Despite 45% of adults saying they’re not celebrating Valentine’s Day this year, WalletHub estimates about $27.4 billion will be spent on gifts, nights out, food and other demonstrations of love this Feb. 14.
In a January survey, WalletHub asked 1,000 participants key questions about America’s most romantic holiday, relationships and the impact of money on it all.
Their findings did not bode well for those without deep pockets or good credit.
The survey found that 51% of people would not marry someone who had a bad credit rating, and 37% of people wouldn’t date someone with a bad credit rating.
Even worse, four out of every 10 people surveyed said that reckless spending was worse for a relationship than terrible breath.
Meanwhile, 55% of those surveyed said lying about money could be worse than cheating, and 46% said they’d end a relationship with someone over reckless spending.
“People in the dating pool have become increasingly concerned with finding a partner who has the right qualifications financially, following the Great Recession,” WalletHub analyst Jill Gonzalez told the Deseret News in an email. “The good news is that a bad credit score is fixable, which can’t be said for a lot of other things that might keep someone from marrying you.”
The survey also found 22% of men are willing to go into credit card debt in order to purchase Valentine’s Day gifts, and 73% of people expect their significant other to at least spend something on their gift.
Surprisingly, only 8% of people expect their partner to spend more than $100.
The most popular gift, the survey found, was candy.
Additional WalletHub data found that the average American will spend close to $200 in total on gifts and outings for the day of romance, with half of that money being devoted purely to eating out that evening.
Most importantly, 86% of those surveyed said that at the end of it all, love is more important than money.