News

1.8m hoping for Valentine’s Day proposal
Category: Money
12/02/2018

Despite 72% of Brits agreeing that Valentine's Day is too commercial, this hasn't stopped them from taking part. Over 1.8 million Brits are even hoping for the ultimate romantic gesture on Wednesday: a proposal.

Valentine's Day spending

This is part of the reason why jewellery insurance provider Protect Your Bubble expects a collective £945 million to be spent on Valentine's Day in the UK. On average, men anticipate spending £51, while women expect to spend £33.

Flowers are the most popular and preferred gift for 37% of those surveyed, followed by chocolate, which 33% would rather receive. In third place is jewellery, with 20% overall saying they'd like to receive some, while 29% of women put it at the top of their wish list. In contrast, only 2% of Brits are hoping for gardening tools or stationery, so you may want to think twice about these kinds of gifts.

Alongside gardening and stationery sellers, restaurant owners might also be disappointed this Valentine's Day, as Protect Your Bubble further found that 64% intend to spend the special day at home. Indeed, only 17% will be leaving the house to celebrate 'the most romantic day of the year'.

Marriage benefits

Those couples who do end up getting married following Valentine's Day might like to know that, due to various tax benefits, Hargreaves Lansdown has calculated that marriage can make you £190,000 better off (over 50 years). This figure even takes into account the painful cost of £27,161 (according to Hitched) for the average wedding, so don't let that hold you back.

If you do get engaged this Wednesday, the first thing you'll want to do (after celebrating) is set up a dedicated savings account to help you pay for your future wedding. A top savings rate may not be exactly sexy, but saving for something together can be quite romantic – especially if it's for your honeymoon.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.