Valentine's Day on a Budget: How Inflation is Affecting America's Celebrations

Valentine’s Day has arrived, and while romance fills the air, the price tag attached to it is higher than ever. A recent LendingTree survey of over 2,000 people found that Americans in relationships are planning to spend an average of $179 on their Valentine’s Day celebrations.

However, not everyone is eager to splurge. Nearly 50% of those surveyed said they’d prefer to skip the holiday and its associated costs altogether. Around one-third of Americans are still willing to go into debt to show their love. Overall, people are planning to spend less compared to 2024, with 60% stating that inflation has made it more difficult to afford gifts.

The rising costs of flowers and chocolates are one reason for the increase in expenses. The price of cocoa, a key ingredient in chocolate, has hit record highs over the past year, pushing chocolate prices up. In addition, the prices of food, jewelry, and other gifts have also gone up, making it an expensive time for couples.

Inflation isn’t only affecting Americans; it’s a global issue. Many people worldwide are adjusting their spending habits. Nearly 40% of those surveyed said they won’t be buying gifts this year. Additionally, 25% of Americans now view a restaurant date as unnecessary or showy.

Despite these shifts, Valentine’s Day spending is still expected to be high. According to WalletHub, Americans are projected to spend a total of $25.8 billion this year on Valentine’s Day, making it the third most expensive holiday in the U.S. While inflation continues to strain household budgets, businesses that depend on Valentine’s Day sales—such as florists, gift shops, and restaurants—are hoping for steady consumer spending despite the higher prices.

Will love be enough to overcome the financial strain this year? Only time will tell.