Celebrating Valentine’s Day can get expensive between the lavish gifts and fancy dates that have become customary for Feb. 14. And this year’s celebrations will likely put an even bigger dent in your wallet than usual thanks to the rising costs caused by inflation and supply chain issues.
“Almost every Valentine’s Day cost you can think of will be more expensive,” said Kristin Myers, editor in chief of The Balance.
A dozen hybrid tea roses cost $12.42, a 22% increase from last year, according to The Balance.
The price of candles has increased 3% from last year, Myers said.
A 12-ounce box of assorted chocolates now costs $11.99, a 9% increase from last year.
“If you think you’ll save money by staying home and cooking your loved one a romantic meal, you’re wrong,” Myers said. “Some of the largest jumps in price can be found in the supermarket. Filet mignon is 154% more expensive than last year.”
The cost per pound is now a whopping $34.21.
Lobster is also more expensive than last year, with a 25% price increase, Myers said.
How To Save Money on Valentine’s Day Expenses
While you may end up spending more on your romantic meal this year, you can save some money by getting creative with your gifts.
“You can still find better deals in experiential gifts than elsewhere,” Myers said. “Consider movie tickets or even travel — basically any gift that isn’t a physical product impacted by supply chain constrictions and price increases. And of course, if you want to give a gift that keeps on giving, consider buying an investment for your loved one. Stocks and even NFTs are always a holiday gift option, and can be a great way to get someone started on their journey to building wealth.”
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