22% of women to cut back on Valentine spending

12 February 2009 / by Rebecca Sargent
As the UK contests with a deepening recession, it seems Valentine's Day is going back to tradition as women cut back on their spending, according to moneysupermarket.com.

Research from the comparison site has found that 22 per cent of women will be spending less on their Valentine this year.

Meanwhile, 20 per cent of men will be increasing the amount they spend on their loved one on February 14 this year, choosing to spend an average of £48 compared to a woman's £22.

Women think the way to a man's heart is through his stomach when choosing Valentine gifts, as, according to moneysupermarket.com, they are more likely to buy dinner or chocolates, while men will be paying florists around the country a visit.

Commenting, site editor at moneysupermarket.com Clare Francis said: "It's nice to see Miss and Mrs Valentine still doing really well despite the recession.

"Saint Valentine clearly has his work cut out though with a big spend required on February 14."

Aware of the financial pressures put on consumers at the moment, Cheshire Building Society has suggested money savings tips that could stop the recession ruining romance this Valentine's Day.

Tips include cooking at home rather than splashing out on an expensive meal, visiting free museums and galleries, and wrapping up warm and going for a romantic winter picnic.

Other ideas for a thrifty Valentine's Day include renting a filminstead of going to the cinema, or for those whose plans won't be affected by the credit crunch and want to splash out on their loved one, there is a range of special gifts available, such as a trip in a hot air balloon, or personalised jewellery to make it a Valentine's Day to remember.

© Fair Investment Company Ltd