Valentine’s Day is this week, so I hope everyone has been saving up for the big day. According to WalletHub, shoppers will likely spend over $27.4 billion on Valentine’s gifts in 2020, making Valentine’s Day the second most expensive holiday among U.S. consumers.
However, we should be careful not to overextend ourselves financially in the name of love. According to WalletHub’s 2020 Valentine’s Day Spending Survey, 4 in 10 people agree irresponsible spending is a bigger turn-off than bad breath and over one-half would not marry someone with bad credit. So, while chocolate, flowers, and fancy gifts are great, it appears financial responsibility is a bigger turn-on. We hope everyone is prepared for Valentine’s Day this year, but before you deplete your bank account, remember, the greatest gift is love (at least according to 86% of those surveyed).