Whether you love it or loathe it, there’s no denying that Valentine’s Day is a big deal. We spend billions of dollars on the occasion each year. There’s a lot riding on what we do (or don’t do) in Cupid’s name on February 14, to the extent that it could affect whether some people wind up filing joint or individual tax returns come April. This year, Valentine’s day will likely look a bit different from normal, though, as couples find their date options restricted by the COVID-19 pandemic. Many people may also find their budgets more constrained. In fact, 98 million Americans expect their significant other to spend less on Valentine’s Day this year, according to a nationally representative survey conducted by WalletHub.
WalletHub’s survey aimed to find out more about how consumers are approaching Valentine’s Day 2021 in the midst of the COVID-19 pandemic. We asked about everything from spending to financial turnoffs and how money problems affect relationships. You can check out the complete results in the infographic below.
Key Stats
- Some People Want Love More Than Health. 50% of people would rather get shot by Cupid's arrow than the COVID-19 vaccine.
- More Men Say V-Day Debt is Worth it. Men are nearly two times more likely than women to think a Valentine’s Day gift is worth going into credit card debt.
- Bad Credit Might Keep You Single. 47% of people wouldn’t marry someone with bad credit.
- Reckless Spending Ends Relationships. 47% of people would break up with their significant other if he or she spent irresponsibly.
- Financial Irresponsibility Isn’t Attractive. 44% of people say irresponsible spending is a bigger turnoff than bad breath.
- Love is Blooming for Some People. 48% of people say they got richer in love since last Valentine's Day.
Ask the Experts
We posed the following questions to a panel of leading consumer studies scholars. You can find their bios and responses below.
- WalletHub’s survey found that 47% of people would not marry someone with bad credit. What does that tell you about the state of relationships and financial literacy right now?
- Do you have any tips for people who want to make sure they date someone who is good with money?
- Why do you think men are nearly two times more likely than women to believe that a Valentine’s Day gift is worth going into credit card debt for?
- What advice do you have for the 47% of people who say they would break up with their significant other if he or she spent irresponsibly?
- Do you believe the 44% people who say irresponsible spending is a bigger turnoff than bad breath?
Ask the Experts
- Patti J. Fisher
Ph.D. – Professor of Consumer Studies, AHRM Department – Virginia Tech
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- Catharine Curran-Kelly
Ph.D. – Associate Professor, Management & Marketing – University of Massachusetts, Dartmouth
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- Roberta N. Clarke
Associate Professor – Boston University's Questrom School of Business and Adjunct Professor, The Heller School for Social Policy and Management – Brandeis University
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- Rob Boostrom
Ph.D. – Associate Professor, Marketing – University of Wisconsin – Whitewater
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- Charles D. Lindsey
Ph.D. – Associate Professor, Marketing Department, School of Management – University at Buffalo, The State University of New York
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- Allison Duke
Ph.D. – Senior Associate Dean and a Professor of Management, College of Business – Lipscomb University
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Survey Methodology
This report reflects the results of a nationally representative online survey of over 1,350 respondents.
After we collected all responses, we normalized the data by age, gender and income so the sample would reflect U.S. demographics.
Full Details Overall
| What is the biggest reason to break up with someone? | |
|---|---|
| Cheating | 80% |
| Long distance | 9% |
| COVID-related issues | 4% |
| Politics | 4% |
| Money problems | 3% |
| Can financial infidelity be worse than cheating? | |
| Yes | 52% |
| No | 48% |
| How much do you expect your Valentine to spend on a gift? (Bracket) | |
| $50 - $100 | 34% |
| $1 - $49 | 31% |
| Nothing | 28% |
| $101+ | 7% |
| Have you spent more or less money on dating/your significant other since COVID-19 started? | |
| Less money | 72% |
| More money | 28% |
| Would you marry someone with bad credit? | |
| Yes | 53% |
| No | 47% |
| Do you expect your significant other to spend more or less money on Valentine’s Day than last year? | |
| Same amount | 48% |
| Less money | 38% |
| More money | 14% |
| Would you break up with your significant other if he/she spent money irresponsibly? | |
| No | 53% |
| Yes | 47% |
| Which of the following money problems are worst for a relationship? | |
| Financial secrets | 34% |
| Irresponsible spending | 28% |
| High debt level | 14% |
| Not saving for the future | 11% |
| Ruining your credit score | 9% |
| Losing money on bad investment decisions | 4% |
| Did you become richer in love since last Valentine’s Day? | |
| No | 52% |
| Yes | 48% |
| Would you rather get shot by Cupid’s arrow or the COVID-19 vaccine? | |
| COVID-19 vaccine | 50% |
| Cupid's arrow | 50% |
| What's the best way to avoid money problems in a relationship? | |
| Separate accounts | 38% |
| Asking permission before buying | 27% |
| Joint finances | 25% |
| Prenuptial agreement | 10% |
| What's a bigger turnoff: | |
| Bad breath | 56% |
| Irresponsible spending | 44% |
| When using dating apps, would you like to see people’s Wallet Scores? | |
| No | 67% |
| Yes | 33% |
| Is a Valentine’s Day gift worth going into credit card debt for? | |
| No | 84% |
| Yes | 16% |
Note: Percentages may not total 100% due to rounding.