New This Month

Real Talk: How Much are People Spending on Valentine's Day?

Hint: it's a lot.


Valentine's Day brings an abundance of gifts — both handmade and storebought — chocolates, roses, and even pretty trinkets to shower friends and family with love. However festive all the seasonal token of affections can be, Valentine's Day, in general, can be rather expensive. Can you guess how much people are spending on Valentine's Day? Here's a hint: it's a lot.


According to the new consumer survey from The National Retailer Federation and Prosper Insights & Analytics, people plan on spending $18.2 billion dollars this year. American consumers are expecting the holiday's spending to be down from previous years regardless of the total expected $18.2 billion. In fact, it's forseen that this year consumers will spend roughly $136.57 on Valentine's day gifts and gestures opposed to last year's spending of $146.84 per person.


Purchasing fancy blooms and baking heart-shaped cupcakes may seem like mere pennies in the grand picture of the estimated $18.2 billion. Aside from planning a lovely breakfast in bed meal with heart-shaped toast accompanied by a pretty floral arrangement, what are most expected to buy their loved ones this year? The survey broke it down stating that "consumers plan to spend an average $85.21 on their significant other, $26.59 on family members, $6.56 on children's classmates and teachers, $6.51 on friends, $4.27 on coworkers, and $4.44 on pets."


[GET IDEAS: 37 Heartfelt Valentine's Day Gifts]

Most of the anticipated gifts and purchases this year are the seasoned gifts of flowers, jewelry, dinner reservations as well as greeting cards ($1billion in expected sales). In fact, $4.3 billion of the anticipated $18.2 billion will go toward sparkly jewelry purchases, $3 billion on dinner and evening plans, $2 billion on flowers, and so on.


Many know that you cannot put a dollar sign on love nor no total dollar amount on a recipe should be able to reflect the amount of affection you have for a loved one. Making a valentine such as this Doily Valentine, whipping up a Mini-Heart Shaped Cake, or stirring up a Raspberry Chocolate Kiss Martini might suffice for Valentine's Day grandest love gestures. In fact, the survey also found that not everyone is into giving (and receiving) expensive store bought tokens of affections, but would rather have memories that gifts that offer in experience instead of accumulating stuff. And 40 percent of people survey said they'd love to have an ''experience gift'' which can consist of a spontaneous trip, concert, and other once-in-a-lifetime experiences.


All in all, $18.2 billion can buy a lot of chocolate and roses. But you know that a handmade gift is truly priceless.


Feeling inspired? Learn how to make this pop-up paper valentine: