Tips for a spend-savvy Valentine’s Day

We are now exactly three weeks away from Valentine's Day – but don't panic. If you're planning to surprise your significant other with a nice Valentine's Day treat, we've got some tips to help you keep costs in check.

The cost of Valentine's Day

Research from American Express has found that 56% of Brits bought their partner a gift last year, spending an average of £27. This may not seem like a huge amount, but it equates to a spend of roughly £776 million across the nation.

Aside from partners, people also showed some love to their pets, with 19% spending on average £5 to buy a Valentine's Day gift for their furry friend. Other lucky recipients include parents, which 10% gifted an average of £6 to, and friends, which another 10% gifted on average £5 worth of goodies to.

And don't forget to treat yourself! Fourteen percent certainly haven't, spending an average of £8 in the process. Overall, this means some Brits could be spending £51 or indeed much more in the next few weeks.

Top tips

With Christmas just behind us and many still paying off various bills, you may not want to go overboard this Valentine's Day. To help you stay on the good side of your bank balance, American Express has come up with some top tips:

1. To save money on a nice meal out, why not swap dinner for brunch? Just as romantic, but less costly, especially if you are able to go during the week.
2. Last-minute tickets to a show are not only cheaper, but could provide a great spontaneous date. Even if you don't like the performance, it will be something you can laugh about together.
3. If you don't mind sharing your special day, organising a group dinner or trip could save everyone some money. And if you're planning on treating your pet, why not arrange a play-date so you can share some costs while letting your four-footed friend hang out with other animals.
4. You may have used up your credit card reward points on Christmas, but if you haven't, now might be a good time to spend them. If you have a great credit rating and no current credit card, why not see if using a reward credit card might be a good investment?

Don't forget that if you really want to spoil your pet while saving money, pet insurance may be the best gift you could give them.