According to a new Valentine’s Day spending survey from the National Retail Federation (results found here), the average person will spend $103 on “Love” Day items this year. However, according to the NRF survey, “the average person will spend $5.37 on friends, up from $4.74 last year; $4.29 on classmates and teachers, compared to $3.59 last year; and $2.84 on co-workers, slightly up from the $1.94 they spent in 2009.
Family pets will also feel the love this year with the average person spending $3.27 on their furry friends, up from $2.17 last year. Spending on family members will remain the same ($20.94 vs. $20.95 last year).”
So, in light of these findings, I want to know from you how much do you plan to spend this February 14th? I will break up the polls into categories, please answer where appropriate.
Also, since the focus of this site is to help people manage their money in a more biblical and responsible manner, please add a comment below giving your tips (or posting your questions) on how to spend less on Valentine’s Day while still making your loved ones feel special.
Please be sure to check out my post giving frugal Valentine’s Day ideas! You may be able to find a couple of ideas to keep you from breaking the bank on February 14th!
I look forward to your feedback. Now, on to the polls:
Valentine’s Day Spending For Married Couples:
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[polldaddy poll=2665771]
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Valentine’s Day Spending For Those Engaged or Dating:
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[polldaddy poll=2665783]
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Valentine’s Day Spending For Everyone:
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[polldaddy poll=2665787]
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I must admit that I’ve never purchased a Valentine’s Day gift for a friend. I didn’t even know that was expected. Let’s see if I’m alone in that thought!
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[polldaddy poll=2665793]
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Don’t forget to comment with your money-saving tips or questions below.
photo by terren in Virginia
© 2010 – 2011, Khaleef Crumbley. All rights reserved.
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{ 4 comments… read them below or add one }
I am just getting my daughters something they can use..No candy or junk. Maybe a DVD that they really want or something. They would be happy with just a couple music downloads as well. I tend to keep it simple!
I honestly didn't know that people purchased gifts for family and friends. but I guess the dollar store isn't really splurging!
I am spending the most on myself! I ordered a red velvet cheesecake from Junior's. Since this is the first Valentine with my special person, I'm definitely not going over $50. My family and friends get those little candies from the dollar store. Only immediate family. Shoot we're in a recession, lol
So, I guess I get to comment first. Please DO NOT USE DEBT TO BUY A VALENTINE'S DAY GIFT!!! Second, try to do things that will be memorable and meaningful rather than just using money to display love. Being creative (poetry, art, creating a scrapbook, etc) always works well.
A lot of money can be saved by avoiding things that have “Valentine” in the title. Purchase a $5 box of chocolates instead of a $45 box of Valentine chocolates. The same is true for restaurants – you should avoid going out on Feb 14th or on that weekend altogether – they jack up the price for a Valentine's Day meal. Use this tip for weddings as well.
So, what are some of your tips?