Gifts for your loved one cost £62 a month

Money can’t buy you love but you’ll need at least £744 a year to keep your partner sweet, according to a new study by MoneyExpert.com.

The independent financial comparison website polled over 2,000 adults on their spending habits and the figures reveal the average Brit spends around £62 every month on their partner, or £744 a year. That equates to 3.5% of the UK average salary.

Men are the most generous present buyers spending £71 a month, whereas women are on average only prepared to fork out around £51 on their partners. The MoneyExpert.com research also revealed that almost half a million big-spending men will happily spend over £500 a month on gifts for their loved ones.

The survey asked individuals to list gifts they had recently bought their partners. Common classics such as jewellery, electronic goods and weekends away remain popular, although more unusual gifts for aspiring romantics included sausage making equipment, Koi Carp fish and tattoos.

Most Popular Gifts

Jewellery & watches 11.7%
Computer or games console 5.1%
Clothing and accessories 4.9%
MP3 Player 2.7%
Holiday 2.4%
Digital camera 0.9%
Sat Nav 0.8%
Other 71.5%

Sean Gardner, Chief Executive of MoneyExpert.com, said: “With Valentines Day, Christmas, anniversaries, birthdays and not to mention the month-to-month treats, we are coughing up more than ever before on gifts for partners.

“Nobody wants to put a price on love but it seems that keeping the spark going has never cost more. It could be we are seeing the end of ‘free love’ in this country at least.

“Consumer debt levels are at an all time high and while few of us are likely to rack up a debt based solely on present giving, it’s worth considering whether it’s really necessary to buy expensive gifts when a small gesture can go a long way. Having said all that, the value of a happy relationship is difficult to put a price on and if these gifts help a relationship along the way then why not?”