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,, 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.

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