News & Resources

Turns out you CAN Put a Price on Love! It’s $43,842.08

Feb. 6, 2013
3 mins
A young couple shop online using their credit card while sitting on the couch

Toronto, ON – February 6, 2013 – A recent study by RATESDOTCA, Canada's independent financial rate comparison site, has uncovered startling evidence that, despite what troubadours and beat poets may tell us, love DOES indeed cost a ‘thing’… in fact,  many, many ‘things’. The sweetheart study crunched the costs associated with a romantic relationship from wooing to weddings and has determined that the list price of love is a wallet whopping $43,842.08!

To determine love’s perilous price tag, the research team came to a consensus on the basic elements of a modern relationship, then undertook extensive analysis into those hard costs to determine a final tally. Since all relationships are unique, median costs and timelines were used for the calculations.

The following is a breakdown of the ‘cost of love’ (based on a one-year courtship, one-year engagement, and average costs for a wedding in Canada):

The Costs of Courtship:

EXPENSE RESEARCH REVELATIONS QUANTITY AVERAGE COST PER ITEM TOTAL
‘Fancy’ Dates Nice dinners / theatre tickets / etc. 12 $160 $1,920
Movie Dates Two tickets + snacks 12 $42.95 $515.40
Casual Dates(substantially less fancy) – Take-out dinners- “Movie Date” at Home- Coffee dates 121212 $25$5.99$11.99 $300$71.88$143.88
Weekend Getaways 2 days and 2 nights, room + $100 in credit charges. 2 $426.46 852.92
“Apology” Flowers – delivered Only needed after ‘major’ disputes 3 $49.95 $149.85
New Wardrobe for him* For when she ‘improves’ him * Excludes a sweater (which his partner will buy him for his birthday and he will wear to all social outings.) $980.81 $980.81
Beach Vacation** **Travel is the ultimate test of your relationship mettle Winter, all-inclusive, 4+ stars $1,001.00 each $2,002
TOTAL Courtship $6936.74

One Year Engagement:

EXPENSE RESEARCH REVELATIONS QUANTITY AVERAGE COST PER ITEM TOTAL
Engagement Ring*** ***Cannot be used as a birthday, holiday or Valentine’s Day gift under any circumstances 1 $3,500.00 $3,500.00*
Another Year of Dates, etc. Repeat of previous expense, less a beach vacation since couple will be going on a honeymoon, and with only 50% of first year’s wardrobe ‘upgrade’ cost 1 $4,444.34 $4,444.34
Engagement Party Low-key, wine & cheese + desserts 1 $2,000.00 $2,000.00**
TOTAL Engagement: $9,944.34

Wedding Wallet Wallop***:

EXPENSE RESEARCH REVELATIONS AVERAGE COST PER ITEM TOTAL
Wedding**** ****The research team recommends one wedding only Venue= $9,255 Honeymoon= $5,470 Right/Bands= $2,740 Photographer=  $2,206 Bridal Gown= $1,847 Decor/Florist= $1,343 DJ/Musicians= $1,247 Limo= $753 Cake= $584 Jewellery= $483 Hairstylist= $467 Guest Favours= $452 Invitations= $384
TOTAL Wedding: $26,961.00
The Total Cost Of Love: $43,842.08

“We’re having a little fun with this, but all kidding aside, money problems are the most common reason for break ups*,” said Kelvin Mangaroo, President of RATESDOTCA. “It’s important for couples to have common financial goals, and to share a strategy for achieving them before committing to a long-term or lifelong relationship.” RATESDOTCA has also prepared an infographic further illustrating the financial effects of romance, which can be viewed here.

Source: The Vanier Institute of the Family: Divorce: Facts, Causes & Consequences, Dr. Anne-Marie Ambert

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