Valentine's Day Isn't Canceled According to Debt.com's Survey
The pandemic may make Valentine's Day more necessary than ever: Survey shows 62 percent will celebrate this year, but won't be seeing red.
FORT LAUDERDALE, Fla., Feb. 9, 2021 /PRNewswire/ -- A recent survey from Debt.com found that 45 percent of respondents say 'the pandemic will not affect how much they spend on Valentine's Day.'
The Valentine's Day Spending Survey reveals that 62 percent of consumers feel the holiday is "important or somewhat important." While 43 percent will spend nothing on Valentine's Day, nearly 54 percent said they will spend up-to $100 this year.
Being in debt is the only exception when it comes to Valentine's Day spending. In both the 2019 and 2021 surveys, 88 percent of respondents say they would 'not expect their partner to spend money on Valentine's Day if they were having financial trouble.'
"The pandemic has changed how people think about money," says Howard Dvorkin, CPA, and Chairman of Debt.com. "In my almost three decades of counseling Americans in debt, I've seen couples come to odds the most when their goals and expectations about money conflict. Love and money can make a great pair when communication and goals are clear, but if they aren't - it can break-up the relationship."
2021 Valentine's Day Spending Survey also finds:
- 26% say they have decided to spend less on Valentine's Day this year.
- 12% say they have decided to not spend any money this year.
- 17% never spend money on Valentine's Day.
- 43% of respondents believe married couples should spend the most.
Credit use stats:
- 32% of respondents plan to use credit to pay for dinner, 15% will use credit for a romantic get-away and 14% plan to pay for jewelry with credit.
- 31% have used credit to celebrate an anniversary.
- 15% of respondents said they have used credit to purchase an engagement/wedding ring.
About: Debt.com provides free educational and professional resources for getting out of debt, building credit, and making smart personal money management decisions. Debt.com only works with vetted and certified providers that give the best advice and solutions for consumers 'when life happens'.
SOURCE Debt.com
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