So remember that today isn't about spoiling your loved ones. It's about showing them how much they mean to you (and vice versa). A $200 ring is meaningless, whereas a cute humourous love poem (or something of that sorts) actually goes a long way with this occasion.
"There are varying opinions as to the origin of Valentine's Day. Some experts state that it originated from St. Valentine, a Roman who was martyred for refusing to give up Christianity. He died on February 14, 269 A.D., the same day that had been devoted to love lotteries. Legend also says that St. Valentine left a farewell note for the jailer's daughter, who had become his friend, and signed it "From Your Valentine". Other aspects of the story say that Saint Valentine served as a priest at the temple during the reign of Emperor Claudius. Claudius then had Valentine jailed for defying him. In 496 A.D. Pope Gelasius set aside February 14 to honour St. Valentine."