by Maja Majewski

The High Cost of Dating

You budget for where you live, what you eat...but what about your dating life? Here’s the truth about the high cost of dating in America.
The High Cost of Saving

Love don’t cost a thing…or does it? We surveyed 2,000 Americans in partnership with OnePoll and asked about the cost of dating – and learned that the average single person in the US spends $168.17 on dating every month. Married people spend even more to keep love alive. dishing out an average of $185.65.

The High Cost of Dating: Average Cost Per Month

Not to scare you, but we did the math on that, and that adds up to over $121,082 in a lifetime!

The High Cost of Dating: Cost of Dating (Lifetime)

Calculations: $168.17/ month x 12 months = $2,018.04/year x 60 years = $121,082.40/lifetime

Why is dating so expensive?

Whatever happened to “Can’t Buy Me Love”? Why is dating so expensive? Well, according to our survey, out of the top five ways couples keep the spark alive in relationships, four are likely to come with a price tag. (We’re counting physical affection as a no-spend or low-spend activity.)

5 top ways to keep sparks flying in relationships

  1. Enjoying dinner and drinks
  2. Date night at least once a week
  3. Physical affection
  4. Attending a concert or show
  5. Celebrating milestones

Whether you’re getting dinner and drinks with someone new a few times a month, or planning nights out to connect with your significant other, it’s no surprise that 7 in 10 people agreed that dating is expensive.

The High Cost of Dating: 7 in 10 say dating is expensive.

Sometimes, it’s just too expensive. Drinks, dinner, movie tickets, good seats at the concert: It can cost a lot of money to find love, which can force people to make tough choices. In fact: 51 percent of the people we surveyed have canceled a date because they were strapped for cash. Tip: if this is you, check out the suggestions we have here for having fun without breaking the bank.

The High Cost of Dating: 51% Have Canceled a Date

New relationships can be the most expensive of all: You might offer to pay for (or split the cost of) cool restaurants, awesome concert tickets, and other treats just because you’re having fun getting to know your new person. But all of this fun and flirting can add up to a drained bank account if you don’t reign it in at some point.

When do people stop trying to impress new partners with money?

  • 37% say they have to go on at least five dates with the person
  • 36% say it’s not until the first time they have sex with someone
  • 35% say they need to have their first kiss with someone
  • 34% say it’s when their partner is “official”

When should you talk about money in a relationship?

We believe that talking about money early and often is important. It can start as early as your first date!

“Discussing who will pay the check can be one of the first times a date or new couple navigates a financial decision,” said Steph Reiley, Director of Product Management here at Simple.

Offering to split the check from your first date, and suggesting ideas for dates that won’t break the bank, can be a natural way to establish healthy financial habits into your relationship.

“As a relationship grows, integrating tools, like having a Shared Account or tools to plan expenses, can help couples continue those discussions to build a solid financial foundation. Every stage of a relationship brings a unique set of financial circumstances, whether it’s a first date or a 50th anniversary,” Reiley added.

“Budgeting for dates, talking about money, and exploring tools to share finances are just a few ways we believe to help people feel confident with their money, both as individuals and as a couple.”

Budget for your dating life with Expenses.
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Share money with your partner in a Shared Account.
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The High Cost of Dating Infographic

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from Simple.com, to external sites in the wilds of the internet; neither Simple nor our partner bank, BBVA Compass, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.