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Memphis News & Weather | Memphis, TN | WATN - localmemphis.com

Millennials plan to spend more on Valentine’s Day than any other generational group

With Valentine’s Day just around the corner, a new survey finds that most coupled Americans plan to spend about $150 to celebrate their love, unless they&...

With Valentine’s Day just around the corner, a new survey finds that most coupled Americans plan to spend about $150 to celebrate their love, unless they’re millennials. That age group — between the ages of 24 and 39 — is planning to spend $208 on food, entertainment, and gifts.

This is according to a new survey from bankrate.com and You Gov, PLC.

Millennials cite newer relationships and social media as reasons for their spending plans, but they aren’t the only generation planning to spend more than the average.

Gen-x plans to spend $160. Baby boomers, meanwhile, plan to spend just about $100.

According to the National Retail Federation, adults in the U.S. are forecast to spend more than $27 billion, which is a jump of 32% over last year’s projection.