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
