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Top tips to cut the cost of Valentine's Day

9th February 2012 Print

According to the average loved up couple spends nearly £1351 on Valentine's Day each year and often on items that their partner neither wants nor needs.  With 28% of the UK population having less than £250 in accessible savings2 first direct has come up with five money saving gift ideas which will hit the spot without busting the budget.

It's the thought that counts: 5 money saving gift ideas

1. Instead of a dozen red roses buy one and write a heartfelt, personal poem to accompany it

2. Forego expensive restaurants and get your ‘Jamie Oliver' on in the kitchen

3. Skip the designer chocolates, buy cheaper ones and individually wrap them yourself

4. Rather than the latest MP3 player, channel your inner Lionel Richie and write a song especially for your loved one

5. Get rid of the kids for the evening, switch off the TV and spend some quality time together...

A recent survey by first direct found that Britain's top two financial regrets in 2011 were not saving enough (52%) and not paying off their debt more quickly (33%)3.  The direct bank argues that savvy savers will avoid splashing the cash on expensive, unwanted Valentine's Day gifts and instead use the money to improve their financial situation.

Bruno Genovese, Head of Savings at first direct commented: "It's becoming more and more important for families to really think about where they spend their money.  It makes sound financial sense for loved ones to save the money usually spent on big ticket items and go for the more thoughtful and less expensive handmade gift instead."