Valentine's day 2020 is this Friday, and although it's an entirely made-up commercial holiday, many couples agree it's a great day to celebrate their love. It's a day for cards, flowers, chocolate, and maybe even a ring. You don't want to be the spouse, boyfriend, girlfriend, significant others that forget to show your appreciation on the day. So how do you celebrate your love on Valentine's Day?
Did you know that the U.S. Census Bureau compiles a stat sheet for Valentine's Day? Here are some of the things they're tracking for Valentine's Day 2020:
2697 – The number of jewelry stores in the United States as of Valentine's day 2020. Jewelry stores offer engagement, wedding, and other rings to couples of all ages. For Valentine's day 2020, these stores are estimated to sell $2.5 billion in merchandise. The third highest monthly total, May ranks 2nd, and December number one.
29.9 and 28.1 years – Median age at first marriage in 2017 for men and women, respectively.
399 – The number of dating service establishments nationwide as of 2012. These establishments, which include Internet dating services, employed 2,348 people.
2.3 million – The provisional number of marriages that took place in the United States in 2019. That breaks down to about 6,200 a day.
$16.1 billion – The amount of money spent on chocolate confectionery products. Non-chocolate confectionery products total $10.7 billion.
Exciting stuff and who knew the U.S. government was crunching the numbers on things like this.
Valentine's Day 2020 Tips
Valentine's day remains one of the most popular days for couples to get engaged. I could not find any recent stats, but in 2016 six million people accepted a marriage proposal on Valentine's Day. Now that's a lot of money, being spent on diamond engagement rings. Let's hope everyone lived happily ever after.
If you are going to take the engagement plunge Valentine's Day 2020, I hope you skip the made up two-month salary guideline. A luxury jewelry giant shouldn't dictate how much you send on a ring. You should never buy something you cannot afford.
Avoid impulse buying when shopping for a ring. Do your homework and get the best deal. Not everyone wants diamonds, although I have never met any of those people.
Hopefully, you get the answer you are looking for, and if you don't, you certainly have options for discreetly selling your diamond ring. Let's hope when you pop the question, you get the answer you're looking for.
Frugal Valentine Ideas
Valentine's day or expressing your love for your better half doesn't need to have a big price tag. There are plenty of ways to stay frugal and show your appreciation. I don't like being forced into a single day to express my love for my wife. I do my best to show her gratitude all the time. But we do try to do something for one another on Valentine's Day. Here are some greats ways to say I you love and keep the budget under control.
- Make your own card – Have you read some of the sayings in greeting cards? If I wanted that much cheese, I would have ordered some nachos. Making a homemade/handmade card shows that little extra care. Personalized coupons for a massage, cleaning the house, or cooking are not a bad idea either.
- Cook a romantic dinner at home – Eating out is enemy number one in the personal finance community, and it's no different on this day. Beat the crowds and eat healthier at home. I'm sure your significant other will appreciate it. Make sure you do the dishes too.
- Buy flowers before or after February 14th – I try to buy flowers for my wife often during the year just to let her know I'm thinking of her. This takes the pressure off me and my wallet on Valentine's Day. Roses are much cheaper any other day. Sending a random dozen roses to your significant others will really make someone's day. Sending them to her at work really makes her day, and might just invoke a little envy from co-workers.
- Skip the chocolate in the heart shape box – My wife does enjoy chocolate, so instead of buying a random box that often has a few pieces she doesn't enjoy. I opt for a dark chocolate bar or two, which are her favorites.
My wife and I have decided to go-to lunchValentine's Day 2020 plans. We hope to not have to deal with crowds and save a little money. We then plan on watching a movie at home, and that's just fine for us.
What are your plans this Valentine's Day? What tips do you use to save money during this holiday?
Brian is a dad, husband, and an IT professional by trade. A Personal Finance Blogger since 2013 who, with his family, has successfully paid off over $100K worth of consumer debt. I want my three children to handle money better than I ever did at a young age. I have been teaching them as much as I can for the last 10 years. My goal is to continue to champion the financial literacy message and then why I created the “How To Rock Your Money” book. To help teenagers navigate their financial futures. I hope my family’s story of paying off over $100,000 worth of debt will inspire and motivate you to take control of your money. He blogs at BrianBrandow.com