Survey: Men spend much more on Valentine's Day with higher expectations

Love is in the air, but can your wallet handle it?

A new survey conducted by financial services company Bankrate found the sexes have very different expectations of how much money should be spent on Valentine's Day.

Men will spend an average of $339 on their partners, while women will spend $64.

However, women only expect their partners to spend an average of $154. Men wish their partners would spend an average of $211.

Why the vast difference? Experts don't know for sure, but they suspect it may be due to societal views of masculinity and wage differences between men and women.

The study suggest millennials will be spending more on Valentine's Day and you can blame that on Instagram.

Overall, millennials expect to spend about $161 on Valentine's Day. Younger millennials, however, had the highest expectations of Valentine's Day with 15 percent of respondents expecting to spend $500 or more on their partners, and 18 percent expecting their partners to spend $200 to $500.

The sky-high expectations could be a result of how tapped the generation is into social media, which is known to influence consumer spending.

You can read the full survey here.
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