stop you from reaching your savings goals. If you’re one of the millions of Americans with little to no money in an emergency savings fund or retirement account, consider lower-cost, creative ways to show you care.

Take these five Valentine’s ideas for inspiration:

  1. Take a flower arranging or painting class together. Even if the results are laughable, you’ll be making memories together.
  2. Satisfy your candy cravings by making chocolate truffles at home. They only take about 40 minutes of active work with several hours of cooling time. Find a simple recipe online.
  3. Dine in with a romantic meal you prepare together. Not much of a cook? Don’t worry. There are meal prep services that will deliver all your ingredients with complete instructions. Now that’s a stress-free alternative to dining out.
  4. Making a gift certificate for doing an activity together costs nothing but imagination. Choose something that your loved one enjoys but that you’ve been less than enthusiastic about.
  5. Forget about the guilt you typically feel spending hours on the couch. There’s nothing like a night at home binge-watching your favorite TV show or movies with your Valentine.

Valentine’s Day is a time to celebrate what’s special in your relationship. Identify what makes your relationship unique. Use those attributes to create fun, personal experiences without going overboard on costs. Going into debt isn’t very romantic. Being financially smart could be your best way of saying, “I love you.”

Build on this approach for Mother’s Day, Father’s Day and other major holidays this year. Keep costs low by starting to save now. Consider opening a Savings Builder account. You can earn the top APY tier by making at least one monthly deposit of $100 or more, or maintaining a minimum balance of $25,000.

The interest rate is much higher than at your everyday bank, and it’s compounded daily. You can rest easy knowing your money is FDIC insured. Plus, there are no account opening or maintenance fees to cut into your earnings.

Visit our website for more details.

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