AUSSIES FEEL THE PRESSURE TO SPEND BIG ON VALENTINE’S DAY

Love might be priceless, but for many Australians, celebrating Valentine's Day comes with a hefty price tag.

New research by money.com.au reveals that more than one in five Aussies (22%) feel pressured to spend up to $200 on their partner this Valentine’s Day, with men expected to pay more than women.

Men anticipate spending an average of $210, while women expect to pay slightly less at $190. Across the country, NSW residents are feeling the financial heat the most, budgeting an average of $260 for the big day. In contrast, South Australians and Queenslanders are the most budget-conscious, planning to spend just $130 on average.

According to money..com.au finance expert Sean Callery, the cost-of-living crisis now extends to the "cost of loving," making traditional Valentine’s Day celebrations more expensive.

“As if cost-of-living challenges weren’t bad enough, many Aussies are now facing a ‘cost of loving’ crisis, with an expectation to spend big this Valentine’s Day,” Mr Callery said.

“Prices for restaurant meals have increased by nearly 3% in the past year, making a romantic dinner for two more expensive than it was just 12 months ago.”

Younger Australians, including Gen Z and Millennials, are pressured to splurge the most, with an average expected spend of $220 each. In contrast, Baby Boomers plan to keep things simple, budgeting an average of $120, while Gen X is set to spend $170.

Despite the pressure, most Australians (78%) say they aren’t bowing to expensive Valentine’s Day expectations. Many are opting for budget-friendly alternatives, skipping traditional gifts, or even treating February 14 like any other day.

For couples looking to celebrate without breaking the bank, experts suggest setting a spending limit, opting for DIY gifts, or even postponing celebrations to avoid Valentine’s Day price markups.

After all, love isn’t about the dollar figure but the sentiment behind it.