The price we pay for falling in love

The nations wallets have barely recovered from the bashing they took at Christmas and yet next week the average Brit will spend over £70 on Valentines gifts. According to research out today 23 million UK lovebirds are currently scouring the shops for special treats for their partner, spending a combined total of over £1.6 billion suggesting romance isn't dead after all.

The research conducted by PayPal also shows singletons will actually be spending more than those in relationships. Those who have already bagged themselves a beau will spend an average of £69.90. Dedicated spinsters and bachelors however will push the boat out a little bit further shelling out £72.60 on their intended. Is an extra £2.70 going to be enough to swing it with that someone special?

A third of us spend between £50 and £99, but this rises to 44% amongst 18-24 year olds who obviously think flashing their cash will make an impression. 1 in 5 go to extreme measures to prove the purity of their love typically splashing out between £100 and £249! The big spenders are single men and those between 25 and 34. These findings suggest once we earn a decent wage we do like to spend a bit more on our loved ones although admittedly the age of equality is yet to come as men do spend a lot more than women on Valentines day.

To keep their gifts a secret and avoid all those moon-eyed punters clogging up the high streets, Brits are more likely to do their shopping online. All the men out there will also probably be glad to know shopping online is usually a lot cheaper!

To find out more on how PayPal could help you to shop online more easily, visit PayPal.co.uk.