Heartbreak from the bank, students discuss holiday finances

Adam Stern
Assistant Sports Editor

Amidst the haze of a two-year recession, blustery winds and a series of snowstorms, purchases of Valentine’s Day chocolates and flowers are up for debate as couples decide how much to spend on loved ones. However, the average young adult will still spend more than $100 this Feb. 14, according to a survey.

The National Retail Federation’s 2010 Valentine’s Day Consumer Intentions and Actions survey, conducted by BIGresearch, found that 59.6 percent of the 9,578 surveyed reported they planned to celebrate Valentine’s Day. This percentage is down 3.8 percent from the year 2007, in which 63.4 percent of survey participants reported they planned to celebrate the holiday.

According to the NRF Web site, the average spending on spouses or significant others has decreased about $20 since 2007. Still, the 35-44 year old age group will spend the most this year, spending an average of $119.19 per person. Young adults 18-24 will be the second biggest spenders at an average of $113.68 per person, followed by 45-54 year olds ($108.82), 25-34 year olds ($105.59), and 55-64 year olds ($83.76), as stated on the NRF Web site.

Student Quotes

“Valentine’s day is an important holiday to most Americans because it is a holiday of showing your love, but then again, my girlfriend doesn’t have a ton of money. So if she couldn’t get me a gift, I would understand her situation,” said sophomore Ryan Collins.

“I definitely think holidays tell us how the economy is doing. Now that the economy isn’t doing so well, people don’t jump to do things,” said senior Jessica Bowley.

“I’m not a high-maintenance kind of guy, and if my girlfriend couldn’t get me anything for Valentine’s Day I would be fine with it. I think Valentine’s Day, like many other holidays in America, are used by corporations to generate profit,” said sophomore Ahsan Sabih.

Statistics from the NRF survey:

• about half said they would still dine out at a restaurant
• 36 percent are going to render the services of a florist
• 16 percent plan to buy jewelry for their significant other
• about 80 percent of participants said their monetary situations have had no negative bearings on their sex life, in fact …
• 5 percent said their sex life has improved since the economic downturn

For more information, visit the National Retail Federation Web site at http://www.nrf.com/modules.php?name=Pages&sp_id=1&pmenu_id=1.