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.