Valentine’s Day is one where many consumers feel pressured to buy the most elaborate gift for their one true love. The constant mall displays and commercials are encouraging Canadians to celebrate in this billion dollar holiday even if they are cash strapped. However for many consumers, debt is a major problem and it continues to get worse. Right now Canadians owe $1.67 for every dollar of disposable income according to Statistics Canada.
Canadians are not only knee high in debt, some keep piling on more debt and now they are struggling to keep up with their holiday bills. Throw the expectation to buy an expensive Valentine’s gift in the mix and some Canadians may be headed off the deep end of debt.
“Overindulging on Valentine’s Day when you are buried in debt will only make your financial situation worse. You may feel obligated to buy an expensive gift however if you cannot afford it, sit down with your partner to manage expectations,” says Jeffrey Schwartz, executive director, Consolidated Credit Counseling Services of Canada.
“Talking to your partner about their expectations for Valentine’s Day may not be the most romantic conversation, but it may save you in the end,” says Schwartz.
Many consumers rack up the most debt when they gift shop last minute for their loved ones. To ensure you do not reach for your credit card while shopping for the perfect Valentine’s gift, don’t let Cupid’s arrow pierce the well-being of your finances. You can celebrate Valentine’s Day without going into debt. At the end of the day, your lover can do without the overpriced chocolates and flowers; Consolidated Credit Counseling Services of Canada explains how:
Nothing can show your love and affection more than a series of sweet handwritten notes placed throughout your home. Your Valentine will enjoy finding loving notes of appreciation at home or even in their wallet or lunch kit.
Play some games
Feeling a little playful? Create a scavenger hunt for your partner. Your sweetheart will enjoy trying to figure the riddles out in order to get to their next clue.
Take an evening stroll
The evenings are getting a little brighter, perfect opportunity to go for an evening stroll with your Valentine. The crisp winter air will inspire you to celebrate your love over a cup of hot chocolate at home.
Dine in at home
Be a master chef for the night! Create an easy to make menu and let your partner choose something from the menu. Prepare the meal and serve it to them. They will enjoy your thought and effort more than any dinner out any day!
If your debt load is too overwhelming for you to manage and it is all you can think about day and night – it is time to get some relief. Don’t let your Valentine’s Day be ruined by a massive burden of debt. Give one of our trained credit counsellors a call at 1-888-294-3130 or go online to complete a free debt analysis. The debt you worry about today can be a distant memory tomorrow.