The real Valentine’s Day gift? Financial honesty

As Valentine’s Day approaches, new research suggests that the most meaningful gift couples can give each other isn’t flowers or fine dining, but honest conversations about money.

According to JustMoney’s recent Money & Me survey, financial stress remains a major concern for many South Africans, particularly women. The survey found that 42% of women feel financially stressed, compared to 34% of men, highlighting a clear gender gap in financial wellness.

While romantic gestures are often associated with Valentine’s Day, JustMoney warns that they do little to address deeper issues such as financial anxiety, which can place strain on relationships.

Different money mindsets

The survey shows that men and women often approach money differently. Women tend to be more pragmatic when it comes to spending, largely due to financial necessity.

If given R1 000, 75% of women said they would spend it on groceries, compared to 67% of men. Similarly, 75% of women shop based on specials, while only 67% of men prioritise discounts when deciding where to spend.

Income disparities also play a role. Only 36% of women earn more than R10 000 per month, compared to 47% of men. As a result, just 9% of women feel confident about their income, while 42% report feeling worried about their financial situation.

Talking money, building trust

Sarah Nicholson, customer experience manager at JustMoney, said that how couples manage money can significantly affect their relationship.

“Couples don’t need to view money in the same way, or earn the same amount, but they do need honesty, clarity and shared goals,” Nicholson explained.

“Open financial conversations are important for everyone. While men and women may approach money differently, good money management is relevant for any couple, regardless of gender.”

Practical tips for couples

To reduce financial stress and strengthen relationships, JustMoney recommends that couples:

• Acknowledge different money personalities, such as savers and spenders, and treat these differences with respect
• Be transparent about finances, including income, debt, credit records and financial obligations
• Create a simple monthly budget, even if finances are kept separate, to avoid misunderstandings and resentment
• Align financial goals, such as buying a home, travelling, or building long-term security
• Be honest about debt, agreeing on how repayments will be managed and avoiding unnecessary new credit
• Discuss family responsibilities, as supporting extended family members can significantly affect the ability to save
• Plan savings upfront, rather than saving only if money is left over
• Prepare for emergencies, including job loss or illness, through emergency funds and appropriate cover
• Put protections in place, such as medical, life and disability cover, and keep wills up to date

The research also revealed that 38% of women and 32% of men pay for two or more funeral policies, often to support family members. This can result in over-investment in funeral cover while leaving individuals under-insured for income protection and medical needs. Young women were identified as the most underinsured group.

Looking ahead together

The survey further found that men are twice as likely as women to invest in cryptocurrency, and are more inclined to gamble rather than seek savings opportunities such as discounts. JustMoney advises couples to discuss their comfort with risk, investment goals and whether investments are joint or individual, ideally with guidance from a financial adviser.

“Importantly, discussions about money should be about planning for the future, not policing each other’s spending. Regular financial check-ins help couples adjust as circumstances change and prevent small issues from becoming major disagreements,” Nicholson said.

Nicholson concluded that Valentine’s Day spending should reflect shared values, not social pressure.

“Thoughtful, affordable gestures often carry more meaning than expensive gifts funded through credit.”