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Prices are up with everything, the cost of love is high, according to a new survey from Trustpilot. It suggests that Americans in relationships feel pressured to spend more on Valentine’s Day this year, while many are already struggling financially.
The survey of 1,013 adults in relationships reveals:
- People believe their partners expect them to spend an average of $157.52 on Valentine’s Day gifts for them.
- For a quarter (26%) of both Gen Z and millennials, that would mean they have to cut back on essentials like gas, food and rent.
- And 25% of millennials admit they’d even consider going into credit card debt to pay for presents and experiences for the romantic holiday.
- The expense of Valentine’s Day is the reason 30% of respondents say they won’t be celebrating this year.
- But the expectations - and the stakes - are high, as some admit they’d take drastic measures if their partner doesn’t spend enough or get them a gift at all, including canceling Valentine’s Day plans (10%) or breaking up (10%). Others would insist their significant other make up for it another time (17%) or give them the silent treatment (16%).
Another Valentine’s Day survey, this one from driveresearch.com reveals that 52% plan to celebrate the holiday this year.
- They expect to spend around $192 on Valentine’s Day overall, including a romantic dinner out for $121, on average, and additional $33 on drinks.
- This poll also finds that 30% of Americans will go into credit card debt from spending on the love holiday, and 43% will hide it from their partner.
How much do you plan to spend on that special someone this year?
Source: Fox Business