How to spend wisely and stick to a budget on Valentine’s Day

Valentine’s Day is undoubtedly a time for romance, but while the heart may be full as you lavish gifts on your significant other, the wallet can be empty as money flows out of your bank account.

According to new research, half (49%) of people plan to celebrate on Valentine’s Day (February 14), spending £56 on their partner average.

Traditional gifts such as flowers, chocolates and a bottle of fizz will be shoved into shopping trolleys as people gear up for the big day, according to the research for buy now, pay later provider Clearpay.

Under-35s are set to be the biggest spenders, budgeting £73 on average to mark Valentine’s Day.

While many are going for the classic gift options, one in six (17%) Valentine’s spenders are planning to purchase clothes and the same proportion (17%) will be choosing a fragrance as a gift.

It’s not just romantic partners who will be receiving gifts this year.

Nearly a third (29%) of people will buy a Valentine’s Day token for their child and a fifth (20%) of adults will buy for their friends.

One in five (20%) people are treating themselves this year, with an average spend of £70 to mark the occasion, according to the Opinium Research survey of 2,000 people across the UK in January.

To help keep the costs down, Rich Bayer, UK country manager at Clearpay, suggests firstly setting a spending limit.

He suggests: “Set a realistic budget for gifts or dinners and stick to it. If the cost feels like a stretch this year, have an open conversation with your partner about expectations.”

Planning ahead, rather than making last-minute impulse buys can also be key.

“Write a list of what you want to buy and watch out for sales and promotions so you can find the perfect gift at a better price,” says Bayer.

He also suggests considering meaningful gifts, rather than items that lose their significance quickly.

Clearpay’s own data indicates that sales of gratitude journals, for example jumped by two-thirds (66%), when comparing October to December 2024 with the previous three months.

Bayer also suggests: “If there’s an experience you’ve both been wanting to try but haven’t had the opportunity, now is the perfect moment to make it happen.

“Consider sharing the cost of a special activity to make the day more affordable and memorable.”

If you’re going for traditional gifts such as a bottle of fizz, you could swap champagne for slightly cheaper bubbles, such as Prosecco or cava, and be sure to check out the supermarket deals.

Aldi is offering a heart-shaped pizza for £2.99, heart-shaped pasta with lobster for £2.99 and a bottle of Prosecco for under a fiver as part of its Valentine’s meal selection, for example.

However you decide to celebrate, remember that thoughtful gifts can be more memorable than lavish ones and you don’t have to spend big to win over someone’s heart.