Valentine’s Day Splurge: Aussies expected to drop $528 million

12 February, Sydney, Australia – New research by finder.com.au, the site that compares virtually everything, reveals that while millions will be spent this Hallmark Day, the majority of Aussies won’t be jumping aboard the love train.

The survey of 1,718 respondents shows 36% will splash out on their partners and celebrate their love on 14 February. On average these Aussies will spend $75 each, equivalent to a whopping $528 million across the nation.

But almost two thirds (64%) won’t be celebrating Valentine’s Day this year, with most avoiding the holiday because of cost.

In fact, the research finds that 25% of Aussies don’t celebrate the day anymore because they think it’s a rip-off or too expensive. A further 18% have never celebrated the holiday because they don’t believe in it.

Bessie Hassan, Money Expert at finder.com.au, can understand why some Aussies don’t necessarily like the fabricated holiday.

“With exorbitant price markups on flowers, restaurants, chocolate and accommodation, it’s not surprising that some view Valentine’s Day as a money making scheme.”

“If cost is a key factor turning you off there are a number of more affordable ways to celebrate Valentine’s Day. Avoid the set menus and markups and pack yourself a picnic or stay in and enjoy a Netflix binge.”

One in five (21%) Aussies are single and won’t be celebrating the event this year.

“If you are going to exchange presents this year, skip the kitschy gifts or heart-shaped paraphernalia. Choosing a less traditional gift or making something from scratch can still be low-cost yet meaningful.”

“You can always add some little themed chocolates or even red ribbon. These small touches show you’re in the spirit of the day, but won’t break the bank.”

The survey also finds that the older Aussies get, the more anti-Valentine’s they become with 80% of Baby Boomers steering clear of the holiday, in comparison to 67% of Gen X and 47% of Gen Y.

On the whole, men will spend $94 on gifts, almost double that of women ($56).

“Instead of both forking out for a gift why not purchase a combined present like an experience.”

“Whether you decide to spend money on the holiday or not, the intentions behind Valentine’s Day should be celebrated throughout the year.”

How to avoid splurging this Valentine’s Day

• Shop by price

Create a budget and stick to it. You don’t need to splash out on luxurious gifts and a fancy dinner to show someone you love them. Check out a Valentine’s Day gift guide to keep your spend on track.

• It’s the thought that counts

If you really want to save why not make a gift instead. You’ll likely score a few bonus points by adding a few personal touches too! If you’re not the crafty type, simply making a card or putting some thought into a love letter will suffice.

• Netflix and chill

You will see price markups on almost everything on Valentine’s Day, from restaurants, to flowers and accommodation. If the holiday is to celebrate your relationship and show your partner you love them, you can easily do that by settling down for a night of Netflix binging and snacks. Perhaps your gift can be letting your significant other choose the movie?

• Timing is key

There’s no point in spending hundreds of dollars on a Valentine’s Day present if you’ve only been with your partner for a few weeks. Instead, pick something quirky or fun. It’s also a bit more appropriate for the length of time you’ve been dating.