Americans are celebrating Valentine’s Day the old-fashioned way this year, with 61% saying a romantic dinner is the ideal gift.
That’s according to a recent Coupon Follow survey of 1,005 Americans in a relationship, with 57% saying their ideal gift would be an experience like a trip or concert, and 46% saying they’d like a handwritten card or letter.
No matter what direction they ultimately go in, couples have very specific Valentine’s Day budgets in place. On average, Americans plan to spend $87 on their partner.
That may seem like too much to some people, says Douglas Bonepers, president of wealth management firm Born Fied Wealth. To others, it may seem like a very small thing. Ultimately, he says, spending is proportional to household income and how much people can afford.
In any case, CouponFollow says this number is below what people plan to spend on each other in 2025. Last year, they budgeted a total of $155 for gifts.
“There’s been a huge shift in the way Americans approach the holiday,” said Clay Carey, senior trends analyst at CouponFollow. “They’re not moving away from Valentine’s Day, but they’re becoming more cautious about how much money they’re willing or able to spend on this holiday.”
Clay cited inflation as one reason spending could be lower this year. Since the beginning of 2020, cumulative CPI inflation, which measures a range of goods and services including food and gas, has increased by about 26%, according to the Bureau of Labor Statistics.
According to CouponFollow, one in five Americans in a relationship plans to skip Valentine’s Day altogether.
If you’re trying to find the best gift for your partner this holiday, Bone Purse recommends addressing some financial issues first, with or without a gift. Ask yourself: What is important to you about money? What beliefs do you have about it?
These questions will help you plan your spending priorities, expectations, and values together or separately.
“I think by answering questions about ourselves and each other, we can probably have a more meaningful Valentine’s Day,” Vonepers says.
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