Valentine's Gift Ideas; Valentine's Day Spending
WHITFIELD: All right. Valentine's Day is tomorrow. Instead of chocolates and flowers, what about gadgets for your gal? Earlier I talk with our tech guru Marc Saltzman and here are some of his ideas.</s>MARC SALTZMAN, SYNDICATED TECHNOLOGY WRITER: Let's start off with an iPod preloaded with her favorite music. I think that's a nice touch. This is the iPod Touch which starts at about $229. So you can gift it already with the favorite music on it. Maybe she likes to exercise and get a great dance mix on there. And if you order it online while it's a little too late for it, tomorrow is Valentine's Day, you can also have a free inscription engraved on the back.</s>WHITFIELD: That's sweet.</s>SALTZMAN: This one here by the way says -- it says I love you in spite of your musical tastes. I don't know if you can see that one. But --</s>WHITFIELD: That's cute. Yes, I like -- that's a nice gift. Who wouldn't like that? And there are the real book lovers out there who might enjoy a new way to receive a book, read a book. What do you have?</s>SALTZMAN: Exactly. So digital books or e-book readers are very trendy right now and they make for a great gift for a book lover. I'll show you two of my favorites. This is of course the Amazon Kindle. It was -- this is a refreshed version of it that came out in the fall. It's lighter, it's faster, better looking screen and of course you know all the advantages e-books give. You can adjust the font, the size of the text to your liking. Shop 24/7. With the case of the Amazon Kindle, you can even have a book read back to you --</s>WHITFIELD: Oh my gosh.</s>SALTZMAN: -- if you're one of your -- fatigued on a plane ride, press a button, have it read to you. If you want something a little bit beefier, almost like a tablet, the new NOOK Color from Barnes & Noble is a good pick. This is also -- this is a seven-inch e-book reader that has colors and it's got the ability to read children's books out loud as well. You can surf the net, pick up your e-mail and even use some apps like games. So this is $249. The Amazon Kindle starts at $139 for the Wi-Fi version.</s>WHITFIELD: Very fancy stuff. Now, what about those loves who are in long distance relationships? What do you have for them?</s>SALTZMAN: Well, yes. Definitely a Web camera and a high definition one could help spice up a long distance relationship. I'll leave it at that.</s>WHITFIELD: Watch out, Marc.</s>SALTZMAN: You can use your imagination. You know, just for blowing kisses and things like that.</s>WHITFIELD: Yes. Of course. Of course. Little conversation, yes.</s>SALTZMAN: I don't know what you're thinking about, Fredricka. But this is the Microsoft LifeCam. This is the studio that sells for about $70. It's a 1080p or the highest quality video quality in a Web camera that lets you send video greetings by e-mail or chat in real time for free around the world so this is a top of the line model. If you don't want to spend quite as much, there are other models, this one here from Logitech is called the QuickCam C310 and it sells between $50 and $60, and it's still high definition but not quite top of the line but you know, there's lots of options out there that are better than the Web cam that came with your laptop.</s>WHITFIELD: Fancy schmancy stuff. All right. Marc Saltzman -- oh, do you have more for me?</s>SALTZMAN: I just wanted to add.</s>WHITFIELD: Yes.</s>SALTZMAN: A digital camera is also a great pick and companies like Sony, for example, have pink and red ones which are nice for Valentine's Day.</s>WHITFIELD: Cute.</s>SALTZMAN: So if your significant other could use an upgrade when it comes to a compact digital camera, you can buy one that has an engraving on it as well, and of course pick a Valentine's color, as well. So I just wanted to throw that out there as food for thought.</s>WHITFIELD: All right. So guys out there, you are served notice. So no excuses for not remembering what day it is tomorrow, guys and gals. All right, putting your money where your heart is. Valentine's Day spending will certainly give the economy a boost. So how much are Americans spending and what are the big sellers? Here's CNN's Stephanie Elam.</s>STEPHANIE ELAM, CNN BUSINESS CORRESPONDENT (voice-over): Love is in the air, America. After pinching pennies hard for a couple of years, consumers are once again ready to shower their loved ones with gifts. In fact, according to Ivas World Research, Americans will spend $18.6 billion this year on Valentine's Day purchases. That's nearly 6 percent more than last year and breaks down to about 125 bucks a person. So what are folks buying?</s>UNIDENTIFIED FEMALE: Candy, chocolate, of course, which my husband and my daughter and her son.</s>UNIDENTIFIED MALE: Well, probably $100 probably going towards food.</s>UNIDENTIFIED FEMALE: Say I probably would split dinner for my boyfriend and then go out to a museum or something.</s>ELAM: No doubt greeting cards, flowers, clothing and jewelry are all popular gifts but Americans will spend most of their dough on romantic getaways, candy and the most popular expense of all, dining out. All those meals will cost us $8.8 billion this year. When it comes to gender, it looks like men just don't trust the old adage, it's the thought that counts. The National Retail Federation says the average man will drop more than $158 for Valentine's Day, while the average woman will only spend about $75. And Valentine's Day is not just for humans. The National Retail Federation says the average person will spend just over five bucks on the family pet. Of nearly $2 from last year. But let's face it. Not everyone has a valentine to lavish. That doesn't mean however that these folks aren't spending. In fact the NRF says consumers will spend an average of $6.30 on friends, about $5 on classmates and teachers and just over $3 on co-workers. After all, Valentine's Day is on a Monday. Stephanie Elam, CNN, New York.</s>WHITFIELD: All right. Happy Valentine's. Get ready to hear about spending cuts, investments and some tax moves. Let's start with Alison Kosik at the New York Stock Exchange.</s>ALISON KOSIK, CNN CORRESPONDENT: Hi, Fredricka. It was another solid week for stocks. The major averages gained more than 1 percent each despite uncertainly about developments in Egypt. Investors focus on the positive. We had a round of mergers, strong sales from McDonald's and improvement in unemployment claims. Mortgage rates are rising. The national average for a 30-year fixed is above 5 percent, that's according to Freddie Mac. Rates haven't been that high since last May. Higher rates can temporarily boost home sales because it pushes buyers to jump in before those rates go any higher -- Stephanie.</s>ELAM: Thanks, Alison. More Americans are relying on plastic. Credit card debt rose by $2 billion in December, the first increase in two years. Because of the recession, Americans had been paying down debt and using cash so this may mean that consumers are feeling better about spending again. Calling all tax cheats, if you're hiding money in an offshore account, you can avoid jail time if you confess to the IRS by the end of August. It's time to pay back taxes, interest and fees. Last year's program reeled in 15,000 tax evaders. Poppy has a look ahead of what's coming up in business news. Hi, Poppy.</s>POPPY HARLOW, CNNMONEY.COM: Thanks so much, Stephanie. President Obama set to unveil his 2012 budget proposal on Monday and one thing is for sure. There are going to be cuts. Right now, the nation's debt stands at $14 trillion and the president is expected to propose temporarily freezing spend on non-security discretionary items and also he made call for cuts in defense spending. He also wants to let those tax cuts for the wealthiest Americans expire. The big question, though, is whether the president will or won't address Medicare and Social Security. They make up the bulk of the federal budget and their costs have been climbing. We'll certainly be watching on Monday, Fredricka, and we'll track it all for you on CNNMoney.</s>WHITFIELD: All right. Thanks so much, ladies. I'm Fredricka Whitfield. I'll see you back here next weekend. Don Lemon is here in minutes.