Hey Wyoming: You Won’t Believe the Average Amount Spent on Valentine’s Day

Valentine's Day is holiday that is loved by many, but dreaded by just as many... if not more.

The reason being, whether you are single or in a long-term, committed relationship, one statement is true: you are going to have to spend some money.

According to a study conducted by personal finance website, Bankrate.com, the average dollar amount Americans are spending on V-Day is over $192.00!

The Bankrate data stated (gleaned from 2023 numbers):

People plan to spend an average of $192.80 on Valentine’s Day 2023, almost 10 percent more than the $175.41 they had planned to spend in 2022, according to the NRF. In total, people expect to spend $130.75 of their Valentine’s Day budget on significant others and family, nearly identical to last year’s figure of $130.80.

Aside from spending on a partner or family member, people expect to spend $52.65 on friends, pets, co-workers and their childrens’ teachers or classmates, 37 percent higher than the $38.36 they planned to spend in 2022.

One can only imagine with the rising costs of everything these days, the numbers are probably even higher for 2024.

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The study also broke down the percentage of who people are buying gifts for (data sourced from National Retail Federation):

• Significant other or spouse - 87%
• Other family members - 58%
• Friends - 29%
• Children’s classmates or teachers - 25%
• Co-workers - 17%
• Pets - 32%
• Other - 14%

Those numbers are interesting, but personally, this all really breaks down how often so many of these "holidays" have become what I like to call "Hallmark Holidays", and I know I'm not alone in this thought process.

At the end of the day, it shouldn't matter if you spent a dollar or a thousand (or no money actually). It's all about spending time with your loved ones... and not just on February 14th every year, but everyday.