Science & Technology

4 in 10 Americans will skip this year’s Valentine’s: here’s why

Women are more likely to say they’ll spend less on Valentine’s Day this year than last

Valentine's Day

4 in 10 Americans will skip this year’s Valentine’s: here’s why. Source: pexels.com

LendingTree has found that nearly 4 in 10 Americans plan to skip Valentine’s Day in 2021 in order to save money.

Those planning to skip the big day may want to tread lightly, however. The survey also found that about 1 in 7 people in a relationship would be upset if their partner suggested doing so.

According to data, men are more likely than women to say they’re skipping to save money, but women are twice as likely to say they’d be upset if their partner suggested doing this.

Besides, 38% of partnered consumers said they might take on credit card debt due to their Valentine’s Day spending this year. Of that group, 30% will hide that debt from their partner.

As the pandemic maintains its grip on the nation and continues to wreak economic havoc on millions of Americans, it is easy to understand why so many of us would choose to skip Valentine's Day in hopes of putting a little bit of extra cash in our rainy day fund. There are plenty of ways to split the difference, though, trying to celebrate your relationship without wrecking your finances
Matt Schulz, LendingTree's Chief Credit Analyst

We’ve reported that people are spending more on jewelry as Valentine’s approaches.

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