Americans expected to spend big on Valentine’s Day
Unfortunately, about $9.5 billion worth of gifts will be unwanted by the recipients
Finder, a financial advisory company, has compiled statistics surrounding spending on Valentine’s Day.
The company’s website states that an estimated $30 billion will be spent on Valentine’s Day gifts and experiences this year. The average person is expected to spend $221.34.
The site also broke down the average amount of money that will be spent on specific people:
- Wife: $357.90
- Kids: $280.07
- Self: $235.56
- Girlfriend: $231.55
- Friends: $208.10
- Husband: $206.23
- Secret: $160.13
- Other family members: $146.24
- Boyfriend: $105.02
- Cat: $95.90
- Dog: $81.56
Additionally, Generation Y is excepted to buy the most gifts (63 percent expected to spend money), with Generation X and baby boomers following behind.
Those that are married are also expected to buy the most gifts, with those that are separated and single individuals rounding out the top three.
Unfortunately, about $9.5 billion worth of gifts will be unwanted by the recipients.
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