If hitting up Chipotle is a strain on your finances, you should brainstorm CREATIVE WAYS to do something special for Valentine’s Day.
According to a new report, Americans now spend $189 on an average date, which is a 12.5% increase from just last year. That’s dinner and drinks, and an activity, like seeing a movie or hitting up TopGolf.
The average American spent more than $2,300 on dates in the past year, and 65% of people in serious relationships try to divide dating costs evenly, so that neither of them are driven to bankruptcy from mediocre meals at Chili’s.
And not surprisingly, that hits younger adults the hardest, the ones who are actively going OUT for dates, and looking to have fun and make an impression.
50% of Gen Z’ers and 40% of Millennials say the cost of dating is getting in the way of reaching their financial goals. Especially Millennials, who spend more than anyone else at $252 per date night out.
As for Valentine’s Day specifically, the National Retail Federation expects spending to reach a new record of $29.1 billion this year. That beats the previous record of $27.5 billion, which was set last year.
People say they’re budgeting a record $200 for Valentine’s Day gifts, surpassing the previous high of $196 set in 2020.
According to their data, 55% of Americans are planning to celebrate Valentine’s Day this year. The most popular purchases are: Candy, flowers, cards, an evening out, and jewelry.
83% plan to buy a gift for a significant other.
58% will buy for other family members, like kids, parents, or siblings.
35% will buy for their pets.
33% will buy for their friends.
27% will buy for their children’s classmates and teachers.
And 21% will buy for their coworkers. (Work besties, colleagues, and maybe someone they’d do a Coldplay Kiss-Cam with.)
(PR Newswire / NRF)
