Americans are expected to spend $18.2 billion on Valentine's Day expenditures this year, according to the National Retail Federation. That's a decrease of about 8% year over year -- though the figure is higher than the dip in spending seen during the 2008 to 2009 financial crisis.

Susie Poppick, senior money editor at Mic's ThePayoff, said consumers are increasingly spending on experiences, like ice skating and pottery classes, rather than buying classic Valentine's Day items, such as chocolates and flowers. Poppick also offered a few money-saving tips.