It is estimated that we spend nearly $17 billion on valentines. Lovebirds are expected to shell out a record amount this Valentine’s Day.

This year lovers will spend out an average of $123 each on Valentine’s Day, up from $120 last year and eclipsing the $101 of 2006. A survey that polled 8,447 consumers and found that 61 percent plan to celebrate the holiday. The most romantic age group is the 18- to 24-year-old set, 72 percent of which plan to shower their sweethearts with everything from candy to jewelry this February. But it’s the 25- to 34-year-olds who torch the most cash - $160 on average. Men will spend $163 on their valentines; women, just $84. Some of the most popular gifts men plan to buy are flowers (58.2 percent), candy (45.0 percent) and jewelry (26.5 percent).