Millennials likely to spend the most this Valentine's Day, survey says

A new survey conducted by Bankrate.com finds that most American couples plan to spend about $150 to celebrate their love this Valentine's Day.

For millennials, the cost of romance is a little higher. Accord to Bankrate's 2020 Valentine's Day survey, couples ages 24 through 39 plan to spend $208 on food, entertainment and gifts. Millennials cite newer relationships and social media as reasons for their spending plans.

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Millennials aren't the only ones planning to spend more this Valentine's Day. Gen-Xers plan to spend $160 according to the poll. Baby boomers will spend the least at just about $100 for Valentine's Day.