Whether you love it or loath it, there’s no denying that Valentine’s Day is a big deal. We spend billions of dollars on the occasion each year. And 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.
To learn more about exactly how consumers are approaching Valentine’s Day 2020, WalletHub conducted a nationally representative online survey. We asked about everything from what people plan to buy and how much they plan to spend to financial turnoffs and how money problems affect relationships. You can check out the complete results in the infographic below.
Key Stats:
- More Men Say V-Day Debt is Worth it: Men are nearly three times more likely than women to think a Valentine’s Day gift is worth going into credit card debt.
- Reckless Spending Ends Relationships: 46% of people would break up with their significant other if he or she spent irresponsibly.
- Financial Irresponsibility Isn’t Attractive: 4 in 10 people say irresponsible spending is a bigger turnoff than bad breath, and 51% of people say they would not marry someone with bad credit.
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 51% 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 three 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 46% of people who say they would break up with their significant other if he or she spent irresponsibly?
- Do you believe the 4 in 10 people who say irresponsible spending is a bigger turnoff than bad breath?
Ask the Experts
- John Story
Ph.D. – Associate Professor, Cameron School of Business, University of St. Thomas
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- Dimitrios Koutmos
Assistant Professor of Finance & Technology, School of Business, Worcester Polytechnic Institute - School of Business
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- Arthur Buster Allaway
Ph.D. – James and Doris Nelems Professor of Marketing, University of Alabama
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- Brian Starr
Ph.D. – Executive Vice President, Presidential Interim Leadership Team, Lubbock Christian University
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- Geoffrey C. Friesen
Ph.D. – Associate Professor of Finance, Daugherty Water for Food Global Institute Faculty Fellow, Department of Finance, College of Business, University of Nebraska – Lincoln
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Full Details Overall
| What is the biggest reason to break up with someone? | |
|---|---|
| Cheating | 55% |
| Inconsistent values | 20% |
| Constant arguing | 18% |
| Money problems | 7% |
| Can financial infidelity be worse than cheating? | |
| Yes | 53% |
| No | 47% |
| How much do you expect your Valentine to spend on a gift? | |
| $50 -$100 | 34% |
| $1 - $49 | 31% |
| Nothing | 27% |
| $101+ | 8% |
| Would you date someone with bad credit? | |
| Yes | 63% |
| No | 37% |
| Would you marry someone with bad credit? | |
| No | 51% |
| Yes | 49% |
| Should couples split the check when dining out on Valentine’s Day? | |
| No | 65% |
| Yes | 35% |
| Would you break up with your significant other if he/she spent money irresponsibly? | |
| No | 54% |
| Yes | 46% |
| Which of the following money problems are worst for a relationship? | |
| Financial secrets | 35% |
| Irresponsible spending | 27% |
| High debt level | 15% |
| Not saving for the future | 12% |
| Ruining your credit score | 8% |
| Losing money on bad investment decisions | 4% |
| Which is more important to you: Love or Money? | |
| Love | 86% |
| Money | 14% |
| Would it bother you if your significant other made less money than you? | |
| No | 88% |
| Yes | 12% |
| What's the best way to avoid money problems in a relationship? | |
| Separate accounts | 38% |
| Asking permission before buying | 28% |
| Joint finances | 24% |
| Prenuptial agreement | 10% |
| What's a bigger turnoff: | |
| Bad breath | 59% |
| Irresponsible spending | 41% |
| When using dating apps, would you like to see people’s Wallet Scores? | |
| No | 69% |
| Yes | 31% |
| Would you ask your significant other to show you their Wallet Score? | |
| No | 63% |
| Yes | 37% |
| Is a Valentine’s Day gift worth going into credit card debt for? | |
| No | 85% |
| Yes | 15% |
Note: Percentages may not total 100% due to rounding.