Roses Are Red. Violets Are Blue. There's a Cost for Loving You.
Finding “the one” is estimated to cost over $66,000, according to RateSupermarket.ca’s 5th annual Cost of Love.
How much does it cost to find your happily ever after? Your now and forever? Your one true love?
Some say, love doesn’t cost a thing, but according to the 2017 Cost of Love study from RateSupermarket.ca, the cost of a budding relationship through to full bloom is $66,444.09, up seven per cent from last year.
The cost of togetherness has increased in part because of our love affair with dining out. According to the Consumer Price Index, the cost of eating out increased 2.3 per cent in 2016, causing all those fancy dinner dates to pack quite a punch. Fancy nights out are not the only dates taking a financial beating; add in the extra food costs for a simple quiet evening with takeout in front of the television, catching up over coffee and dessert, and event catering for the engagement party and wedding reception and suddenly going for a bite, takes a bite out of your bank account.
After a year’s worth of dates ($11,537), a year-long engagement ($12,506), and a wedding that comes in at about $42,401 (good reason to think about getting wedding insurance) and couples might be looking for ways to say, "I do" to savings. Because, as you prepare to start your life together there’s more to plan and budget for, and first on the list for many couples is buying a home they can call their own.
There's no time like the present to have an open dialogue on budgeting and finances to prepare for everything the future has in store.