Wisdom is the principal thing

Valentines’ Day:

How much should I spend if anything at all? Has it become too commercial?

 Well, let’s start examining these questions by asking ourselves firstly:

 “What are my goals for this year?”

“What are my goals for the next couple of years?”

“Do I even have a goal?”

For instance, if you are 16 years old or thereabouts, you might say “A goal? I just want get out of high school!” Or you might say “hmm, I have got my first job, I might spend what I earn on the next concert coming up, or some cool clothes, or whatever comes my way”. If you are a uni student you might say “my goal is to try to pass my exams so I don’t have to stay in uni forever” or “I might have to spend on some books and maybe on going out with friends. Hang on, I also want to buy that jacket, but it will cost me a fortune”.  If you have a full time job whether you went to uni or not you may reply “My goal would be to enjoy myself as much as I can by travelling and going out with friends before I turn 30. Because after that I’ll be over the hill” or “I will try to save as much as I can to buy my first apartment or maybe a house”. If you have a house and kids “my goals are simple: nappies, more nappies, school expenses, kids expenses…don’t ask” or “we are saving for a holiday… and of course there’s the mortgage…”. If you have paid your mortgage and if you had children and they have gone their own way, you might say  “well, we are going on a cruise at the end of this year” or “I’ll just keep working until I retire and then do some jobs around the house and then…do nothing”.

We can go on and on talking about individual goals or specific demographics and probably end up with a whole book. However this little snapshot is an opportunity to see that our goals determine our spending. This is regardless of whether those goals follow a purposeful plan constructed by you, or are simply fabricated by the moment and circumstances that you live in. Your own goals would determine or at least can help answer our first question.  How much should you spend on Valentines Day?

It is important to consider also that we live in a world where MONEY is the tool of exchange on which our goals depend on to a great extent and subsequently also our quality of life. I can hear you saying “Yeah, yeah… Money, money.”  But relax. Money can be your friend too. If you manage it correctly it can determine how and when you will achieve your goals.

So money is related to your goals and your goals are related to you. So put in your mind that whatever you save and whatever you spend affects you! If you spend all that you earn in one go, and on something that doesn’t really line up with your goals, it may satisfy you in that moment, but understand that you will not achieve those larger goals… and probably not even your small goals!

Savings is the concept whereby a certain amount of money is accumulated aside of your normal day-to-day expenses. Savings will allow you, whether in short or long term, to achieve your goals. It might be that one day such savings will allow you to buy a car for yourself… Or maybe a great vacation… Or a even a nice house.

So if you are 16 or thereabouts, whatever you received, either by your work or money given to you, save at least 30% or more of what you received and spend the rest. If you are at UNI, although this is a real hard season for you to save, spend the money on your books first, then entertainment and then try to save a continuous small percentage. But do not stop saving.

So what does saving have to do with Valentine’s Day? A student might be able to buy a rose or something no more than $20 dollars on Valentines Day.   If you have a full time job and you are single, you certainly might afford to maybe go to a nice restaurant or buy a nice present for your loved one.  And this is all fine… but remember: do not spend one single pay on the night of Valentine’s.  Save first and then spend. 

If you have a mortgage, maybe with kids or no kids, you might not be saving at all at this stage as you’re in the first years of paying off your mortgage. However, you can still save if you put money aside to make extra repayments for your mortgage. (Which, aside, is probably the wise thing to do. Especially in the first years of your mortgage as it is when you pay the most interest - and such interest can equal years of earnings that you might be able to use for something else.) So you also can spend on Valentine’s Day, but bear in mind that you have made your extra repayment toward your mortgage first.

If you do not have much to spare, at least buy some sort of delicious take away for your partner and create a special night in. If you have just few years to pay off your mortgage, or maybe you do not have a mortgage anymore, then COME ON! A nice dinner in a very nice restaurant with a great present is the least that you can do for your loved one on Valentine’s Day.

So the above paragraph also answers our question. Should I spend anything at all? The answer is YES! Just bear in mind that what you spend does go against your saving.

One very important point to take into account is debt. DO NOT ENTER into debt to buy a Valentine’s Day present or on going out. Neither ever consider debt for anything that you think you need. The only debt that you should consider is when you buy your house as long as you are able to make extra repayments on your mortgage. But debt is another story that we might talk about another time.

Some people ask two questions together: Should I spend anything at all? Is Valentine’s Day too commercial?

Valentine Day is a commercial day and it should be. Of course, it needs to be commercial so that businesses are able to receive more income as they expect during this time. The stronger our businesses are the better for everyone. Businesses are the ones who employ us, that employ our friends and relatives. You might say “Neither my friends, relatives or I work in hospitality or retail”. But please note that one industry affects us all. For example, think about the people who deliver the goods to these businesses. They might drive trucks, so there are transport companies who employ people. The trucks have wheels, so there are tire companies who employ people. The food which is served in the restaurants is produced by farmers. The workers in all of these industries might have children that go to school. Those numbers allow us to keep our schools and therefore increase our demand for teachers and school uniforms, and so on. Ultimately, somehow that industry is more than certain to affect the industry that you or your loved one works in. We need commercialisation! It is good for the economy.

Now, there is no point in just making one day special or representing love in terms of presents or maintaining the mentality of ‘I have to give something’. What we give should not ever replace our love or represent our love. So if you buy takeaway instead of taking your loved one to an expensive restaurant, does it mean that your love is cheap? Of course not. Your love is the representation of how you share your life with the other person. But before we lose ourselves deep into the meaning of love, let’s just close our story with this:

Buy something on Valentine’s Day for your loved one - Something that goes according to your circumstances. And trust me, you will put a smile on your loved one whether you care about the economy or not.

 “But this I say: He who sows sparingly will also reap sparingly, and he sows bountifully will also reap bountifully. So let each one give as he purposes in his heart, not grudgingly or of necessity; for God loves a cheerful giver. And God is able to make all grace abound toward you, that you, always having all sufficiency in all things, may have an abundance for every good work.” 2 Corinthians 9:6-8