Americans Overspend for Valentine's Day According to LendingTree Survey
The survey found that Americans plan to spend more than their significant others expect them to, and men plan to spend almost two and a half times what their significant others expect from them.
- Men plan to spend an average of
$95for Valentine's Day– more than double the $41that women plan to spend, on average.
- Men and women both have the same expectations for how much their partners will spend on them this
Valentine's Day: $39, on average. Men are planning to spend almost two and a half times what their significant others (of either gender) expect from them.
- Those who are engaged plan to spend the most on average, at
$92. People in the dating stage plan to spend $88, and married people plan on spending $57. Those dating expect their partners to spend $5more, $44while married and engaged folks expect a touch less, about $38on average.
- More than 1 in 3 don't expect their partners to spend a single cent this
Valentine's Day, while more than 1 in 3 don't plan to drop any money on their significant others.
- People with auto loans, mortgages and substantial credit card debt plan to spend less for
Valentine's Daythen people with student loans, personal loans or no debt at all.
- Generation Z plans to spend the most
($113), millennials expect the most ($49)and nearly 1 out of 3 boomers would be upset if their partners spent too much.
- Only 41 percent are looking forward to
Valentine's Day, another 5 percent are dreading it, but most don't care one way or the other.
What couples want most this
The most desired gifts for this holiday are classics, such as dining out (32 percent) or receiving a card (29 percent). In fact, the third-most desired gift is no gift (24 percent). Only 6 percent want a large gift, such as jewelry or electronics.
Men and women also hope for different gifts. Women were more likely than men to want a dinner out (36 percent), flowers (31 percent) or chocolates or candy (25 percent) for the holiday.
Men, on the other hand, were more likely to think their partner should cook them dinner at home (26 percent), provide a romantic or an erotic experience (23 percent) or a smaller gift like a movie or book (18 percent).
For those not sure how much is appropriate to spend on their partner for this romantic holiday, the survey shows that keeping costs low could be the safer bet for everyone. People in a romantic relationship are much more likely to be disappointed if their significant other spent too much for
Dating vs. married: Which couples spend the most on
What people in committed relationships spend for
Those in the dating stage had the highest expectations of their significant others on
People who are married and engaged had similar expectations of their partners, expecting to receive
Generational spending this
The survey found spending on
Respondents who are part of Generation Z, plan to spend
To view the full report, visit https://www.lendingtree.com/debt-consolidation/survey-shows-people-overspend-for-valentines-day/.
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