Budget Tips for Valentine's Day

The day of Valentine's Day It's just around the corner – and whether you love or hate this date, it's a good reminder to examine the role money plays in your relationship.

Unlike that gift-wrapped box of heart-shaped chocolates gone in an instant, making some sensible financial decisions now could improve the chances that you and your partner will enjoy many happy years together.

So while roses are red, violets are blue, here are some financial tips especially for you – from Justmoney. This personal financial website provides the busy and digitally savvy with easy access to financial products, services and information.

First, it's important to understand your own feelings about money before you talk to your partner. “This topic can be very emotional for some, triggering deep-seated feelings like fear or guilt,” says Justmoney business manager Sarah Nicholson.

Some people believe they don't deserve wealth or feel guilty when they do well, knowing that others are struggling. The balance between emotions and money is important.

As in romantic relationships, opposites attract, and a big spender might team up with someone who is frugal. Tensions can increase when couples have different financial incomes, expectations, and priorities. This is compounded when they are faced with a large unplanned expense. It can also be the heartbreaking discovery that a partner has secret spending habits or is deep in debt.

As in personal relationships, communication is key. A regular date for money sounds scary, but it could be as simple as spending 10 minutes a week discussing family finances. Ignorance is not bliss, and it is important to establish a solid financial foundation. What if one of you loses your job, or a family business goes under, for example?

In your discussions about money, try to be open and honest, avoid judgment, and try to compartmentalize your financial challenges with other issues in your relationship.

It might be worth making an appointment with a financial adviser or family lawyer if you are considering a major change in your life, such as moving in together or buying a property.

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When you commit to each other, you need to know what assets your partner has and what debts they owe. Keep in mind that there is good debt, such as a home loan, while problems could be brewing if your partner has committed to a short-term, high-interest loan. Revenge spending is never a good idea.

Once you've agreed on how to manage your money wisely, how do you make a gesture of love without blowing the budget? this day of Valentine's Day, a thoughtful and heartfelt gift could mean so much more than reserving a table at an expensive restaurant. How about a picnic in a romantic location, with a handwritten note telling your partner what you love and appreciate about them? Find more tips on how to avoid overspending on the day of Valentine's Day here.

“Justmoney” also has a “deals” section where you can discover restaurant, spa and shopping deals, discounts and vouchers. This way, you can plan ahead for a special treat without breaking the bank,” says Nicholson. See offers for ideas