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Lovers strapped for cash on Valentines Day

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11/02/2008

Nearly three million people are too broke to celebrate Valentines Day, according to price comparison site uSwitch.

For a third of those who can afford to spend something on their loved one this Thursday (February 14), however, their budget won’t stretch above £20, uSwitch has revealed. The average amount people will spend on the lovers’ holiday is £23, with 33% of people in a relationship planning to spend less than £20.

Furthermore, men were found to be twice as generous as women. This Valentine’s Day, men intend to spend £30 on average, while women plan to fork out £15, uSwitch has said.

Ann Robinson, spokesperson for uSwitch.com, said: “Valentine’s Day is traditionally a time to splash some cash, but with consumers tightening their belts this year romance may be in for a rocky ride. While it is great news that consumers are reining in on spending, they are in danger of missing a trick.

“Consumers can spend more of their hard-earned salaries on the nicer things in life, such as treating their loved one, if they take control of their finances. Households can save up to £1,500 on bills and financial services just by shopping around for the best deals on the market – more than enough to inject a bit of romance back into life.”

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