According to research, an average person in America spends more or less $120,000 on dating in their lifetime. On average, Americans spend at least $100 a month on activities related to dating. The number increases for married people, who average at least $180 to keep their marriage alive.
As a matter of fact, for people in relationships, maintaining the spark in their relationship is very important. Enjoying a nice dinner and drinks is the best way for couples to keep the romance going. According to recent studies, seven out of ten Americans say that dating is very expensive.
An average person spends at least $60 per month on grooming – whether they are married or just in a relationship. Because of this, it is no wonder single people are avoiding the dating scene at all cost. More or less 24% or a quarter of singles that were surveyed revealed that they avoid going to date because they do not have the money for it and do not feel comfortable with their life situation – that includes their financial situation.
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As a matter of fact, 62% of Americans that were surveyed revealed they blame their financial status for not having a healthy dating life. But results also show that being single can also strain people’s wallet as much as being in a relationship.
Going to date is expensive
Nearly 49% of respondents say that being in a relationship is as expensive as living a single life. That is because when a person is on a date with their current partner or someone new, at least 50% of them argued over who will pay the bill. With the burden of paying the bill for the date looming significant among a lot of Americans, it is no surprise that 47% of respondents reveal they have had to get more creative when it comes to spending money on a date because they don’t have enough cash to spend.
From calling a friend for help to pretending they have lost their wallet to selling valuable items, it is no wonder that 54% of respondents say they had had a better relationship and love life if they just earned more money. Dating is tough for people that are low on cash that over 51% have cancelled dates because they don’t have enough money to spend on the date. But debt does not necessarily stop people from finding love. At least 20% of the respondents revealed that they would be more than willing to go into debt just to get on a date.
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Splitting the bill
For people who are dating, splitting the check or the bill is not always expected. At least 60% of men said they usually offer to pay for the date, with 19% offering to split the bill with their date. With that being said, women do not expect men to pay the full check either.
More or less 40% of women offer to pay the bill for the first few dates, with 24% offering to split the check 50/50. Discussing who will pay for the date can be the first financial decision a new couple will make. As the relationship grows, integrating tools to plan expenses like shared accounts, can help couples continue discussions to build a better and solid financial foundation.
Things need to happen to relationships before people stop caring about their financial capabilities to impress their partners. For money to no longer become a factor, 37% of respondents say that they need to go on at least four or five dates with a particular person. So, how much does dating cost? For some people, money can be a factor and for some, it is just part of the bigger picture or it does not really matter.
Another 36% reveal that it is not until they have sexual contact with someone before the money is no longer a factor when it comes to impressing their partner. In comparison, another 35% need to have their first kiss for money to no longer become a big issue when it comes to dating.
Other milestones that need to happen before people stop caring about money when it comes to dating include being an official couple, meeting with the partner’s parents, and meeting their friends. Every relationship stage brings a unique set of circumstances related to financial status, whether it is the 50th anniversary or the couple’s first date. Budgeting for dates, discussing money matters and exploring specific tools to share finances are some of the ways that can help people feel confident with their money, both as a couple or as individuals.