Financial Tips for Valentine’s Day Gifts

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In order to get your Valentine the perfect gift regardless of the price, some savings plans may be necessary prior to the actual purchase. Here are some tips to ensure that you have enough funds available to wow your sweetheart with a special Valentine treat:

Keep a good track record of responsible personal finance behavior. Pay bills on time with at least the minimum amount due, monitor your spending to avoid overlimit fees and try to keep your balance as low as possible, if not completely paid off. By keeping your remaining balance low, you open up additional dollar amounts before hitting your credit limit. No one wants to get slammed with a finance charge for spending over his or her limit!
Limit your spending to reserve funds for your Valentine purchase. Forego the chicken cheese steak for lunch, leave the second bottle of wine on the shelf and forget about that new TV you’ve been dreaming of… with a little self control in your spending habits, you will open up the gates to more affordable bill payments and less regret when putting bigger purchases on your cards.
Preplan how much you are willing to spend. Once you have determined what you want to spend on your Valentine’s gift, do not go over that amount. Before jumping on the Internet or leaving your home, figure out a set amount that you will spend and stick to it, no matter what!
Shop for Sales ONLY. Notice how stores start setting up for Valentine’s Day right after Christmas? Also notice how many items are drastically reduced or put on clearance after the holidays? Store management officials are smart enough to know that most people just finished spending all their money on holiday shopping.
Avoid impulse shopping, as it generally encourages buyers to just pick something and be done with it. Put some time and thought into the perfect present, select the total price you are willing to pay and stick to your guns. Bear in mind that Valentine’s Day embodies the passion and romance of a relationship and the intimate connection shared by two people in love; love itself is not defined by the numbers on a price tag.