One in five (21%) Brits say they won’t be celebrating Valentine’s Day this year due to the cost of living crisis.
New research from Topcashback highlights how couples can’t afford to splash the cash after being hit with rising bills.
But half of Brits still say they will mark Valentine’s Day in some capacity, with the average person planning on spending £65 on their other half.
This adds up to £2.2billion as a nation and includes spend on everything from food to gifts and flowers.
At the same time, almost two in five (38%) admit that their Valentine’s Day plans have been affected by the cost of living.
Are you planning on celebrating Valentine's Day or will you be giving it a miss due to rising costs? Let us know by emailing: mirror.money.saving@mirror.co.uk
One in seven Brits (13%) are hoping to celebrate without spending anything at all as a result.
Over two-thirds (67%) of those who do plan to mark the occasion will do so at home, with 40% saying it’s too expensive to eat out.
Cooking a meal at home (62%), buying a meal deal from the supermarket (19%), and ordering a takeaway (16%) are the most popular Valentine’s Day plans when it comes to food.
There is an almost equal split between Brits who plan on buying their partner a Valentine’s Day gift and those who prefer to save the cash.
One in six (15%) of those who are opting out of gift giving this year said this was because they don’t have the money to buy presents.
More than half (57%) of those celebrating Valentine’s Day plan on buying classic presents like chocolates and flowers, but one in six (11%) will instead opt for handmade presents and essential items.
Adam Bullock, UK director at TopCashback, said: “Whatever you do this Valentine’s Day, if you want to have a celebration without breaking the bank, be sure to do your research and find the best deals before making a purchase.
“Retailers tend to have great seasonal offers ahead of the big day, and you can also recoup some of your spending by shopping through a cashback site like ours.”
Are you planning on celebrating Valentine's Day or will you be giving it a miss due to rising costs? Let us know by emailing: mirror.money.saving@mirror.co.uk
