From what I can tell from the ads that have assaulted me for the past month (since the Christmas ads died down), the best way to show love is by spending money, and showing off that you have more money to give later. If you aren’t spending a lot of money on someone you (claim to) love, then it is obvious that you do not love them (enough).
Yes, I have ranted about St. Valentine’s Day pretty much every year that I have written here (10 years?), but things seem to be accelerating in terms of your need to show love by spending money. I thought Christmas was bad enough, but now Love Day, is trying to surpass Christmas in conspicuous spending for your loved ones. These kind of vulgar displays of wealth always sickens me, but to each his own, I suppose.
Maybe, what is needed is to think about things that will financially help your loved ones (without bankrupting you). To help you not fall prey to the ire of your loved ones, here are some Financial Valentine’s Day ideas that are useful, and won’t give you diabetes (or an allergic reaction to roses)
- Put some money in your loved ones RRSP, if that doesn’t say love I don’t know what is. You want to make sure they can retire, and get tax refunds too, now that is saying love with cash, and I am OK with that one. How Banks haven’t hooked into this, since Valentine’s Day is in the middle of “RRSP season”, I have no idea. For the price of a dozen roses, you might get $40 in tax credits back, long after the roses have withered and died.
- Put money in your children’s RESP, so they can have the option to go to University or a useful post-secondary program. Giving your loved ones options in their lives is truly the greatest gift you can give them (and if that option includes them moving out of your house, and being able to support themselves, so much the better).
- Needless to say a little money in a TFSA could always brighten a lover’s view of you (OK, maybe not, but it is better for them than a box of chocolate candies).
- A more risqué present, which can be dangerous, is paying off your loved ones debts (or putting money towards it). Why dangerous? You paying off your lovers debts won’t help them in the long run, as they will just think that you will bail them out every time, so careful with this present. What you figured I’d suggest something out of 50 Shades of Grey? That movie’s release on Valentine’s Day is possibly the funniest idea I have ever heard.
Let me also recommend, that if you actually follow through with any of these ideas, I will not back you up, if you are crazy enough to get your Valentine’s Day gift ideas from a Financial Blogger, you can sleep in the bed that you made!