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Here's How Much People Spend On Valentine's Day

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Here's How Much People Spend On Valentine's Day

Compare Cards has carried out a survey of 1000 Americans about their Valentine’s Day spending expectations.

Road To Romantic Hell Is Paved With Good Intentions

Spending may not be the best way to win over your sweetheart.

The greetings cards maker Compare Cards survey revealed that 31% of the 1000 Americans they asked would be “turned off” if their partner spent too much on Valentine’s Day.

Head Over Heels in Debt

The survey also revealed that 1 out of 10 Americans have gone into debt due to Valentine’s Day spending. However, 1 in 5 consumers, or nearly 22%, believe that Valentine’s Day debt is worth it if it makes their partner happy.

The average American plans to spend $142 on their partner on Valentine’s Day. They expect their partner would pay $119.20 in return.

Hey, Big Spenders!

Men and those belonging to Generation X spend the most on Valentine’s Day –– $248.90 and $293.10, respectively, the study shows. Ideally, Generation X would like a spending limit of $375.80. 

Millennials feel that their partners should spend $196, while Baby Boomers were the easiest to please with only $73.60.  

Men want their partners to spend $271.90 maximum, while women are happy with $145.20.

Statista, an online statistic platform, says planned Valentine’s Day sales in the U.S. are expected to reach $27.4 billion in 2020, an increase of $6.7 billion from 2019.

Honesty May Be The Best Policy

The best thing you could do for Valentine’s Day is to be honest with your partner. Compare cards suggests, “The most important thing is getting real with your partner and talking about where you stand.”  They add, “If you and your partner aren’t on the same wavelength about financial stuff, it can make things really tough on that relationship in the long term.”

 

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