Quest for love expected to cost £377 million
Finding love can be expensive, according to new figures from Santander Cards. The research reveals that of the 1.6 million Brits (3 per cent) who have made a New Year resolution to find a partner in 2011, one in three (33 per cent) expect their search to cost them an average of £724 - a collective spend of around £377 million.
The figures reveal that many of those looking for love may also find the sight of loved-up couples around Valentine's Day too depressing, as over a third (36 per cent) of those who were searching for a partner in 2010 as part of a New Year resolution, had given up their quest by the end of February.
However, all is not lost. The research also reveals that a further 34 per cent of those who resolved to find a partner succeeded in their mission; albeit at an average cost of £1,667 for the 11 per cent who said it cost them money. Finding true love can also save you money, with a smaller number of love hunters (9 per cent) revealing their search actually saved them an average of £754 last year.
There are more people looking for love in Scotland than anywhere else this year, with seven per cent of Scots having made a resolution to find a partner. London and the North East have the next biggest numbers of love-hungry inhabitants, at 5 per cent each.
Ian Coles, Director for Santander Cards, commented: "Millions of people are looking for love this year and Valentine's Day is often thought of as a key time for those seeking a partner. However, our research shows that the quest for love can cost a considerable amount of money for some, which could cause financial strain.
"For those who feel they need to spend money on their quest for love there are ways they can spread the cost, such as making sure they shop around for the best credit card. The Santander Credit Card offers 16 months of 0 per cent interest on all purchases which could make a significant difference to spenders."