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RateSupermarket.ca

February 11, 2014 10:32 ET

Falling In Love? That'll Be $45,151.88

RateSupermarket.ca Research Study Finds Average Cost Of Romance Rising Each Year

TORONTO, ONTARIO--(Marketwired - Feb. 11, 2014) - The Beatles may have crooned "money can't buy me love", but it turns out those warm and fuzzy feelings do have a financial impact - $45,151.88, to be precise.

The research team at RateSupermarket.ca has calculated the most recent cost of amour in this year's Cost of Love study - and found it has increased by $1,309.80 since last year.

As all relationships are unique, the study is based on the average expenses associated with a one-year dating period, one-year engagement, followed by the average Canadian nuptials - and found from first date to tying the knot, Canadians are paying up large for puppy love.

Penelope Graham, Editor at RateSupermarket.ca, states that while the study is tongue in cheek, the end totals highlight the need for daily budget awareness and forward financial planning. "While you can't put a price on a personal connection, Canadians should be aware that they will incur expenses as a result of their dating habits and relationships, Graham says. "These costs in turn should be accounted for, along with the long-term impact ongoing relationships will have on a financial plan."

The Cost of Love In Canada

From wooing to weddings, Canadians are paying up large for puppy love. Check out the top expenses couples face from casual dating all the way to the big day.

One Year of Dates: $7,494.94
12 Fancy Dates: $1,884.72 Avg cost: $157.06
(nice dinners + theatre tickets)
36 Casual Dates: $489 Avg cost: $13.58
(12 takeout dinners, 12 coffee dates and a Netflix subscription)
12 Movie Dates: $515.40 Avg cost: $42.95
(movie tickets, concessions)
2 Weekend Getaways: $914 Avg cost: $407
(2 days away, 2 nights away, $100 credit card bill)
Beach Vacation: $2,426.66 Avg cost: $1213.33
Other Expenses: $1265.16
(Flowers: $116.48; Men's Wardrobe: $1148.68)
One-Year Engagement: $10,693.94
Another Year of Dates + 50% Wardrobe update: $4493.94
Engagement Ring: $4,200
Engagement Party: $2,000
Tying The Knot: $26,963
Pre Wedding:
Bands:$2,585
Invitations: $225
Jewellry: $535
Bridal Gown: $1,975
Wedding Day:
Favours: $510
Hairstylist: $485
Cake: $615
Limo: $875
Venue: $9,430
Budget For:
Decor / Florist: $1,478
Photographer: $2,300
DJ / Music: $1,250
Honeymoon: $4,700

About RateSupermarket.ca (www.ratesupermarket.ca)

Over 3 Million Canadians have found their best rate for personal finance products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is Canada's most comprehensive rate comparison site, offering visitors transparent access to the best mortgage rates as well as credit cards, bank accounts, insurance quotes and GIC rates.

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