Posted by: Richie Bernardo

Everyone wants the kind of things that money just can’t buy — except on Valentine’s Day, otherwise known as “The Day Love Costs Money.” This year, the average lovebird will spend $146.84 and nearly $20 billion collectively to show just how fat our hearts are.

Everyone wants the kind of things that money just can’t buy — except maybe on Valentine’s Day, otherwise known as “The Day Love Costs Money.” This year, Americans collectively will spend $18.2 billion on expressions of their love — from greeting cards to jewelry to a special night out — with the average lovebird shelling out $136.57.

But you don’t need to tank your wallet just to show your romantic side. You can find free or inexpensive ways to display your affection to your sweetheart. The alternative is to be in the right place with the right budget.

With love in the air, WalletHub’s number crunchers played cupid to determine the most romantic and cost-effective cities for celebrating Valentine’s Day. We compared 100 of the largest U.S. cities across 20 key metrics, ranging from “florists per capita” to “number of attractions” to “cost of a three-course meal for two.” Read on for the winners, advice and insight from love experts, and a full description of our methodology. For entertaining stats about the holiday, check out WalletHub’s Valentine’s Day Fun Facts infographic.

1. Main Findings
2. Ask the Experts
3. Methodology

Main Findings

Embed on your website<iframe src="//d2e70e9yced57e.cloudfront.net/wallethub/embed/10056/geochart-valentine.html" width="556" height="347" frameBorder="0" scrolling="no"></iframe> <div style="width:556px;font-size:12px;color:#888;">Source: <a href="http://ift.tt/2jT6CTv;  

Overall Rank	City	Total Score	‘Budget’ Rank	‘Activities’ Rank	‘Gift Accessibility’ Rank	‘Weather Forecast’ Rank
1	San Francisco, CA	82.77	15	1	3	16
2	Scottsdale, AZ	78.61	5	18	8	3
3	Orlando, FL	77.90	55	2	1	35
4	Honolulu, HI	75.29	59	6	2	65
5	Seattle, WA	74.31	18	8	13	42
6	Las Vegas, NV	74.26	57	4	4	78
7	Atlanta, GA	71.92	71	7	5	24
8	Portland, OR	71.70	46	5	11	49
9	San Diego, CA	68.50	14	20	22	3
10	Denver, CO	68.06	23	15	19	35
11	Tampa, FL	67.42	75	11	12	2
12	Austin, TX	65.96	16	27	28	32
13	Irvine, CA	65.42	4	65	39	24
14	Chandler, AZ	64.55	3	73	48	6
15	St. Louis, MO	64.12	84	10	6	72
16	Minneapolis, MN	63.99	33	16	33	42
17	Henderson, NV	62.71	9	66	50	59
18	Washington, DC	62.64	34	12	35	97
19	Plano, TX	62.52	6	61	43	65
20	Colorado Springs, CO	61.65	20	49	37	1
21	Virginia Beach, VA	61.53	10	50	32	94
22	Cincinnati, OH	61.09	89	14	9	65
23	Boise, ID	60.88	19	34	23	92
24	Madison, WI	60.57	41	29	27	65
25	Anchorage, AK	60.23	11	58	42	49
26	Reno, NV	60.20	48	28	17	85
27	Pittsburgh, PA	59.68	88	9	7	99
28	Sacramento, CA	59.58	45	25	24	78
29	Fremont, CA	59.12	2	94	65	91
30	Boston, MA	58.83	68	21	20	72
31	St. Paul, MN	58.02	39	39	38	49
32	Albuquerque, NM	57.86	51	43	26	35
33	Lexington-Fayette, KY	57.62	27	60	31	72
34	Charlotte, NC	57.57	26	68	51	6
35	Omaha, NE	57.16	24	37	64	72
36	Los Angeles, CA	57.11	72	35	29	6
37	St. Petersburg, FL	57.02	76	38	18	6
38	Raleigh, NC	56.90	40	44	47	42
39	Oakland, CA	56.71	77	26	25	32
40	San Jose, CA	56.16	7	75	66	89
41	Jersey City, NJ	56.10	13	52	78	85
42	Chicago, IL	56.01	79	19	40	16
43	Bakersfield, CA	55.96	17	82	72	6
44	Anaheim, CA	55.88	25	47	77	16
45	New Orleans, LA	55.86	92	13	15	16
46	Oklahoma City, OK	55.84	21	70	93	3
47	Durham, NC	55.61	37	63	53	42
48	Nashville, TN	54.64	52	45	41	78
49	New York, NY	54.50	82	22	30	78
50	San Antonio, TX	54.48	44	59	56	6
51	Mesa, AZ	53.80	28	79	74	16
52	Lincoln, NE	53.74	29	56	67	78
53	Chesapeake, VA	53.58	8	98	89	92
54	Tulsa, OK	53.41	62	48	49	24
55	Houston, TX	53.25	74	36	46	49
56	Chula Vista, CA	53.16	12	95	82	6
57	Louisville, KY	52.87	50	53	54	59
58	Corpus Christi, TX	52.77	31	84	75	16
59	Gilbert, AZ	52.75	1	97	84	6
60	Dallas, TX	52.55	73	46	44	42
61	Arlington, TX	51.95	30	92	87	65
62	Phoenix, AZ	51.71	42	77	81	16
63	Indianapolis, IN	51.54	36	64	95	85
64	Columbus, OH	51.44	60	54	69	71
65	Baton Rouge, LA	51.28	87	32	21	49
66	Jacksonville, FL	51.27	64	74	57	35
67	Long Beach, CA	51.18	80	41	52	6
68	Greensboro, NC	51.07	65	62	94	24
69	Lubbock, TX	51.02	47	81	73	24
70	Kansas City, MO	50.97	67	42	79	59
71	Aurora, CO	50.92	22	91	85	24
72	Fort Wayne, IN	50.47	69	80	45	72
73	Wichita, KS	50.44	53	67	71	49
74	Miami, FL	50.41	98	3	10	35
75	Santa Ana, CA	50.13	63	69	68	24
76	Irving, TX	49.51	43	90	88	42
77	Tucson, AZ	49.40	90	33	34	49
78	Garland, TX	49.22	35	96	99	49
79	Norfolk, VA	49.12	70	51	63	95
80	Stockton, CA	48.74	66	83	58	89
81	Milwaukee, WI	48.68	83	40	70	49
82	El Paso, TX	48.64	32	85	91	65
83	Riverside, CA	48.46	61	87	59	35
84	Fresno, CA	47.88	58	88	80	6
85	Fort Worth, TX	47.87	54	93	86	42
86	Memphis, TN	47.29	78	72	60	32
87	Buffalo, NY	47.10	93	17	16	98
88	Glendale, AZ	46.74	38	71	83	24
89	Birmingham, AL	46.00	95	30	14	59
90	Baltimore, MD	45.99	86	31	55	96
91	Laredo, TX	45.74	49	100	76	88
92	Winston-Salem, NC	43.93	81	78	96	49
93	Philadelphia, PA	43.37	91	24	62	100
94	Toledo, OH	41.39	85	76	90	59
95	North Las Vegas, NV	37.72	56	99	100	78
96	San Bernardino, CA	35.93	94	89	92	35
97	Cleveland, OH	32.20	100	23	36	72
98	Detroit, MI	31.69	96	57	97	59
99	Newark, NJ	29.57	97	55	98	78
100	Hialeah, FL	28.25	99	86	61	16

 

Ask the Experts

Planning a date or buying gifts on Valentine’s Day shouldn’t put your finances through the wringer. You can display your affection for that special someone in many ways that won’t break the bank. To help romantically inclined consumers stay within their budgets, we turned to a panel of experts for their thoughts on the following key questions:

1. What can Valentine’s Day spending trends tell us about consumer confidence and the health of the overall economy?
2. What are some tips for celebrating Valentine’s Day on a budget?
3. Valentine’s Day falls on a Tuesday this year. How might this impact how people plan to celebrate?
4. Do men or women spend more on Valentine’s Day?
5. What post-Valentine’s Day deals should savvy shoppers take advantage of?
6. In evaluating the best cities for Valentine’s Day, what are the top five indicators?

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• Shailendra P. Jain James D. Currie Professor of Marketing and Chair of the Department of Marketing & International Business in the Michael G. Foster School of Business at University of Washington
• Mathew S. Isaac Assistant Professor of Marketing in the Albers School of Business and Economics at Seattle University
• Ayalla A. Ruvio Assistant Professor of Marketing in the Broad College of Business at Michigan State University
• Sheena Bunnell Professor of Business Economics at University of Maine at Farmington
• Michael Solomon Professor of Marketing at Saint Joseph's University
• Mahzad Hojjat Associate Professor of Social Psychology at University of Massachusetts Dartmouth and co-editor of "Positive Psychology of Love" (Oxford, 2013)
• Roberta N. Clarke Associate Professor of Health Sector Management in the Questrom School of Business at Boston University
• Nada Nasr Associate Professor of Marketing at Bentley University
• Martin R. Hansen, Jr. Instructor of Marketing and Management at University of Northern Iowa
• Stephanie Tully Assistant Professor of Marketing in the Marshall School of Business at University of Southern California
• James Roberts Professor of Marketing in the Hankamer School of Business at Baylor University

Shailendra P. Jain James D. Currie Professor of Marketing and Chair of the Department of Marketing & International Business in the Michael G. Foster School of Business at University of Washington What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Valentine’s Day spending and the economy in the US appear to move in the same direction. For instance, the average spending per person fell from $133 in 2007 to $108 in 2010. These were some of the worst years for the economy in recent memory. Since then, the spending has rebounded and is expected to reach $140 this year. To that extent, the spending trend may be directly proportional to consumer confidence and overall health of the economy. All the data in my responses is from National Retail Federation. What are some tips for celebrating Valentine’s Day on a budget?

• Buy gifts during off season;
• Give a single rose instead of a bouquet. And do it lovingly and with heart;
• Do something with your own hands instead of buying something ready-made, e.g.,
• • Make a card instead of buying one;
  • Make your own fruit basket instead of buying one ready-made;
  • Cook a special dinner based on your loved one’s favorite recipes instead of eating out.
• Shop antique stores instead of regular jewelry stores;
• Give you own ‘intimate groupon’, e.g., “This intimate groupon entitles you to a loving foot massage anytime you want” or “ This intimate groupon entitles you the wildest night of your dreams at request.”, etc.;
• Give time, the greatest gift of all. No cell phones, no laptops, baby sitter to take care of the kids, just you and her/him cuddling, watching a show, movie, or whatever else you both have wanted to do but never got the time for a long time;
• Go for a drive and watch the waves come and go, or stars shine at night, just the two of you taking in the sights;
• Give him/her a surprise that s/he has wanted, e.g., burn a CD with her/his favorite songs all in one compilation (instead of buying 10 CDs which together may cost a bundle);
• Give a note of thanks and gratitude to your partner. A heartfelt note of appreciation goes a long way in preventing relationship burnout.

Who spends more on Valentine’s Day, men or women? Men spend almost twice as much as women. What post-Valentine’s Day deals should savvy shoppers take advantage of? Restaurant reservations are easier 1-2 days after; chocolates, lingerie, flowers, fruit baskets, gift bags, wrapping paper are all likely to be less expensive 1-2 days after Valentine’s Day. Mathew S. Isaac Assistant Professor of Marketing in the Albers School of Business and Economics at Seattle University What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Spending on Valentine’s Day would be considered discretionary spending. Therefore, greater spending on Valentine’s Day should be correlated with stronger consumer confidence and economic health. That said, Valentine’s Day spending has historically been surprisingly recession-proof, in that although spending dips during difficult economic times, it doesn’t decline quite as much as you might anticipate. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? Valentine’s Day Sunday may actually create revenue opportunities for retailers, florists, couriers, and restaurants in that there is usually less economic activity on Sundays compared to other days of the week. Staying open on Sunday or extending their hours to accommodate Valentine’s Day procrastinators could result in additional sales for these businesses. Furthermore, given that consumers may choose to celebrate on Saturday or even on Friday (e.g., by sending flowers to a significant other’s workplace), having the holiday fall on a Sunday essentially allows for the possibility of an entire Valentine’s Weekend rather than just a single Valentine’s Day. Who spends more on Valentine’s Day, men or women? Historically, men have spent more on Valentine’s Day than women, by about a 2:1 ratio. However, women are more likely to spend not only on their significant others, but on other family members (e.g., kids, parents), friends, and pets. Ayalla A. Ruvio Assistant Professor of Marketing in the Broad College of Business at Michigan State University What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Consumer spending is often a barometer to economy health. During prosperity, consumers spend much more compared to times of economy depression. What are some tips for celebrating Valentine’s Day on a budget? Studies have demonstrated that spending money on experiences make consumers happier than spending it on material possessions. My tip would be to spend it in a way that enables you to experience and truly celebrate your love and relationship. You don’t have to go to a fancy and expensive restaurant. Surprise her/him with a romantic home cooked dinner for two. Make the moment last. Not the dollar. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? Hopefully, it will give people more time to spend with each other and make this day a special one. It will enable people to engage in joint experiences that express their love and can be shared or relived for years to come, and to spend less on momentary and short-lived material gifts. Who spends more on Valentine’s Day, men or women? Traditionally, men spend more money on Valentine’s Day. What post-Valentine’s Day deals should savvy shoppers take advantage of? Any deal is a good deal; but I would say that any luxury item such as expensive chocolates, designer jewelry and perfumes. Sexy, high-quality lingerie is also an excellent option. Sheena Bunnell Professor of Business Economics at University of Maine at Farmington What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Consumers are resilient when it comes to spending on Valentine's Day. This is a fun day! This year especially, with more discretionary spending in their pockets because of lower gas prices, spending trends should show an uptick relative to last year. Given that it is a consumer driven economy, the trend looks upbeat. Valentine’s spending trends don't offer us much of an insight into consumer confidence or the overall health of the economy other than it is a special celebratory occasion. What are some tips for celebrating Valentine’s Day on a budget?

1. A romantic walk in the woods or beach and a picnic afterwards;
2. Couples can cook a meal at home together and indulge in some good wine and dessert;
3. Go out for a Sunday brunch.

Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? People will still celebrate with the rituals that they are accustomed to, as it is a special day. There will be an exchange of gifts (flowers, chocolates, candy, jewelry, etc.). Only variation would be the dining experience. They may go out for a meal on Saturday night and have a more relaxed celebration at home on Sunday, especially if there is family involved. Who spends more on Valentine’s Day, men or women? Men. Men traditionally are expected to spend more on gifts; however women are also starting to allocate more of their resources on this occasion. What post-Valentine’s Day deals should savvy shoppers take advantage of? Red roses, chocolates, specials on massages, weekend getaways, and generally winter merchandise that retailers are getting rid of. Michael Solomon Professor of Marketing at Saint Joseph's University What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Of course consumers open their wallets a bit more when they're feeling good about the way things are going. We might expect that the "spare change" left over from lower gas prices could translate into strong Valentine's sales. More generally, although it's hard to document a direct relationship, we might expect that people will be more aggressive about cementing romantic relationships when the economy looks a bit better. We've seen a lot of people postponing marriage and childbearing (especially women) in recent years so I imagine there is a good amount of pent-up demand (and desire) among some singles to be wooed. What are some tips for celebrating Valentine’s Day on a budget? One of the defining characteristics of Millennials is authenticity. Displays of affection that come from the heart but not necessarily the wallet might be appreciated rather than "store-bought" cards and stuff. A person who exerts more effort to locate a unique gift (e.g., on Etsy and other artisan sites) could score a lot of points even with a low credit score. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? I would guess that this will be a boon, especially for the restaurant business. Who spends more on Valentine’s Day, men or women? Men, by far -- or sleep in the doghouse! Except in Japan, where it's the custom for women to buy presents for men. What post-Valentine’s Day deals should savvy shoppers take advantage of? I would guess the usual markdowns on (stale) chocolate, but quite likely some excess jewelry inventory as well. Mahzad Hojjat Associate Professor of Social Psychology at University of Massachusetts Dartmouth and co-editor of "Positive Psychology of Love" (Oxford, 2013) What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Some of the most expensive gifts for Valentine’s Day include jewelry, roses, and chocolate. Clearly, any significant increases in sales of these items, compared to previous years, may be an indication that consumers are more confident about their own finances and the health of the overall economy. What are some tips for celebrating Valentine’s Day on a budget? Although expensive gift ideas (e.g., jewelry, roses, and chocolate) are quite popular on Valentine’s Day, research suggests that doing enjoyable activities together is an important way to keep the romance alive long term. For instance, you can show your love and enjoy some alone time together while cooking a romantic dinner for your partner at home. Other ideas include watching a movie together, taking a romantic walk, going skiing (XC skiing is often less expensive), or engaging in any other activity that you both enjoy. If you can’t do any of the above activities, sending a simple Valentine’s Day card is essential because it shows that you appreciate your partner and the relationship. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? I think that this would encourage more people to actively enjoy Valentine’s Day by spending time with their partner. I suspect that many couples will eat out on this Sunday. So, perhaps restaurants will see an increase in business. Who spends more on Valentine’s Day, men or women? Even though men are generally shown to be more romantic than women, Valentine’s Day appears to be more important to women. Moreover, I think that the social norm, even in the 21st century, dictates that men should be the ones initiating romantic interest as well as professing love and/or commitment. Therefore, I think that men would spend more on Valentine’s Day. Roberta N. Clarke Associate Professor of Health Sector Management in the Questrom School of Business at Boston University What are some tips for celebrating Valentine’s Day on a budget? Let me answer in part with a recognition that more is being spent on experiences as opposed to tangible items than in the past. Think about the fact that the current 20-30 year old demographic is more likely to use ZipCar and Lyft than to own a car. They want the experience of transportation vs. the ownership of the item that provides transportation. Instead of trying to collect more “stuff,” there is a movement toward collecting more experiences and memories. With that in mind, my tips for celebrating Valentine’s Day on a budget would be:

1. Buy some really good breads, focaccia, cheeses, and a not-outrageously priced wine (since there are many good $18 bottles of wine) and bring these with your beloved  either to a lovely spot outside, if you live in a warm weather area, with a blanket and a very small basket of flowers or to a fireplace with a roaring fire;
2. See if there is a museum nearby with a naked beauties event (art depicting naked beauties!) to attend; alternatively, check to see if the local symphony is performing a love song event on Valentine’s Day;
3. Bring your loved one back to a spot which has great memories or significance for both of you (first date, first kiss, first...) and present him/her with a CD that you made with his/her favorite music.

What post-Valentine’s Day deals should savvy shoppers take advantage of? Do not buy Valentine’s Day packaged chocolate candy to save it for next year unless you keep it in a temperature-controlled environment the whole year. Even then, it can start looking like it’s had a measles attack with little white dots forming on it (not very romantic). If it is cheap chocolate, it also may taste, a year later, like Dream Whip * is one of the major ingredients, not indicative of great quality chocolate (see ingredient list below), again not guaranteeing a great romantic outcome once your true love tastes your year-old gift. *Dream Whip ingredients: Sugar, Dextrose, Partially Hydrogenated Vegetable Oil (Coconut and Palm Kernel Oils), Modified Cornstarch, Propylenegycol Monostearate (Emulsifier), Sodium Caseinate (from Milk), Contains less than 2% of Cellulose Gel, Cellulose Gum, Hydroxypropyl Methylcellulose, Natural and Artificial Flavor, Acetylated Monoglycerides and Mono- and Diglycerides (Emulsifiers), Sodium Silicoaluminate (Anticaking Agent), Yellow 5, Yellow 6. Nada Nasr Associate Professor of Marketing at Bentley University What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Not much! Valentine's is about romantic relationships but is also a ritual. There are three types of motivations to offer gifts on Valentine's Day: (1) obligation, (2) actual romance, (3) non-romantic altruistic, e.g., toward family members and friends. While the first and third might be affected by the health of the economy, the second and dominant motivation (romantic) is hardly impacted by the economy. People who are in relationships bend back and forth to get something "decent" for the person they are in love with. Studies show that gift-giving involves different dynamics from regular spending. Gift givers are mostly interested in the impact of any gift they give on their relationship with the gift receivers. This is particularly true in the case of romantic relationships. Hence, the economic factor becomes less important. Despite the economic crisis in 2008, Valentine's Day sales did not significantly drop from previous years. What are some tips for celebrating Valentine’s Day on a budget? The good old saying "it's the thought that counts!" Valentine's Day occasion and related "gifts" are special. Many gift receivers may actually prefer personalized gifts over the classical ones of chocolate, roses, wine, and jewelry. Studies show that, in romantic relationships, people prefer receiving gifts where the giver had "put effort into." Hence, hand-made cards, cooking for someone, etc. might be good ideas. Other than the tangible gifts, showing affection through expressing care, spending more time together, and being extra attentive or doing little special things together such as putting up a fire or playing a round of scrabble might be greatly valued. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? It can go both ways as people will have a greater opportunity to go out and celebrate outside homes but also gives people the wonderful opportunity of spending more time together and showing affection at home while enjoying slow-paced activities such as watching a movie, building up a fire or playing a game; something they do not tend to have the time to do in our fast-paced society on a different day. Who spends more on Valentine’s Day, men or women? Usually it is men; roughly men spend twice as much as women on Valentine's Day. A good reason is the norm/ritual aspect. Men are expected to buy Valentine's Day gifts and give them while women are more expected to be receivers of gifts. Of course, this is cultural and is different in other countries (e.g., South Korea) but this is how it is in the USA. What post-Valentine’s Day deals should savvy shoppers take advantage of? Usually, post-Valentine's Day deals are of interest to those whose motivations are either obligation or altruism. Those in romantic relationships tend to take it one Valentine's Day at a time. Few of those in romantic relationships might take advantage of post sales, mainly those in very stable relationships, e.g., married couples. Martin R. Hansen, Jr. Instructor of Marketing and Management at University of Northern Iowa What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? I don't think that Valentine’s Day -- though the second largest seasonal-giving holiday -- serves as a good bellwether of consumer confidence or the overall health of the economy. Unlike Christmas, this isn't the 30+ days of hype by the media and promotion by retailers. Males (and to a lesser degree, females) recognize it is a day to recognize their loved one and spending amounts will vary based on a variety of "soft" consumer behaviors. What are some tips for celebrating Valentine’s Day on a budget? Roses tend to be the priciest around Valentine's Day. Order early, shop the internet for online deals or consider other flower varietals that may have even more of an impact (it may help you appear more thoughtful and creative). As for other gifts, the importance of the holiday is to recognize the love and affection you have for your significant other. Ironically, women will be more touched by a well thought out handwritten letter or note than a sappy card with your name signed at the bottom. (Sorry Hallmark, I know you created the holiday but...) Gifts shouldn't take a practical approach (look honey, I bought you that new vacuum cleaner) or a selfish approach (taking her out to your favorite restaurant or buying the sluttiest lingerie you can find). So, if you are buying on a budget, really think about the little things in life that can be inexpensive but often overlooked over the hustle and bustle of the days. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? Since many faiths celebrate their devotion on Sundays, and since it is a pre-cursor to the Monday work day, I think you will still see people choosing to celebrate the day on Friday and/or Saturday. Who spends more on Valentine’s Day, men or women? I believe that is better defined by generation. Young millennials don't spend much on anything and their investments will be made on the cheap via social media and such. Today's generation of young professionals will see the most spending and it will be split evenly between men and women. Older generations will see the more traditional model of men outspending the women. What post-Valentine’s Day deals should savvy shoppers take advantage of? The Walmarts and Targets of the world will see discounts on perishable items and such (candy, chocolates, baked goods) but unless it is specifically Valentine-themed, don't rush to get it right after Valentine's Day (unless selection is a priority). Stephanie Tully Assistant Professor of Marketing in the Marshall School of Business at University of Southern California In general, people spend a lot of money on experiences (e.g., nice restaurants, concerts, etc.) in part because of the memories and stories they provide. My research, with Tom Meyvis of New York University, finds that consumers overestimate how often they will retrospect about their experiences. This overestimation is not because we lose interest in thinking back on our experiences, but rather because we simply forget to remember. That is, because experiences are intangible and because we have so many experiences every day, we forget to think back on the experiences we would like to. Our research suggests that spending money on experiences that can provide reminders can bring more happiness overall. Since Valentine's Day is an annual event and is celebrated by so many other people, it is likely to provide such reminders. Coworkers and friends are likely to ask each other about what they did on Valentine's Day, giving people opportunities to think back on and remember the experience. Moreover, next year, people are likely to think back on what they did on the previous Valentine's Day or be asked about it. So while it may seem unnecessary to spend money on Valentine's Day specifically, it may in fact be beneficial to. Consumers may in fact get more out of these experiences. James Roberts Professor of Marketing in the Hankamer School of Business at Baylor University What can Valentine’s spending trends tell us about consumer confidence and the health of the overall economy? Valentine’s Day spending is pretty consistent regardless of the overall health of the economy. There may be a slight dip in Valentine’s spending in a bad economy but nothing terribly significant unless, of course, you’re in the flower or chocolate industries. What are some tips for celebrating Valentine’s Day on a budget? Science tells us that instead of spending a lot of money, you can get a better return by investing your time into creating a more meaningful experience. The key is experience. Memories from a meaningful experience last longer than the momentary pleasure from a big outlay of cash. So, this Valentine’s Day, cook a nice meal for your loved one, massage his or her feet, or do something even more creative. These are the types of activities that will foster long-term happiness and contentment. Valentine’s Day falls on a Sunday this year -- how might this impact how people plan to celebrate? It shouldn’t make a big difference but could impact the number of people who go out to eat at a restaurant. More than likely, it might move up Valentine’s Day eating out and spending to Friday or Saturday. Who spends more on Valentine’s Day, men or women? Men; we know better and have suffered the consequences of overlooking such an important holiday in the past. What post-Valentine’s Day deals should savvy shoppers take advantage of? Candy, cards, and flowers can be purchased at reduced prices. The problem is that we will have to eat the candy and chocolate ourselves and the flowers won’t have the same impact of when delivered on the proper day - don’t make the mistake of trying to celebrate Valentine’s the day after the big day to save money. Even if your loved one is on the same page as you regarding spending and saving, this is the day to pony up and do the right thing on the right day.

Methodology

In order to determine the best cities for Valentine’s Day, WalletHub’s analysts compared 100 of the most populated cities across four key dimensions: 1) Budget, 2) Activities, 3) Gift Accessibility and 4) Weather Forecast. Our sample considers only city proper in each case and excludes cities in the surrounding metro area.

We evaluated the four dimensions using 20 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for celebrating Valentine’s Day.

We then calculated the overall score for each city based on its weighted average across all metrics and used the resulting scores to rank the cities accordingly.

Budget – Total Points: 50

Note: All of the following cost metrics were adjusted for the median household income of the city.

• Average Ticket Price for a Valentine’s Day Party: Full Weight (~6.25 Points)
• Cost of a Three-Course Meal for Two: Double Weight (~12.5 Points)Note: We assumed that the cost of a three-course meal for two would increase proportionally across all cities on Valentine’s Day.
• Average Movie-Ticket Price: Full Weight (~6.25 Points)
• Average Wine Price: Full Weight (~6.25 Points)
• Beauty-Salon Costs: Full Weight (~6.25 Points)
• Taxi-Fare Cost: Full Weight (~6.25 Points)
• Lowest Price for a Three-Star Hotel Room: Full Weight (~6.25 Points)Note: In 2016, 26 percent of couples planned a romantic Valentine’s getaway, according to an American Express survey. “Hotel Room” refers to a standard room.

Activities – Total Points: 20

• Restaurants per Capita: Double Weight (~5.71 Points)
• Cafés per Capita: Full Weight (~2.86 Points)
• Number of Attractions: Full Weight (~2.86 Points)Note: “Attractions” include, for instance, museums, cultural performances and zoos.
• Nightlife Options per Capita: Full Weight (~2.86 Points)
• Walkability: Full Weight (~2.86 Points)
• Amusement & Entertainment: Full Weight (~2.86 Points)Note: This metric is based on WalletHub’s Most Fun Cities in America ranking.

Gift Accessibility – Total Points: 20

• Jewelry Stores per Capita: Full Weight (~4.00 Points)
• Florists per Capita: Full Weight (~4 .00 Points)
• Chocolate Shops per Capita: Full Weight (~4.00 Points)
• Greeting-Card Stores & Gift Shops per Capita: Full Weight (~4.00 Points)
• Wellness & Spa Centers per Capita: Full Weight (~4.00 Points)

Weather Forecast – Total Points: 10

• Difference Between Forecasted and Normal Temperatures on Valentine’s Day: Full Weight (~3.33 Points)Note: For this metric, the city was penalized if its forecasted temperature on Valentine’s Day is colder than the holiday’s average temperature.
• Forecasted Precipitations for Valentine’s Day: Double Weight (~6.67 Points)

 

Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Council for Community and Economic Research, Numbeo, Kayak.com, Walkscore.com, Yelp, TripAdvisor, Eventbrite AccuWeather and WalletHub research.

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