ORCUTT, Calif. -- Love is in the air and you may be feeling it in your wallet.
Time is ticking for Valentine's day shoppers like Daniel Vasquez who is shopping for that special gift for his fiance.
"If they plan ahead that's the best way to go," says jeweler Mark Melby.
Daniel is looking at a 24 carat gold-plated rose. "They're actually real roses and that's what I like about them because they last forever."
This Valentine's Day, according to the National Retail Federation, Americans plan to spend $18.5 billion dollars in candy, gifts and jewelry.
"The rule of thumb (for) the man is two months salary for purchasing an engagement ring," says Melby. "If he makes $2,500 a month, he should be thinking about spending about $5,000 for the engagement ring."
And those expenses can really add up and get complicated when singles become duos.
For example, experts say it's best to open a joint checking account for combined expenses and set how much each person will put in, rather than having one account for everything.
In terms of moving in, Kim Person of Person, Kim CPA of Santa Maria says married couples can qualify for tax breaks, singles can't.
Which brings us back to Daniel who's going to spend some on his sweetheart this year.
"I've been saving up for it," says Vasquez. "Nothing too big, too fancy. But something nice, gold with a little diamond in it. Something special."
Jewelers warn, if you're going to pay for an engagement ring, financing can leave you in debt and drives up the price. So it's best to buy it outright.
