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, 70 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 2022 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.
- Some People Prioritize Financial Stability. Almost a third of people say money matters more to them in a relationship now than it did before Covid.
- Bad Credit Might Keep You Single. Compared to last year, 37% more Americans say they wouldn’t marry someone with bad credit.
- People Are Less Inclined to Go Into Debt This Year. 17% fewer Americans think a Valentine’s Day gift is worth going into credit card debt this year compared to last year.
- More Men Say V-Day Debt is Worth it. Men are 29% more likely than women to think a Valentine’s Day gift is worth going into credit card debt.
- Financial Infidelity Hurts. Over half (53%) of Americans feel that financial infidelity can be worse than cheating.
- Keeping Secrets About Money Hurts Relationships. 30% of people say financial secrets are the worst relationship problem in 2022.
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 49% 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 29% 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 54% of people who say they would break up with their significant other if he or she spent irresponsibly?
- Do you believe the 53% people who say irresponsible spending is a bigger turnoff than bad breath?
Ask the Experts
This report reflects the results of a nationally representative online survey of over 370 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 in 2022?|
|Can financial infidelity be worse than cheating?|
|How much do you expect your Valentine to spend on a gift? (Bracket)|
|$1 - $49||33%|
|$50 - $100||29%|
|Have you spent more or less money on your love life since COVID-19 started?|
|Would you marry someone with bad credit?|
|Do you expect your significant other to spend more or less money on Valentine’s Day than last year?|
|Would you break up with your significant other if he/she spent money irresponsibly?|
|Which of the following money problems are worst for a relationship in 2022?|
|High debt level||16%|
|Not saving for the future||12%|
|Ruining your credit score||10%|
|Losing money on bad investment decisions||7%|
|Did you become richer in love since last Valentine’s Day?|
|Does money matter more to you in a relationship now than before Covid?|
|What's the best way to avoid money problems in a relationship?|
|Asking permission before buying||21%|
|What's a bigger turnoff:|
|Do you trust your significant other enough to share the PIN to your checking account?|
|Is a Valentine’s Day gift worth going into credit card debt for?|
Note: Percentages may not total 100% due to rounding.