US Valentines to spend more, millions will propose

Workers pack roses to be shipped to the US ahead of Valentine's Day, the biggest holiday of the year for fresh-cut flower sales at the Mongibello flower company in Chia, north of Bogota, Colombia, Monday, Jan. 30, 2012. According to statistics from the Society of American Florists more than 80 percent of the roses bought in the US for this holiday come mainly from Colombia and Ecuador. (AP Photo/Fernando Vergara)

Workers pack roses to be shipped to the US ahead of Valentine's Day, the biggest holiday of the year for fresh-cut flower sales at the Mongibello flower company in Chia, north of Bogota, Colombia, Monday, Jan. 30, 2012. According to statistics from the Society of American Florists more than 80 percent of the roses bought in the US for this holiday come mainly from Colombia and Ecuador. (AP Photo/Fernando Vergara)

Published Feb 1, 2012

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Reuters New York

US CONSUMERS will be digging deeper into their pockets to buy flowers, gift cards and chocolates on Valentine’s Day, with average spending expected to rise 8 percent over last year to nearly $200 (R1 555).

Along with their expanding wallets 4 million Americans are expected to pop the question or receive a proposal on February 14.

“We’ve seen a consistent trend of consumers saying they will spend more, from holiday shopping to 2012 travel plans, and spending plans for February 14 are no exception,” American Express president Sonali Chakravorti said this week.

In its latest spending and savings survey American Express questioned 2 000 adults across the US to gauge how much and on what consumers will be spending their money on Cupid’s big day.

Nearly half of people said they intended to celebrate at a favourite restaurant, while flowers were the most popular gift, followed by gift cards, jewellery and electronics.

Among couples getting betrothed, 30 percent said they would propose during a weekend getaway or vacation.

To seal the deal, 48 percent of people planning to propose thought an engagement ring costing between $1 000 to $5 000 would be appropriate but 22 percent said up to $2 000 for bling would be realistic, while 5 percent thought nothing of spending $10 000 or more.

Although nearly 40 percent of women thought whoever asked for the date should pay for it, 14 percent said the bill should be split, but most unmarried men said they would cover the cost of the date.

Finances can be a delicate subject, so half of the people said they did not talk about money until they had been together at least six months and 20 percent of married couples did not broach the subject until after they had tied the knot.

After marriage money matters can be a cause of disagreements, although the poll shows arguments over household budgets, spending on the children and everyday purchases have fallen since last year.

More men than women take credit for paying credit cards, property and school taxes and for filing income taxes, the poll shows, while 70 percent of women said they managed the household budgets. – Reuters

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