Canada Markets closed

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 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.

READ MORE: Valentine's Day – shop last-minute gifts for men

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.

READ MORE: Valentine's Day special – playlist of the day

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.

READ MORE: Valentine's Day is synonymous with kissing, but why do it?

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%).