If you and your bank account thought you could take a nice, long break from spending after the holiday season ended, think again. Valentine's Day is just around the corner, and according to a new survey, Americans will collectively spend a whopping $30 billion on gifts for their families, partners, and themselves in honor of the holiday. While that number is actually $300 million less than what was estimated in 2018—since fewer people are expected to be participating in V-Day giving this year—it actually averages out to a higher per-person spending rate than last year: about $221.34 per person, according to the financial experts at Finder.com.
So who, exactly, is getting those billions of dollars worth of chocolate-dipped strawberries, silky lingerie sets, and adorable teddy bears? According to the survey, wives will receive the bulk of these romantic gifts, with their spouses spending approximately $358 on them. Somewhat surprisingly, rounding out the top three are kids, who will receive about $280 worth of gifts from their parents, and yourself, with Americans expected to spend an average of $236 making V-Day into Me-day.
Next up are girlfriends, platonic friends, and then husbands, who will be showered with significantly less pricey gifts than their female counterparts, at $206. Spending on boyfriends is almost last on the list, with their partners planning to spend only a few more dollars on them ($105) than what they'll spend on their cats ($96) and dogs ($82). Sorry, guys!
As for those 135 million Americans who will be shelling out their hard-earned cash this Valentine's Day, the majority will be men: Sixty-two percent of men surveyed said they were planning on giving gifts, while only 45 percent of women said they were. Also making up the majority of these gift givers are millennials, with 63 percent of them apparently taking a break from spending all their dough on avocado toast to buy a loved one a special something. Fifty-seven percent of Gen Xers, meanwhile, said they'd be doing some V-Day spending, but only 39 percent of baby boomers plan on doing so.
And while you're picking out the perfect bouquet of flowers or heart-shaped cookies, be sure to choose carefully. Per the survey data, about 17 percent of the population will receive a gift they don't want, need, or like—which amounts to a waste of about $9.5 billion. But no pressure!