Don’t go broke for love

Romance may be in the air today, but once the rose-coloured glasses come off and the chocolate high has subsided, your clients may be a bit brokenhearted — about their savings.

Read: Love and marriage (and money)

For those who still need to grab a last minute gift, Scotiabank provides these tips.

• Don’t let cupid take over: Keep an eye on spending. By using online or mobile banking, you’ll see an accurate picture of how much you’re spending and where. If you’re going overboard, adjust and start building healthier spending habits. Luckily, a Scotiabank poll found most Canadians are being frugal this year, spending $100 or less.
• Be creative: You don’t need to spend a lot to make this Valentine’s Day a special one. Handmade gifts are often the most memorable. Creating a personalized gift can be a great alternative to the standard flowers and chocolates.
• Next year, plan ahead: Whether you want to have dinner out, give your loved one a new watch, or book a trip, having a financial plan can help you get organized. Your clients may even want to create a romance, rainy day or emergency fund on top of their other savings plans.

Here are some more articles to help clients save.

Most couples don’t discuss retirement before marriage

RRSPs are more than tax tools

Canadians to boost savings in 2013

Canadians aren’t tracking spending

5 tips for personal finances

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.