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Published Jan. 23, 2024, 6:07 p.m. ET
The cost of love in 2024 is enough to break your heart.
A new report reveals the precise amount Americans feel pressured to spend on their special someone this Valentine’s Day — and the price tag could hurt.
A survey from consumer review site Trustpilot found that the cost of Valentine’s Day 2024 will average out to a spendy $157.52.
Another report from Driver Research puts the total higher at $192, with dinner and drinks on Feb. 14 running about $154.
According to the Bureau of Labor Statistics, the cost of the evening has climbed a national average of 5.2% year over year.
And to pay for it, one in one in four coupled millennials said they were fine racking up (more) credit card debt in order to make the night a special one, the Trustpilot survey showed.
“People are feeling under more pressure than ever before to splash out on loved ones,” Trustpilot Chief Customer Officer Alicia Skubick said,
Driver’s data finds those who are in one to two-year relationships are the most susceptible to high prices. They will be dropping $247 on average, whereas those together for less than a year will be spending $186.
Those who’ve been at each other’s sides for over ten years will spend about $189.
One in ten say they’ll break up with their boo if there’s no gift whatsoever and 16 percent risk the dreaded silent treatment, per Trustpilot.
Both a quarter of Gen Z and Millenials say they’re willing to sacrifice a cost of living expense like gas, food, or rent to be a romantic dream on February 14 too, the same report showed.
Not that it’s worth the trouble —Driver noted nearly half of these people don’t even like their gifts.
And stay away from mixtapes, the data suggests — they’re only well received 13% of the time.
At the same time that cost-efficient lab-grown diamond wedding rings are soaring in popularity, many couples are taking a more pragmatic approach to the greeting card holiday as well.
Trustpilot noted 30% plan to skip V-Day, while another, highly benevolent 21% would rather their lover spend the money on themselves.
