The cost of relationships

How much do you spend on love? As we approach Valentine’s Day, many of us may be starting to think about what we might like to get our other halves to show them how much we appreciate and care about them. Grand gestures, a romantic meal, or a weekend away can all be costly – and the time soon flies by. When it comes to being part of a couple, just how much do people spend when they’re in a relationship?

While nearly two thirds (63%) of Brits thought that single living would be more expensive or the same as for those with a partner, according to a recent survey by Lloyds Bank, being in a relationship could actually set you back £3,600 a year.

So, what do couples spend money on?

Eating out or ordering in

From Nando’s to Nobu, eating out can be pricey – particularly if couples do it regularly. With new restaurants opening all the time, or our favourite cafes around the corner, there are many temptations to go out and eat, instead of staying at home to cook. After a busy week at work, couples may be too tired to prepare dinner, instead opting to order in. According to research by KPMG, two thirds of adults in the UK enjoy ordering takeaways once a week.

Date nights

Committing to spending quality time together at least one night every week is important for a lot of couples. However, date nights usually involve activities, which of course don’t always come cheap. In order to make sure date nights happen, couples could choose to use a credit card to pay for a date, and pay off the balance in full as soon as possible to avoid any interest and charges. This time together doesn’t need to be expensive though – there are many cheaper alternatives, such as a bike ride or a picnic at home.

Birthday and Christmas gifts

When it comes to birthdays and Christmas, there’s no doubt that your other half is going to want to receive a little something – even if they claim that they don’t. Many individuals feel the need to go overboard in a relationship, blowing money on expensive items.

Bills

While you may be splitting the bills, one of you might be guilty of using all the hot water, while the other may beg for the heating to be kept on high all day. This can all add up – and therefore cost you a lot more than if you were living on your own.

While relationships can be costly, couples aren’t the only ones spending money on love. Single individuals all over the country are parting with (relatively small) amounts of cash in search of finding their soul mate via dating apps. The likes of DatingDirect.com costs £12.99 per month, while Lovestruck costs a minimum of £16.

Are you a romantic spender? Or do you try to rein it in as much as possible when it comes to love?