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If you are in the market for a new relationship you better be saving up.
According to the 2017 Cost of Love study from RateSupermarket.ca, the cost of a new relationship through to the wedding is $66,444, up 7% from last year.
The study totalled the average costs of a one-year dating period, a one-year engagement period and the cost of an average Canadian wedding, including a honeymoon.
"While we understand that each relationship has its unique circumstances, finances have to be considered when preparing for life's milestones, including finding love," said VP Leonie Tait.
The “cost of love” could be going up because of the rising prices in restaurant food, which led to more expensive dinner dates and event catering for weddings compared to the prior year.
With the growing popularity of the "foodie" culture, food costs also go up, with people wanting to impress their dates and their wedding guests later down the line.
To find the total cost of love in 2017, fancy dinner dates, casual movie dates, getaways, engagement rings, engagement parties, wedding attire, venues, a honeymoon and more were all considered.
Despite the daunting dollar amount, you can save money while still wooing your love.
Early on, you can decide on budget between the two of you, especially when planning a wedding (before it gets out of hand).
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