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Love don’t cost a thing? Millennials fork out double what the average couple spends for Valentine’s Day

Reviewed by expert, Chris Ford
4 min read
28 Feb 2024
couple saving money amid cost-of-living crisis

As it turns out, inflation can’t kill love – According to new research from Compare the Market, the average adult Australian will spend $162 on their significant other this Valentine’s Day.

But being in love will cost Millennials more than double what the average Aussie couple spends.

Love-sick Millennials will shell out a whopping $334.35 for their partner’s Valentine’s Day gift.

This is followed by Gen Z ($185) and Gen X ($142). Meanwhile, Baby Boomers appear to show their love in other ways, with the average senior spending just $20 on Valentine’s Day.

Compare the Market’s Chris Ford said gift-giving must be Millennials‘ love language.

“You can’t put a price on love, but $300 seems to be the going rate for Australian Millennials this year,” Mr Ford said. “If we put that into perspective, it’s enough for around 60 cups of coffee, to fill the car with petrol around three or four times or to purchase a weekend getaway.

“If it’s within their budget, and they’ve planned for this expense – then that’s fantastic.

“Maybe they’ve recently switched insurers and saved $300 by finding a better deal.”

The data also found that Victorians are likely to spend the most on Valentine’s Day than other states, with the average price sitting at $266.80.

“Melbourne is renowned around the world for its restaurants and dining experiences, so it’s highly likely that Victorians will wow their loved ones by wining and dining them,” Mr Ford said. “However, if you’re in South Australia, you may be at the short end of the stick. Our data shows that the average South Australian will spend $47.37 on Valentine’s Day.”

“The good news with Valentine’s Day is that there are so many ways you can celebrate your

love for one another that doesn’t cost any money.”

Valentine’s Day by State


Average spend on Valentine’s Day











NT, TAS and ACT excluded from above table due to low sampling data by included in national average.

How to save money on Valentine’s Day

DIY date night ideas

·          Skip the five-star dining and make a special meal at home

·          Make your own movie ticket and build a fort in your living room to watch a movie (don’t forget all your partner’s favourite snacks)

·          Light some candles around the home and dance or listen to music together

Write a love note

Depending on who you’re dating, this V-day gift could backfire, but it could also earn you some serious brownie points. Writing a love note might sound old-fashioned, but there’s something utterly romantic about getting a pen writing to your loved one the different things you like about them. You could use a sticky note for each idea and put them all into a smallbox wrapped up.

Bake something

They say the secret to someone’s heart is through their stomach. Try whipping up a batch of heart-shaped cookies. If you don’t have a cookie cutter, go buy one; prices start as little as $2. Whatever recipe you decide to bake or cook, it’s going to be 100% better than any premade food you can buy from a store – because it’s made with love.

Postpone your celebration

The day after Valentine’s Day, everything related to the day of love will significantly decrease in price. So maybe you could consider postponing your V-day plans until the following weekend.

Make them a mixtape.

Long gone are the days when you burn a bunch of songs onto a CD; you can now make a playlist on Spotify. Pick all your partner’s favourite songs, and if you’re not 100% sure, just ask their friends for help or stalk their Spotify profile to see what they’ve been listening to. This is a great way to show you care without spending any money.

*Survey of 1005 adult Australians, conducted in January 2024.

For more information, please contact:  

Natasha Innes | 0416 705 514 |

Compare the Market is a comparison service that takes the hard work out of shopping around. We make it Simples for Australians to quickly and easily compare and buy insurance, energy, travel and home loan products from a range of providers. Our easy-to-use comparison tool helps you look for a range of products that may suit your needs and benefit your back pocket.

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avatar of author: Natasha Innes

Written by Natasha Innes

Natasha Innes is a Media and Communications Advisor at Compare The Market. Natasha joins us after working as a journalist at the Courier Mail and Seven News. She graduated from Queensland University of Technology with a dual degree in Business and Journalism majoring in Public Relations.

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