Love is going to cost you a pretty penny a new study confirmed.
The Cost of Love study conducted by Ratesupermarket.ca said that the price of finding romance has increased 22.8 per cent over one year.
The costs are based on a one-year dating period, one-year engagement period, and the average Canadian wedding.
“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,” said Penelope Graham, Editor at RateSupermarket.ca.
“With consumer spending power on a decline, Canadians will see their dollars stretched on fancy dinners out and romantic getaways. For couples planning significant financial milestones, this year may be especially hard on the wallet.”
On average one year of dating can cost you $10,683.84. That would include 12 fancy dates, 24 casual dates, 12 movie dates, two getaways, a potential beach vacation, and other expenses like flowers.
When you think you’re ready to commit the average engagement for Canadians is around $12,164.76.
This includes the second year of dates, the ring, and an engagement party.
After being committed for a while you and your partner are probably ready to pick a date and tie the knot. The knot is going to cost the average Canadian $38,973.
This includes all of the couple’s needs, the event, and the honeymoon.
Since the study debuted in 2013 there has been a 41 per cent increase on what love will cost a couple.
Ouch!
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