Money Rehab with Nicole Lapin - How to Save $ on Valentine’s Day

Episode Date: February 10, 2022

Here are Nicole’s five biggest tips around doing Valentine’s Day the right way— and that’s the right way for your partner, and also for your bank account. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

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Well, it doesn't. Charge for wasting our time. I will take a check. Like an old school check. You recognize her from anchoring on CNN, CNBC, and Bloomberg. The only financial expert you don't need a dictionary to understand. Nicole Lappin. Valentine's Day is right around the corner.

In prior years, you might have gone all out on the roses, the teddy bears, the chocolates, the chocolate-covered strawberries, the jewelry, fancy dinners, all those little candy heart thingies. But that was before money rehab. Don't get me wrong. I don't hate on love or even on Valentine's Day. We hear all the time that Valentine's Day is a holiday hallmark made up to sell cards and chocolate. And sure, there might be some truth to that.

But if your partner takes Valentine's Day seriously, you're taking Valentine's Day seriously. That's just how the heart-shaped cookie crumbles. So here are my five biggest tips on doing Valentine's Day the right way. And that's the right way for your partner and also for your bank account. Number one, start a tradition. your bank account. Number one, start a tradition. Instead of going to a typical romantic candlelit whatever whatever dinner, why don't you perhaps start a tradition that you and your partner can do every year on Valentine's Day? The point here is to find something meaningful and cost effective. Once those two criteria are met, the world is your oyster. You could have a picnic in the spot where you first met.

You could make Valentine's Day a no social media day where instead of scrolling, you're spending undistracted time together. You could volunteer for an organization you and your partner believe in. You get the idea. Make it something you two can do together and look forward to every year. And that is priceless. Number two. Chocolate is amazing, but so is your significant other taking something off your to-do list. Has your partner been putting off returning some online shopping orders? Put your shoes on and maybe normal pants on and head over to UPS for

them. Is your partner the cook in your house? Well, then step in and channel your inner Gordon Ramsey. The best part, you can do something super meaningful without spending a dime. Number three. Skip it. I'll say it again. I don't hate love. I feel like I have to keep saying that on this show because sometimes it really feels otherwise. But what's better for your spending plan than to spend zero dollars and skip Valentine's Day altogether? But here's the important part. You and your partner have to agree on this game plan beforehand. Otherwise, I don't care who you are. you agree on this game plan beforehand. Otherwise, I don't care who you are, you will be in the dog house. So first, ask your bae, hey, is Valentine's Day important to you? If not, and like really not, not just saying not, but meaning like it is, you better fucking get me flowers, dude, then why the

heck are you celebrating it? Especially if you guys also celebrate an anniversary annually. Showing your partner you appreciate them is important, no doubt. But do you need to celebrate your anniversary and Valentine's Day every year? Check in with your partner and see if it makes sense to choose to celebrate either your anniversary or Valentine's Day. I mean, when you're in love, every day is Valentine's Day, right? Number four, be the mail guy. If skipping Valentine's Day isn't on the table and you feel like you do need to get a little gift, don't get it delivered. The typical Valentine's goodies, flowers and chocolate, all have hiked

delivery fees on and before Valentine's Day. So instead of getting flowers delivered to your house, go out and buy some yourself. And don't overlook the grocery store flowers. Trader Joe's has some grade A flower arrangements, if I don't say so myself, at a fraction of the price of a traditional florist. Number five, contribute to your joint retirement fund. As you know from your money rehab, you need to be making consistent contributions to your retirement fund. And cash for Valentine's Day spending should not be taking away from what you would be allocating toward your end game. So instead of getting each other candy that you'll devour in a day, or let's be real, maybe 10 minutes, take whatever money you were planning on spending for Valentine's Day and put

it into your loving retirement accounts. That might sound like a major snooze fest, but remember the symbolism here. You're investing in your future together. And as Paris Hilton would say, that's hot. For today's tip, you can take straight to the bank. Even if you don't want to skip the big day, see if your partner is cool with making Valentine's Day February 15th the day after the official holiday, aka when all the Valentine's Day goodies are on sale. It might not sound super romantic, but saving money? That sounds like happily ever after to me.

Money Rehab is a production of iHeartRadio. I'm your host, Nicole Lappin. Our producers are Morgan Lavoie and Mike Coscarelli. Executive producers are Nikki Etor and Will Pearson. Our mascots are Penny and Mimsy. Huge thanks to OG Money Rehab team Michelle Lanz for her development work, Catherine Law for her production and writing magic, and Brandon Dickert for his editing, engineering, and sound design. And as always, thanks to you for finally investing in yourself so that you can get it together and get it all.