The Cost of Love in Canada: $50,339.21

RateSupermarket.ca's 3rd Annual Cost of Love Study Finds Price of Romance Increased 11.4% Year Over Year

TORONTO, Feb. 9, 2015 /CNW/ - Have you met that special someone? Your bank account better shape up - from first date to cutting the cake, love will set you back a heartbreaking $50,339.21, according to the third annual Cost of Love study from RateSupermarket.ca.

The 2015 edition, which crunched the costs associated with a one-year dating period, one-year engagement and the average Canadian wedding, finds the price of romance is on the rise - up 11.4% from last year.

"While no financial formula could fit each unique relationship, our research does find that, on average, the prices associated with dating, engagement and nuptials have increased," says Penelope Graham, Editor at RateSupermarket.ca. "And, as costs for food and travel grow amid today's low currency environment, our findings underscore the importance of being financially prepared for life's milestones."

Graham adds that while you can't put a price on a personal connection, "Individuals should be aware how increased spending - whether on entertainment, travel, or a certain piece of jewelry - can derail the best-laid of financial plans."

So Cupid… Will That Be Cash or Credit?

To find the total cost of love, RateSupermarket.ca conducted a cost analysis on the top expenses faced by couples, from casual dating to wedding day, illustrated in this infographic.

One Year of Dates: $7,740.21


12 Fancy Dates: $2,335                   

Avg cost: $194.50

(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: $570.96                             

Avg cost: $47.58

(movie tickets, concessions)


2 Weekend Getaways: $821.50                   

Avg cost: $360.75

(2 days away, 2 nights away, $100 credit card bill)


Beach Vacation: $2,254.67              

Avg cost: $1127.33


Other Expenses: $1270.08                          

(Flowers: $126.98, Men's Wardrobe: $1143.10)


One-Year Engagement: $10,913.99


Another Year of Dates + 50% Wardrobe update: $4,913.99

Engagement Ring: $4,000

Engagement Party: $2,000


Tying The Knot: $31,685*


*Source: 2014 Weddingbells/Mariage Quebec Reader Survey

About RateSupermarket.ca ( www.ratesupermarket.ca )
Over 7 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.

SOURCE RateSupermarket.ca

For further information: Tara Bolger, Blue Sky Communications, p: 416 929 2052, e: tbolger@blueskycommunications.com

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