More Expected of Men on Valentine's Day

Men are more inclined than women to spend money on gifts, dining and entertainment for their partner on Valentine’s Day, according to a new study by Bankrate.com. The average man plans to spend $339 on their spouse or partner, while women say they will spend only $64. For more information, click here:

https://www.bankrate.com/personal-finance/valentines-day-spending-survey-february-2019/

Apparently, the joy isn’t just in giving. While men are more apt to be generous, they also have higher expectations of their partner when it comes to reciprocating their generosity. In fact, American men expect their partner to spend an average of $211 on them when celebrating the holiday compared to just $154 stated by women.

Overall, 69% of Americans plan to mark the occasion with some sort of spending, averaging about $200. Younger millennials, ages 23-29, (86%) are the most likely generation to spend money and to expect their partner to spend in return (69%). Their average spend on a significant other will be $266, while expecting their partner to spend $260 on them. It’s interesting that older millennials, ages 30-38, who are just a few years older, are spending far less. Older millennials plan to spend $109 and expect their partner to spend only $68.

“With age comes more financial responsibilities,” said Bankrate.com analyst Kelly Anne Smith. “You don’t have to break the bank to show your love for someone. A home cooked meal, small memento or inexpensive romantic outing can go a long way.”

For those who can’t help but give their loved one an all-in, romantic comedy-worthy Valentine’s Day experience, it’s going to cost them – a lot. According to Bankrate’s 2019 Be My Valentine Index (https://www.bankrate.com/finance/smart-spending/valentines-day-costs.aspx), a celebration including chocolate, diamonds, roses, find-dining and Champagne will set a person back an average of $617.77 – more than three times what the average American plans to spend.

The desire to impress a loved one with Valentine’s Day spending starts to fade the longer a couple is in a relationship. Americans who have been together for less than two years are most likely to spend money on their significant other (85%) and to expect their partner to spend money on them (72%). Just 61% of those who have been in their relationship at least 20 years plan to spend money on their partner and 57% expect something in return.

Northeastern couples are the least likely to spend money this Valentine’s Day. Just 60% plan to spend on their spouse or partner, and 50% expect spending in return. Southerners, on the other hand, are much more likely to spend money (74%) and expect their romantic partner to do the same (68%).

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