The price of love

By Staff | February 13, 2015 | Last updated on February 13, 2015
2 min read

If you have clients who are single or dating, let them know that impressing and marrying that special someone can cost more than $50,000, finds a new RateSupermarket.ca survey.

For the third year, the website crunched the costs that are typically associated with a one-year dating period, a one-year engagement and an average wedding.

And, overall, it found the price of romance has risen 11.4% year-over-year.

In a breakdown, the website explains one-year dating periods often include:

  • up to 50 dates that cost between $15 and $200 dollars each (about 12, on average, are fancy dates, while the rest are coffee or movie dates);
  • weekend getaways that cost a few hundred dollars each;
  • Bigger annual vacactions that cost more than $1,000/person; and
  • Small expenses such as flowers and gifts for special occasions, such as anniversaries and Valentine’s Day.

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Then, one-year engagements can include all of costs above, as well as costs of buying engagement rings and throwing celebratory parties. Finally, the average wedding in Canada costs more than $31,000, according to 2014 Weddingbells survey.

For a full expense breakdown, click here.

“As the cost of food and travel [increases], especially amid today’s low currency environment, our findings underscore the importance of being financially prepared for life’s milestones,” says Penelope Graham, editor at RateSupermarket.ca.

Read:

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Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.