Americans are expected to spend $19.7 billion this Valentine's Day

If you're single this Valentine's Day, your wallet is probably thanking you. The 54.8 percent of American consumers celebrating the holiday in 2016 are expected to combine for $19.7 billion in spending, according to the National Retail Federation.

Here are some of the popular items people are springing for:

Restaurants and show tickets: $4.5 billion

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Jewelry: $4.4 billion

Apparel: $2 billion

Flowers: $1.9 billion

Candy: $1.7 billion

Greeting cards: $1.1 billion

Jennifer Lopez may have been wrong about the cost of love.