What Are You Spending on Your Sweetheart This Valentine’s Day?

Valentine’s Day is almost here, and while many will still open their wallets to show their love, signs point to more frugal celebrations this year. Amid efforts to save for a rainy day, the tradition of extravagant gifts like oversized bouquets and deluxe chocolates is being replaced with simpler gestures.

Still, the National Retail Federation (NRF) predicts that lovebirds won’t let the day pass without splurging a little. The average spender is expected to shell out around $185 to make their significant other smile.

Who Spends the Most?

According to the NRF, different demographics celebrate Valentine’s Day in unique ways:

• Millennials are the biggest spenders, averaging a generous $300 on their partners. This group also includes their furry friends in the celebration, spending around $40 on pets.
• Men typically outspend women, with men budgeting an average of $248, compared to $155 for women.
• Boomers, on the other hand, are more conservative in their spending, preferring heartfelt gestures over hefty price tags.

Love in a Changing Economy

While the economy is improving, many people are choosing to prioritize savings over splurging. Whether it’s a fancy dinner or a cozy night in, the focus this Valentine’s Day seems to be more on meaningful connections than on material gifts.

No matter your budget, showing appreciation for loved ones—human or furry—is what truly makes the day special.