Planning to woo the lady of your dreams this Valentine's Day? Confirm with your wallet first as the average expenses linked with one-year of dating period, a one-year engagement and a wedding for couples is nearly 61,821 Canadian dollars ($44,645) or Rs.30 lakh, suggests an interesting study.
The expenditure linked with romance has increased by 22.8 percent since last year in Canada, said RateSupermarket.ca, a Toronto-based financial service company in its annual findings.
‘Increases in the costs of travelling and eating out have been exacerbated by the tumbling value of the Canadian dollar, and has become the major cause for the rise in romance-related expenses.’
"Increases in the costs of travelling and eating out have been exacerbated by the tumbling value of the Canadian dollar, and has become the major cause for the rise in romance-related expenses," CTV News reported, quoting the study.
"With consumer spending power on a decline, Canadians will see their dollars stretched on fancy dinners out and romantic getaways," Penelope Graham, editor at RateSupermarket.ca, said in an official statement.
Graham stressed that it is important that couples take these factors when planning for their future. "While not terribly romantic, it's important for couples to take economic factors such as the strength of the dollar into account when planning leisure activities and travel," she added.
A cost analysis conducted by RateSupermarket.ca to find the total cost of love revealed that an year of dating would cost $10,683.84 which includes 12 fancy dates for $3,330.50; 24 casual dates for $521.22; 12 movie dates for $570.96; two weekend getaways for $1,251.50; one beach vacation for $3,523; flowers for $140; and wardrobe for $1,346.66.
While an year of engagement can be priced at $12,164.76 including the innumerable dates, wardrobe updates and flowers, the wedding would cost a whopping $38,973, which will include the expenses of bride that can be pitched at $2,105; a measly amount of $637 for the groom; ceremony for $2,875; reception for $15,227 and a grand honeymoon for $2,423.5.