♥ Or $ (a.k.a. Love Or $ and Love Or Money) was released as the b-side of Kiss, the first single from Prince's eighth album Parade, the third to be credited to Prince and the Revolution. It was one of only two b-sides from 1982-1989 not to be included on The B-Sides collection in 1993 (the other being Alexa De Paris), for unknown reasons.
Basic tracking took place on 9 July 1985 at the Washington Avenue Warehouse in Eden Prairie, Minnesota (the day before Neon Telephone).
♥ Or $ is the first studio track released by Prince (under his own name) to contain musical contributions by Eric Leeds who would become long-term musical collaborators (Eric Leeds had previously contributed to The Family side-project).