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TORONTO, February 11, 2009 – This Valentine's Day, the best gift to give to your loved one is easing a potential stress in the relationship –money troubles.

Here are six tips to consider as Valentine's Day approaches so you can spend more time spicing up the romance and less time worrying about your finances.

Set a ‘date' to discuss your financial future

• While it may not sound as romantic as a four-course candlelit dinner, meeting with your financial planner in February will help couples look at the big financial picture
• Best of all, working with a financial planner doesn't have to cost you a cent

Gain Full Benefits of Spousal RRSPs

• Through using a spousal RRSP, the higher income earning spouse contributes money to the RRSP of the lower income earning spouse with the end goal of both spouses having more equal incomes upon retirement

Consider a Tax-Free Savings Account as a Gift

• Contribute to your RRSPs first, then put remaining savings, or return into a Tax-Free Saving Account

Tax is a Family Affair - take advantage of co-ordinating tax planning

• The couple with equal incomes can optimize tax deductions and reduce total family tax paid, co-ordinating the filing of tax returns with your partner gives opportunity to save taxes
• Take a closer look into: charitable donations, medical expenses, pension income splitting etc.

Create a Continuous Savings Plan

• Make a savings plan together; pay yourselves first
• Streamline your bank account by opening a joint chequing/savings account and then keeping a separate bank account for each of you
• Set aside money for nights on the town

Save on the Valentine's Day gift with help of loyalty programs

• Save for a weekend-get-away for two with the help of AIR MILES, gain points on your debit and credit cards with BMO and redeem for romantic gifts and getaways

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