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'Don't spend a bunch of money': Money-saving tips for Valentine's Day

Posted at 6:17 PM, Feb 01, 2024

MCLENNAN COUNTY, Texas — Total spending on Valentine’s Day this year is expected to break records. The national retail federation says that it'll reach $14.2 billion.

  • Darrel Abercrombie teaches credit building classes, and while you want to show your love, he says you shouldn’t over spend on commercial holidays.
  • Some locals say they would spend between $50 to $100 on a Valentines day gift.
  • Another way you can save on Valentine’s day, is by staying in and cooking dinner or making a card instead of buying one.

BROADCAST SCRIPT:

“I show my love every time I make a light bill payment.”

“Valentine’s Day is a day where you figure out how much you love someone and what you will do for that person,” Lawson Bennett said.

Putting a price on love.

“Dinner would be $100, somewhere around there."

“I spent about 50 to 100 dollars on him.”

Darrel Abercrombie teaches credit building classes, and while you want to show your love, he says you shouldn’t over spend on commercial holidays.

"I just ask people, just be careful, you know — be smart. It doesn’t necessarily have to be roses, it could be lilies, it could be other kinds of flowers,” Abercrombie said.

But for those who like to keep it traditional, Reed’s Flower Shop is seeing Valentine’s orders ranging from $45 up to $500.

“Roses are going for $100 or $110 a dozen if they’re wanting something special,” Debbie Reed said.

But like almost everything else, it looks like inflation is driving people to spend more this holiday.

“Everything costs more — the vases, they’re harder to get, the freight alone is what’s killing me,” Reed said.

And to keep you from sinking in debt, there are other ways to feel the love in the air.

“Use your credit card rewards to buy gifts, things like that, you know the main thing is, don’t spend a bunch of money on one day — we’ve got 365 other days to go,” Abercrombie said.

Abercrombie says another way you can save on Valentine’s Day, is by staying in and cooking for dinner or making a card instead of buying one.

Total spending on Valentine’s Day is expected to break records this year.

The report also says that the average consumer is expected to spend about $185 on the holiday.

That's about eight dollars more than the average, over the last five years.

Purchases for an evening out, clothing, flowers, and jewelry are all expected to be higher than last year.