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.

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.