Valentine’s Day has come and gone, but the spending decisions from your romantic date might still be following you around. 

According to a survey through the National Retail Federation, shoppers said they expected to spend an average of $175 per person for Valentine’s Day gifts. This average was higher than the findings in the previous year. 

Now, that expense might have seemed worth it to show your sweetheart that you care, but is that true? When you have a tight budget, overspending on Valentine’s Day might’ve been a big mistake. 

What’s Wrong with Overspending?

There are a few reasons why overspending on Valentine’s Day was a mistake. Read them below. 

Budgeting Trouble

When you have a tight budget, you could be putting unnecessary strain on it when you overspend on non-essentials. The mistake could force you to come up short on other essentials (groceries, gas, bills, etc.) during the month. It could push you to pay your bills late or bounce a check. It could create a whole domino effect of financial problems.

No Safety Nets

Overspending will also make you vulnerable to emergency expenses. Since you won’t have any extra savings on hand, you won’t be able to handle urgent payments that crop up unexpectedly.

So, what can you do? Without the savings, you can use your credit card to manage the urgent payment (as long as your balance isn’t too high), or you can apply for a personal loan with direct deposit and hope to get approved. If you’re approved for the personal loan, you can use the borrowed funds to cover the emergency expense quickly and then manage a repayment plan later on. 

These emergency options aren’t ideal solutions. You should aspire to use your own savings to cover urgent expenses.

Trouble in Paradise

If the financial consequences of overspending for the sake of romance don’t scare you, then the emotional consequences should. Money problems are a major source of conflict in relationships. According to the Institute for Divorce Financial Analysts, money is the third leading cause for divorce — it only sits behind incompatibility and infidelity. By putting yourself in a financially unstable position, you could cause unnecessary tension between you and your sweetheart. 

How Can You Recover from Overspending?

Rework Your Budget

Take a close look at your budget to see what categories you can trim down to compensate for your overspending. For instance, maybe you can cut your usual entertainment spending down to make up for your mistake. 

Make Some Extra Cash

If reworking your budget isn’t enough, you might need to make some extra cash. A simple way to do this is to sell your old clothes online. This will give you an excuse to spring clean your closet while making money.  

Talk to Your Partner

Don’t keep this a secret from your partner. You should always try to be open about your finances with them. If they aren’t aware that your budget is really tight, they might not realize that you feel pressured to spend beyond your means to make them happy. 

If they aren’t supportive or they’re upset about your confession, relationship counseling could help you resolve this conflict over your finances. 

Don’t let your Valentine’s Day blunder cause you serious money trouble. Follow these tips and help your finances recover.