Credit News

It’s that time of year again when children and adults alike exchange cards, candy, and small gifts, and singles are reminded, yet again, that they are single. Whether you love or loathe the holiday, there are a number of things you can do to take the sting out of Cupid’s arrow (or the lack thereof) this year.

Not-So-Singles
If Cupid has been kind to you, Valentine’s Day is an opportunity to show your special someone precisely how special they are to you. Frankly, this frequently involves spending (and not saving) money. However, planning for gifting occasions in advance can help take the pain out of showing how much you care.

Set up an interest-bearing savings product and contribute regularly to prepare for all the different gifting holidays and other special occasions. Contributing $50 a month to a savings account will yield over $600 annually. Pair consistent savings habits with an attractive interest rate and your savings efforts should increase significantly.

Saving for holidays can be a two-person affair by setting up a joint savings account. You and your sweetie can save money together for celebrations that you both could enjoy, such as weekend getaways to celebrate anniversaries and birthdays. Not only does this endeavor require cooperation from both partners, but it allows you to spend time together, which should be more important than money.

Singles
First, realize that there are worse things in life than being single. There, I said it.
Second, consider Valentine’s Day a chance to show yourself some love. (I mean, why not?) Others may be treating their significant others to a special day, but you, oh single one, deserve a special day as well. Since there are currently no nationally recognized Celebrate Single’s Day (it’s next on my personal to-do list, right behind curing cancer and solving world hunger), take this opportunity to treat yourself to a decadent chocolate ganache or maybe just some good ol’ “me” time.

For those of us who are a bit more finance conscious, perhaps a succulent savings account with a delicious interest rate would be friendlier to the waist and wallet alike. Take some “me” time to scope out online rate tables to find the most attractive interest rates. Despite the Fed rate cuts, there are still great rates available to fall in love with. Remember to use the sort feature available on many online rate tables to get a sense of what a competitive interest rate is in the current rate environment.

However, you decide to celebrate Valentine’s Day this year, be sure that it involves treating someone (yourself included) to something nice because everyone deserves a little love at least once a year.

Source: Informa Research Services