Couples may need debt management plans to counteract Valentines Day spending
Couples may need debt management plans to counteract Valentines Day spending
Tuesday 9th February 2010
New research from Yorkshire Bank estimates the UK will spend £4.9 billion on romance this Valentines Day, equivalent to each couple spending on average £550.
Women will spend an estimated £338, and on average will fork out £100 more than men in preparation to ensure their evening is a success.
This includes spending around £100 on a new outfit, more than £50 on getting their hair styled, and over £130 on beauty treatments such as tanning, waxing and manicures, states the report.
The biggest expenditure for males is expected to be around £100 for a romantic champagne dinner.
Commenting on the figures, head of retail at Yorkshire Bank Steve Fletcher said: "Our research looked at the different spending habits of men and women, expecting to see men bare the largest cost.
"But while men go for the gestures like flowers and dinner, women splash out much more in ensuring they look and feel their best for their partner."
The British Florist Association reports that consumers spend in the vicinity of £13.6 million on cards and £60 million on flowers for Valentines Day.
What's more, a new report by Halifax Insurance reveals that one in five people plan to give or receive expensive jewellery on the most romantic day of the year, and ten per cent of jewellery gifts purchased for the occasion are engagement rings.
News article brought to you by Debt1 - UK Debt Management Specialists
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