With the Super Bowl happening this weekend, some folks may have missed the fact that Valentine’s Day is Tuesday, but there’s still plenty of time to get something for the special person in your life. And based on a recent survey, most people will be spending slightly less on the romantic holiday this year.
A new poll from LendingTree finds:
- Americans in a relationship will be spending an average of $187 on their S.O.s this Valentine’s Day, which is down 10% from last year’s average of $208, but still more than spending in 2020 and 2021.
- Couples who have been together longer tend to spend less than those in new relationships. The ones who’ve been together for less than two years expect their partner to spend the most, at $215. Those who’ve been together for two to five years expect their partner to spend an average of $177, those together between five and 10 years expect their S.O. to spend an average of $97 and that drops to $80 for couples together longer than 10 years.
- Men expect to spend almost three times more on their valentine’s than women ($286 compared to $103).
- For gifts, thoughtful gestures are better than material things this year. The most desired gifts overall include a special meal, a card and chocolate or candy, which works out well because those are also the top three gifts people plan to give their partners.
- But for women, flowers top the wish list, fortunately 39% of men are planning to buy the lady in their life flowers.
- To pay for all this, 27% say they’ll take on debt by paying with a credit card and 41% say they‘ll hide that debt from their partner.
- When it comes to celebrating, the top ways couples will spend the holiday include going out to a special dinner (38%), having dinner at home (31%) and going to the movies (10%).
Source: LendingTree