It’s February and you know what that means: snow, groundhogs, presidents, and warm-weather vacations. However, for those who have a significant other, it’s also important to remember that it is Valentine’s Day.

Perhaps it’s your first, or maybe you’ve been through the motions a few dozen times. No matter your Valentine’s Day experience, anyone who is financially savvy is going to want to figure out a rational budget. Here is what the average 20-something is planning on spending this Valentine’s Day:

Valentine's Day Spending

Most are Breaking More than One Benjamin

Those in the 25-34 age category have a whole lot of love to account for. Over 96 percent of people in this group reported having a significant other who is on the gift list this year. That’s the highest concentration of lovebirds reported by any age group, so it’s no wonder 20-somethings spend the most on Valentine’s Day.

According to the National Retail Federation, 20-somethings are planning on spending $204.03 this year on a range of presents in the name of love. That’s far above the average expense of $130.97, and also far above the collective wisdom of the female gender (which averages a mere $88.78). Grandma and grandpa in the 65-plus age group spend the least with $68.

Popping the Question is a Factor

Nearly 30 percent of 20-somethings have their minds set on diamonds, gold and/or silver. Those buying jewelry plan on budgeting $220.70 for their significant other. Clearly, precious stones and metals are going to expand the standard budget. Given the age group, it’s not too hard to imagine that a pending engagement could be a factor.

Most Popular Gifts for 20-Somethings

Obviously, what you plan on buying can have a great impact on your budget. Here’s what the average 20-something is buying this Valentine’s Day:

  • Candy – 60.3 percent
  • Greeting Cards – 52.8 percent
  • Flowers – 46.7 percent
  • An Evening Out – 45.7 percent

None of this sounds too surprising. They are quite common gifts;  what is interesting is how these percentages compare with other age groups. 20-Somethings come in first place for percentages purchasing expensive gifts like flowers, jewelry and an evening out, and come in last place for the cheapest gifts like greeting cards.

Perhaps the best money saving advice I can give 20-somethings for theirValentine’s Day budget is to beware of the allure of Valentine’s Day newness. You don’t need to drain your wallet to go all out. Try and mix some low-cost Valentine’s Day fun in with some of your more expensive plans. Thoughtful often trumps expensive in matters of the heart – and the piggy bank.