Nearly 40% of Americans Will Skip Valentine’s Day This Year to Save Money

Almost four in 10 Americans said they plan to skip Valentine’s Day in 2021 in order to save money, according to a new survey from LendingTree.

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.

Key findings

  • Nearly 40% of Americans plan to skip Valentine’s Day to save money this year. 
  • 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. 
  • 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.
  • Women are more likely to say they’ll spend less on Valentine’s Day this year than last. 

“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,” said LendingTree’s Chief Credit Analyst, Matt Schulz. “There are plenty of ways to split the difference, though, trying to celebrate your relationship without wrecking your finances.”

To view the full report, visit: https://www.lendingtree.com/credit-cards/study/valentines-day-survey/.

Methodology
LendingTree commissioned Qualtrics to conduct an online survey of 1,250 Americans, conducted Jan. 25-26, 2021. The survey was administered using a non-probability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality control.