Study: Baby Boomers Are the Most Frugal Valentine’s Day Spenders

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  • A study comparing Valentine’s Day spending of different generations found that baby boomers spend the least and care the least about the cost of gifts they receive.

If you’re over the age of 65, you might be spending a little bit less on Valentine’s Day this year than your millennial or Gen X kids. 

That’s according to a recent survey conducted by that analyzed the Valentine’s Day spending habits of different generations. 

Millennials Spend the Most on Valentine’s Day

Baby boomers were found to spend an average of $92 for Valentine’s Day, which was the least amount of the four generations included in the study and well below the $129 average spent by millennials. And when their spending was broken down among 10 common Valentine’s Day gifts, baby boomers were found to be the most frugal for seven of the 10 gifts.  

However, baby boomer spending may be a product of the age of the relationship itself. The study found that Valentine’s Day spending generally decreases as the age of the relationship increases. Those who have been in a relationship for 16 or more years were found to spend 79% less than those who have been in a relationship for between 2 and 5 years.  

On the other hand, there was also found to be a direct correlation between the amount of money spent on Valentine’s Day and one’s level of satisfaction with the relationship. Those who reported being satisfied in their relationship spend 50% more than those who report being unsatisfied. 

And when the numbers don’t add up, some people report getting upset. 1 out of 5 respondents to the survey said they have gotten upset because they felt their partner spent too little on a previous Valentine’s Day gift. However, it wasn’t the baby boomers who were complaining. In fact, the over-65 demographic was found to be the generation least likely to become upset over their partner’s Valentine’s Day spending (or a lack thereof). 

Millennials were found to be the most extravagant spenders, spending more on average than Generation Z, Generation X or baby boomers. The study also found that millennials are the generation that places the most importance on the cost of a Valentine’s Day gift.