Avoiding the Valentine Day Credit Card Blues

You just caught up on all of your holiday debt. You paid off that credit card that helped you buy gifts for Mom and Dad, sister and brother, aunt and uncle, and, of course, your significant other. You just dug yourself out of debt and you’re feeling pretty good about yourself, aren’t you? But, guess what? Valentine’s Day is here and it’s time to pony up some extra cash for your boyfriend or girlfriend again. Can you believe it? Of course not. The time between Christmas and Valentine’s Day just isn’t long enough at all. Which is why you need to start thinking about V-Day before February, maybe even while you are still thinking about Christmas.

Budgeting for the best (or the best you can afford!)

With that in mind, you’re probably wondering how you can possibly think about buying gifts for one holiday before you even buy a single gift for one that comes before it. Well, this example merely helps explain why you should not buy gifts impulsively for either holiday. To avoid debt and “financial heartbreak” on the most loving of all holidays, you need to do a little planning. Are you thinking about popping the question this Valentine’s Day? If so, you need to decide this well before the month starts. In fact, you should give yourself up to a year to budget out enough money to buy an engagement ring. Are you trying to make up for forgetting about February 14 last year? Plan ahead. Have you had your eye on those diamond earrings (or have you finally caught the hint your girlfriend has been dropping for months now?!)? Plan ahead! And never use a credit card to purchase a diamond that you otherwise would not be able to afford. You’ll regret it later.

Is a diamond really “priceless”?

All that being said, you’re probably thinking, ‘A diamond is forever. I can afford to make the sacrifice!’ But, think about it. If you’re buying a gift for your significant other, you’re probably in a deep and meaningful relationship with this person. You going into debt means, you guessed it, they are going into debt. There is more to life than diamonds, just like there is more to life than houses and cars. Don’t let one purchase put you into debt for the rest of your life. Instead, think about your financial freedom and how important that is to you. Think about your life together with your husband or wife, boyfriend or girlfriend. You’ll certainly be glad you did! And so will they.