Love is in the air as North West prepares for Valentine’s Day
Who says romance is dead?
Standard Life’s “Your Commitments, Your Future” report reveals how much people in the North West spend on their other halves - a clue to what we might expect this Valentine’s Day.
In the North West: Men and women in the North West devote 48 minutes a day to thinking about their other half and, each month, couples in the North West splash out an average of £35 treating each other
Across the UK, couple’s spending habits on their partner showed: men spend £42 compared to women spending £26; however, 18-24-year-old men spend only £20 a month on their partners on average (compared to an average of £27 a month on paid-for TV subscriptions); but, as men get older, their generosity increases, with men aged 45-54 spending nearly £49 on average each month on their partners. Women are at their most generous when aged 25-34, where they spend an average of £32 a month on their partners
Across the UK, when it come to thinking about your partner: 18-24-year-old men are the least romantic, thinking about their partners for only 36 minutes a day on average, whereas 18-24-year-old women spend over 59 minutes on average every day thinking about their partner (more than one whole day a month). Men over 55 spend almost 55 minutes a day thinking about their partners, the highest of any male age group, while women spend the most time thinking of their partners when they are 18-24. Nearly a quarter of people think that if they spent as much time thinking about their finances as they do on their emotional relationships, their finances would be in far better shape.
John Lawson, Personal Finance Expert at Standard Life, said: “Despite the tough economic climate, it’s good to know we are still able to spoil the most important people in our lives. We devote a lot more to time thinking about our loved ones than we do to our finances, but it’s worth remembering that planning our future finances plays a key role in our relationships. Whether it’s starting a family, a home in the sun, a romantic break or a financially secure retirement, budgeting and planning ahead is essential to a happy life. And with the end of the tax year looming, it’s a great time to sit down with your partner and think about how your finances can help you enjoy your life together.”