Experts expect $22B in Valentine’s spending, averages $165 per person

(NBC News) — Americans plan to spend big on love this week, despite the pandemic.

Personal finance website WalletHub is forecasting $22 billion in Valentine’s Day spending, with the average person spending $165.

Nearly four billion dollars will be spent on candy.

“Chocolate and candy is a very resilient category, and people are looking to treats for their emotional well-being throughout the pandemic,” says Carly Schildhaus of the National Confectioners Association.  “It brings them a little bit of joy and a little bit of normalcy in an otherwise uncertain time.”

WalletHub also predicts that men will shell out more, even if they don t have the money.

Men are projected to spend around $231, while women are projected to spend $101 on their significant other.

“Men actually are nearly two times more likely than women to go into credit card debt buying a valentine’s day gift,” says WalletHub analyst Jill Gonzalez.

The WalletHub survey found there’s an irony in that.

“Financial irresponsibility also is not attractive,” Gonzalez says.  “About 44% of people said that they think they’re irresponsible spending is a bigger turn off and bad breath.”

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Categories: Business, Lifestyle

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