SAN FRANCISCO (KGO) — Valentine’s Day is Saturday, and loved ones are spending big this year!
According to the National Retail Federation, consumer spending on Valentine’s Day this year is projected to reach a record-breaking $29.1 billion dollars.
Surveyed shoppers said they planned to spend an average $199.78 on gifts, up from last year’s $188.81.
And on top of gifts, 26% of consumers planned to go out for a romantic date on Valentine’s Day, says polling company Ipsos. But 24% planned to have a romantic night at home instead — and 31% said they weren’t going to observe Valentine’s Day at all.
Long-term couples know that finances matter the other 364 days of the year.
A study by Bankrate found that 38% of people in committed relationships completely combine their finances. 36% mix some of their money while still keeping some separate, and 26% keep their financial accounts totally apart.
But money isn’t the only thing. A Tawkify survey reports that 63% of Americans would marry for love, even if it meant enduring financial hardship.
Take a look at more stories and videos by 7 On Your Side.
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