Unlike that gift-wrapped box of heart-shaped chocolates that’s gone in a flash, making some sensible financial decisions now could improve the chances of you and your partner enjoying many happy years together. Photo: Pickpik
Unlike that gift-wrapped box of heart-shaped chocolates that’s gone in a flash, making some sensible financial decisions now could improve the chances of you and your partner enjoying many happy years together. Photo: Pickpik

FNB customers spend R50 million in 2019 Valentine’s Day splurge

By Dhivana Rajgopaul Time of article published Feb 10, 2020

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DURBAN – Restaurants continue to enjoy the lion’s share of consumer spend during Valentine’s Day, according to a report by FNB.

FNB said on Valentine’s Day in 2019, its customers spent about R50 million at different restaurants around the country, which was a substantial increase compared to what customers spent at restaurants during Valentine’s Day in 2017 and 2018 respectively.

FNB Retail chief executive, Raj Makanjee said the bank saw similar spending patterns by customers who use debit and credit cards and expected more or less the same activity this year.

“Our payments activity indicates that Valentine’s Day is important to many customers and we encourage those who will be spending to spoil their loved ones to do so wisely.

“In these tough times, we want to help our customers manage their money better by using value-added benefits to cut back on out-of-pocket expenses. In addition to the competitive discounts offered through our eBucks Rewards, we also encourage consumers to take advantage of our partnership with The ENTERTAINER app leading up to Valentines Day,” he said.

Currently, more than 260 000 FNB and RMB Private Bank customers are registered on The ENTERTAINER app. “And we have saved each customer over R1 500 in fees they would have paid to register for the service,” said Makanjee. 

He said through the partnership with The ENTERTAINER app, FNB customers could enjoy two-for-one discounted offers at various restaurants, beauty salons, health and fitness facilities as well as hotels across Durban, Cape Town, Johannesburg and Pretoria. 

Earlier this year, the ENTERTAINER revealed that they would be adding more than 480 new merchants on the app in 2020.

“Many households are facing mounting pressure due to poor economic prospects that continue to erode disposable income. Therefore, it’s important for our partnerships to deliver value to customers. The active participation in our value-added benefits confirms that customers continue to derive value in what we have to offer them,” said Makanjee.

Whether you love or hate this date, it’s a good reminder to examine the role that money plays in your relationship, advised Justmoney.

Unlike that gift-wrapped box of heart-shaped chocolates that’s gone in a flash, making some sensible financial decisions now could improve the chances of you and your partner enjoying many happy years together.

“This topic can be very emotional for some and trigger deep-seated feelings such as fear or guilt,” says Justmoney commercial manager Sarah Nicholson. 

Some people believe that they don’t deserve wealth or feel guilty when they do well while knowing that others are struggling. Balancing emotions and money is important.

Ignorance is not bliss, and it is important to establish a solid financial foundation. In your money discussions aim to be open and truthful, avoid being judgmental, and try to compartmentalise your financial challenges from other issues in your relationship, said Justmoney.

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