The cost of cupid's chokehold: $50,000 and counting

Ah Valentines day, look how far you’ve fallen – from a day devoted to romantic love and rosy-cheeked cherubs to the soapbox of cynics dodging cupid’s chokehold.

Naturally, the fall was by our own device – love, it seems, has become a very expensive thing.

According to comparison website RateSupermarket’s annual breakdown, the cost of love from awkward first dates to faces smeared with wedding cake has climbed 11.4 per cent from last year.

The price tag of adoration you ask? $50,339.21 total, which includes just over $7,740.21 for a year of dates, dinners and a Netflix subscription, $10,913.19 for a year of engagement including the ring and $31,685 for the average Canadian wedding as per Weddingbells magazine.

To put that in perspective, that’s slightly less than the $50,576 downpayment made by the average first time homebuyer.

Valentine’s Day = more spending

With that in mind, we suppose the standoffish attitudes towards Valentine’s Day are somewhat understandable. Especially when they seem to be propped up by popular opinion.

According to a survey by digital coupon website RetailMeNot.ca, more than three quarters of Canadians see the faux-holiday as overrated.

But it’s not just the single ones – 80 per cent of those in a relationship think it is overhyped compared to 74 per cent of the lone wolfs.

And despite most couples not expecting grand gestures like planes streaking the sky with messages of love or personal violinists while you dine on surf and turf at the Keg (you little romantics, you…) 80 per cent of those surveyed agree guys get more pressure.

But just how much your loved one spends is a crap shoot, depending on whom you ask: Canadians don’t plan on spending much more than an average of $42 this Valentine’s, according to RetailMeNot. Another survey by Wal-Mart Canada shows 60 per cent of Canadians plan to spend $177 on average on everything from candy and greeting cards to toys and flowers.

According to Moneris data, Canadians really opened their wallets during Valentine’s week last year, spending 7.98 per cent more on hotels, restaurants, alcohol and groceries than they did in 2013.

Even with this year’s celebration falling on a Saturday, the majority (68 per cent) plan to just hang in and avoid the crowds, says RetailMeNot. Thirty per cent will celebrate with a home-cooked meal, 17 per cent plan to order take out and 17 per cent of Canadians plan to hare a bottle of wine.

Might as well, you’re already paying for the Netflix subscription anyways, right?