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New research* released from grant-giving charity, Elizabeth Finn Care, reveals the real effect that the recession will be having on romance this year with millions cutting back on spending this Valentine’s Day. 

 

68 per cent of people surveyed admitted that they will not be celebrating Valentine’s Day at all this year. Of this number, 63 per cent are in a relationship.

 

However, those who say they will be celebrating Valentine’s Day are still intending to cut back on spending: 39 per cent have decided to forgo a card this year and 51 per cent won’t be buying their loved one a gift. 57 per cent say they won’t be treating their partner to the traditional romantic meal for two at a restaurant, and half (50 per cent) aren’t planning a trip away - although they might have considered doing so last year.

 

But what's the fall out of saving cash on Valentine's Day?

 

Over nine million couples, - say that money worries have put a strain on their relationship in the past 12 months, further proving that, during times of economic difficulty, relationships are more likely to suffer.

 

Debt is one of the biggest causes of family breakdown and, with personal debt at an all time high, coupled with rising unemployment, the pressure on families is increasing. But separation and divorce comes with its own money concerns.

 

Rebecca Ward for Elizabeth Finn Care said: “The breakdown of a relationship can cause huge pressure financially and can be the reason why many people fall into irreparable debt. 31 per cent of Elizabeth Finn Care beneficiaries came to us as a result of a divorce or separation from their partner. Furthermore, 28 per cent of these were women. In the current economic climate we fear that the number of people who fall into debt because of relationship breakdown will increase even more”.

 

 

 

 

 

- Research carried out by GfKNOP into 1,000 people between 30th January and 1st February 2009.

 

- Elizabeth Finn Care is an independent charity that assists people who have contributed professionally to society and now need help themselves.