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Media centre /
Press releaseBRITS SPLASH OUT ON ROMANCE10 February 200625% have raided their savings to fund a romantic night out One in three expect to be spoiled on Valentine’s Day Love might be priceless but when it comes to Valentine’s Day more than one in three (37%) Brits expect to be spoiled according to the latest research from National Savings and Investments (NS&I). Whether its roses, dinner or a romantic weekend away, making the right impression is so important that a quarter (25%) of Brits have raided their savings to fund a romantic night. Valentine’s Day is a waste of time but don’t leave me out Whilst only one in six (17%) think Valentine’s Day is a great idea, over a third of Brits (37%) expect to be treated to dinner or a gift on 14th February. Londoners have the highest expectations with half (49%) demanding the flowers and chocolates treatment, this is closely followed by Scots with 48%. In contrast only 23% of those in the South West expect to be spoiled on Valentine’s Day. But be warned, just under a third (29%) of Brits have branded Valentine’s Day a rip off and refuse to have anything to do with it, which will leave some romantics disappointed. Views of Valentine’s Day
Cost of romance From Valentine’s Day to anniversaries to first dates, the cost of romance is adding up and increasingly Brits are raiding their savings to pay for it. Our 2006 survey shows a quarter (25%) of Brits admit to dipping into their savings to fund a romantic evening. This is a huge increase on a similar survey in 2005 where only 4% admitted to it. The number of Casanovas using their savings to impress someone has also shot from 11% in last year’s survey to 37% in 2006. Using savings to prepare for a date remains the most common vice, with 24% raiding savings to buy new clothes – up from 6% last year. And surprisingly, almost as many men (24%) as women (25%) will use their savings to get new clothes before a date. Romantic reminder Donna Dawson, psychologist, comments: “The typical response to Valentine’s Day is both a practical and a romantic one: if it’s going to happen anyway, then we want to give it our best shot, whether that means dinner or a gift. As a result many welcome a calendar reminder to stop and take stock in this hectic, fast-paced world. This in turn, leads to the very ‘romantic’ decision to raid our savings for our loved ones!” “However, it is worth noting that for many spending some quality time together is worth more than spending lots of money on one arbitrary date.” Five ways to impress for less Romance doesn’t have to cost the earth, you can impress for less with one of the following ideas this Valentine’s Day:
ENDS Notes to Editors 1. The National Savings and Investments survey was conducted by TNS via PhoneBus, 3-5th February 2006. The sample size was 1,014 adults. The survey in 2005 was conducted by TNS OMNIMAS, 14-18th January 2005 among 2,056 adults. Have you ever spent savings when trying to impress someone? 2005
Have you ever spent savings when trying to impress someone? 2005
2. National Savings and Investments is one of the largest savings organisations in the UK, offering a range of savings and investments products to 26 million customers. All products offer 100% capital security, because they are backed by HM Treasury. 3. We have a number of spokespeople available for interviews via our ISDN line: 020 7602 4522. 4. NS&I is the exclusive sponsor of The Classical BRIT Awards, the UK’s premier classical music awards show, at the Royal Albert Hall on 4 May 2006 Further information on NS&I, including press releases and product information, is available on the website at www.nsandi.com. You can also contact the NS&I Media Team if you have any queries or would like a regional breakdown of the research.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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