How To Spend On Special Occasions
January 31, 2023Super Bowl Sunday and Valentine’s Day are two of the most highly celebrated events of the year. Not only are they wildly popular, but they also happen very close to each other, making for a wildly expensive February for many people.
One estimate suggests that Americans will spend upwards of $16.5 billion on Super Bowl related purchases this year (2023). That costs around $85.36 per person, primarily on food and drinks. However, these figures do not include the cost of tickets to the big game, which start at $5,368 for the cheap seats and max out at $41,430 for the best seat. Yikes!
Valentine’s Day follows right behind Super Bowl this year, just two days later. According to the National Retail Federation, Americans are likely to spend another $26 billion on this event. Most of these purchases will be toward candy, cards, jewelry, dining out, and flowers, costing around $192.80 per person.
Following closely on the heels of the December holidays and with income tax filing time just around the corner, many household budgets will feel the pinch from added expenses. As you celebrate the big game and a night out wining and dining with your main squeeze, it’s important to remember that celebrations don’t have to also put the squeeze on your checkbook. Here are a few tips to make sure you don’t overspend while still enjoying all the festivities.
Blocking and Tackling with a Budget
You’ve heard this one before, right? That’s because it works. Creating a budget ahead of time is one of the best ways to ensure you don’t overspend, especially during emotionally charged occasions like Super Bowl Sunday, Valentine’s Day, birthdays, anniversaries, etc. It can be helpful to plan out all your expenses beforehand, so you know exactly how much money you will need for food, decorations, gifts, and other accouterments. Setting aside funds throughout the year for expenses you know are coming – holidays, birthdays, tires for the car – via a planned spending account can save you from going into debt or over-drafting your checking account.
Party in the Cheap Seats
Despite what billions of dollars of advertising tell us constantly, a holiday or special occasion doesn’t require much spending. In fact, many people find creative and interesting ways to have a good time without overspending and regretting it later; a sort of financial quarterback sneak, if you will. Here are some of their ideas:
| Game Day | Special Occasion |
| Suggest a potluck dinner (or party, tailgating, etc.) with friends. It may take a little coordination over who is bringing what, but no one spends too much individually on food and beverages. | Instead of splurging on a romantic dinner at an expensive restaurant, take a cooking class together and enjoy intimate candle-lit dinners at home (or on the beach, at the park, wherever). |
| Make homemade snacks, appetizers, etc. Don’t fall for glitzy pre-made items or pricey take-out. | Give homemade crafts or gifts. Not only are these truly personal, but you also get to explore your creative side. |
| Make your own decorations – this can be part of the party. Check out free printables (and recipes) on Pinterest. | Make fun “coupons” your significant other can “cash in” for favors or projects around the house. |
| Quiz your friends or host a Super Bowl trivia contest with fun dollar store prizes. | Enjoy movie night or spa day at home |
| Make Super Bowl Bingo Cards for the TV commercials. | Redeem those credit card rewards points you’ve been hoarding. |
Keep Emotions on the Bench
Lastly, keep your emotions on the sidelines when celebrating special occasions like Super Bowl Sunday and Valentine’s Day. We often tend to get caught up in the moment and spend more than we can really afford because we want to make our celebrations as grand or memorable as possible. Here are some ideas to help you stay mindful of your emotional state while shopping for decorations or gifts and avoid any expensive penalties by racking up unnecessary debt:
- Make a shopping list and stick to your game plan.
- Remember your budget – don’t go out of bounds.
- Cash is king (or, in this case, the all-star). Use it.
- Have a post-game spending review. What went well? What could you do better?
Ultimately, it’s important to remember that special occasions and holidays don’t have to be spendy for them to be memorable! By creating a budget beforehand, staying mindful of your emotions while shopping, and embracing your own creativity – you can easily celebrate and enjoy without breaking the bank or taking on expensive debt.