How much are Brits really spending Valentine's Day?

Photo: Miroslava/Unsplash

Brits are taking Valentine’s Day seriously this year, with as many as 93% planning to splurge on the romantic holiday – even if it’s on themselves.

A survey of 1611 Brits by Ocean Finance has found how much Brits are planning to spend this Valentine’s, as well as who they’re spending their cash on.

Whether it’s on gifts, a card, a romantic dinner or drinks out with friends, most Brits are planning to spend some money on 14 February. Only 7% said they aren’t celebrating at all.

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And they’re really splashing the cash, with the amount Brits most frequently saying they plan to spend being an impressive £41 to £60.

And while a third (32%) are planning to spend under £40, one in five (19%) are planning to shell out and spend over £100.

Women tend to be more sensible with their spending on Valentine’s Day, the survey found. Almost two thirds (64%) of female respondents said they plan to spend under £60, compared to two in five men.

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In fact, nearly half (46%) of men surveyed are planning to spend over a whopping £80 on the romantic day, with 5% planning to spend over £200, compared to just 2% of women.

Generationally, millenials – those aged 25 to 34 – are likely to spend slightly more than other generations this Valentine’s Day, with 46% budgeting over £60, compared to 36% of baby boomers – aged 55 to 64.

Millenials are also over three times more likely to spend a super high amount, with 8% planning to fork out over £200, compared to a tiny 2% of baby boomers.

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Over 65-year-olds are the generation least likely to be celebrating, with 12% planning not to spend any money at all. This is more than double that of those aged 25 to 34 (5%), aged 35 to 44 (6%) and aged 45 to 54 (6%).

Women are more likely to treat themselves at Valentine’s Day with one in 10 women admitting their spend goes on themselves, compared to just 6% of men.

Women are also three times more likely to buy for their children (8%) compared to men (2%).