Valentine’s Day causes debt problems?

British consumers could be set to create debt problems this weekend, as research has highlighted the potential expense of Valentine’s Day.

According to Yorkshire Bank, adults in the UK will spend just under £5 billion on the occasion.

Women are expected to fork out more than men, with average expenditure totalling £228.50.

Males, meanwhile, will spend £224 on February 14th, with more than a third of this going on a romantic dinner for two.

With women planning to fork out high sums for beauty treatments, head of retail at Yorkshire Bank Steve Fletcher noted that people like to treat themselves as well as their partners.

“While men go for the gestures, like flowers and dinner, women splash out much more in ensuring they look and feel their best for their partner,” he added.

Last month, the eBillme Online Spending Index revealed that nearly a quarter of consumers plan to make Valentine’s Day purchases over the internet, with 57 per cent planning to avoid traditional options such as flowers and chocolates.

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