How much should you budget for Valentine's Day? Gen Z plans to the spend most.
How much should you budget for Valentine's Day? Gen Z plans to the spend most.
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Valentine's Day is a time to celebrate romance, love, Saint Valentine - and gifts.
Americans in relationships plan to spend an average of $155 on Valentine's Day this year and Gen Z leads the pack, budgeting $235 for the holiday, with one in 10 admitting to overspending, a CouponFollow survey found. Men are twice as likely to feel financial pressure surrounding Valentine's Day as women, and women expect their partners to spend 25% more on the holiday than men, the survey found.
However, respondents reported the gifts they most desire are those that are sentimental, not expensive.
Clay Cary, a senior trends analyst for CouponFollow who helped design the survey said that people in their 20s spending the most on Valentine's Day was the most surprising finding.
"It seems the younger you are, if you're in a relationship, the more pressure there is to make it memorable," Cary told USA TODAY. "Whether that's through spending a lot of money or through some handmade gift that took you hours."
More: Shop Valentine's Day gifts: Last-minute deals you can order in time from Amazon
How much do Americans spend on Valentine's Day?
The survey found the average amounts people plan to spend on Feb. 14 vary widely by generation, with younger Americans planning to go all out for the romantic holiday this year in comparison to older people in relationships.
Baby Boomers, age 61 to 79, and Gen Xers, age 45 to 60 are budgeting the least for the holiday, planning to spend $53 and $95 respectively. Millennials, age 28 to 44, plan to spend a significant amount more, budgeting $176. Adult members of Gen Z, or people age 18 to 29, plan to spend the most at $235.
"That's the cohort most likely to be dating so maybe they feel more pressure versus people that are married," Cary said.
Single respondents estimated they will save an average of $110 by skipping Valentine's Day this year. Most will use the money they would have spent on the holiday on daily expenses and bills or redirect it to their savings, the survey found.
Best and worst Valentine's Day gifts
Survey respondents reported the most desired Valentine's Day gifts are:
Sentimental gifts such as handmade cards and personal experiences, with 38% saying they would like to receive those.
Classic Valentine's Day gifts including chocolates and flowers, with 22% reporting that's what they'd prefer.
Practical gifts, with 18% saying they would like to receive them.
No gifts, with 14% reporting they wouldn't mind forgoing the present exchange altogether.
Luxury gifts such as designer jewelry or clothes, with 9% saying they would like to get that type of present.
Survey participants also reported their Valentine's Day deal breakers. They are:
Clearly re-gifted gifts, with 25% labeling them a no go.
No gifts due to forgetting Valentine's Day, which would upset 25% of respondents.
Gag gifts, with 16% considering them a deal breaker.
Generic gifts, which would bother 8% of participants.
Gifts without monetary or sentimental value, which would be a deal breaker for 5% of respondents.
Still looking for a Valentine's Day gift? USA TODAY has you covered with our favorite last-minute Valentine's Day gift ideas.
Reach Rachel Barber at rbarber@usatoday.com and follow her on X @rachelbarber_
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