Mike Ryan

How Much Do YOU Spend On Valentine’s Day?

We’re two weeks away from Valentine’s Day, and so here’s a reminder to start thinking about it . . . if you haven’t already.  Because people are apparently spending MORE than usual, and it isn’t just a little inflation.

According to a study by LendingTree, the average person with a significant other expects to shell out $208 this year, which is up 44%.  The average was $144 last year, and $142 in 2020.  That’s a total of $416 per couple if you have joint finances.

The biggest spenders are people who are just a year or two into their relationships.  They expect to drop an average of $247.  On the flip-side, people who are less than a year into their relationships are “only” spending $186.

That money DOES include eating out.  37% of couples are planning to go to a special dinner, which is up from 26% last year, when we didn’t have vaccines.  25% plan to have a special dinner at home . . . and 16% plan to get take-out.

39% of couples opted to skip Valentine’s Day last year to save money, but that number dropped to 31% this year.

(Lending Tree)