Love don’t cost a thing? Surprise amount Aussies set to splash on Valentine’s Day in 2026 revealed

You can’t put a price on love, but Australians will spend an average $92 spoiling their Valentines this year, according to new research from Compare the Market that shows cupid may be working with a tighter budget this year. 

While one in five people surveyed said they would spare no expense, the rest said they’d be looking for more affordable ways to make 14 February memorable, with 21% cooking up a romantic dinner at home, 37% choosing cheaper or fewer gifts, and 19% making cost-free plans to surprise their beaux. 

Men surveyed had higher budgets – spending $110 compared to women who will spend just under $72 on average.

Despite many taking a budgeted approach to the day, an overwhelming 73% of Aussies said they’d participate in Valentine’s Day in some way. 

Valentines in New South Wales won’t be feeling blue with an average spend of $124 - well above the national average.

Valentine’s Day 2026 average spend by state

Location	Average spend
Australia	$91.59
New South Wales	$124.40
Queensland	$83.14
South Australia	$61.40
Victoria	$85.52
Western Australia	$49.78

*Source: Compare the Market survey of 1,017 Australian adults, conducted January 2025. NT, Tas and ACT included in national figure.

The data shows that while around one in five Australians surveyed said they weren’t trying to cut costs, others were trying to save money this Valentine’s Day compared to last year by:

• Purchasing no gifts at all (22%)
• Purchasing fewer gifts (22%)
• Making food at home (21%)
• Spending time together at home without spending money (19%)
• Purchasing home brand chocolates, budget flowers and cheaper gifts overall (15%)

Compare the Market’s Phillip Portman said the findings could reflect a broader shift in how Australians are approaching discretionary spending.

 “As Jessie J famously sang, it’s not about the money! Valentine’s Day may be moving away from those big, expensive romantic gestures to simpler acts of love with a smaller price tag,” Mr Portman said.

“But if you are looking for a few extra dollars to splash on your loved ones, the savings could be right under your nose. Go through some of your household bills like your energy plans and insurances and see if you can add a bow to cupid’s arrow.”

That data found that younger Australians, in particular, are finding creative ways to keep Cupid on a budget. Gen Z respondents were the most likely to say they’d purchase cheaper gifts (24%) or make presents themselves (27%), while Millennials were the most likely to reduce the number of gifts they buy (33%).

“It appears there’s been a cultural shift in what romance looks like, with many Australians prioritising connection over consumption,” Mr Portman said. “A lot of Aussies – especially the younger generations – are embracing the cheaper ways to show their love or appreciation for someone.  Even affordable moments can feel personal and thoughtful.”

Mr Portman’s top Valentine's Day traps to watch out for.

Be cautious if putting romantic purchases on credit

It’s easy to get swept up in the moment and charge gifts, dinners or getaways to a credit card. But high interest rates can mean you’re still paying off Valentine’s Day months (or years) later. Unless you can repay the balance in full, it’s a fast way to turn a romantic gesture into long-term debt.

Don’t get stung with the ‘romance’ tax

Flowers, chocolates and set‑menu dinners often spike in price in the lead‑up to 14 February. Many Aussies end up paying more simply because they don’t compare prices. Shopping around or choosing alternatives like homemade gifts or a cheaper date night can prevent overspending on inflated Valentine’s Day mark‑ups.

Delivery fees can hurt the hip pocket

Left a gift to the last minute? Beware of express shipping or “guaranteed Valentine’s Day delivery” surcharges. Planning early or choosing something that doesn’t require postage may help avoid surcharges. You may also be able to opt for a click-and-collect option if you’re short on time but don’t want to pay for delivery.

Romantic dinners may come at a cost

Restaurants often limit customers to special Valentine’s Day packages, which can cost far more than a standard meal. Couples may feel pressured into these “romantic” options without realising how much more they’re paying. Checking regular menu prices or dining a day earlier or later can save a significant amount.