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The New Challenge of Dating: Understanding 'Date-flation'

As Valentine's Day looms, a fresh set of data from the BMO Real Financial Progress Index reveals that the expenses associated with dating have escalated significantly in the United States. According to recent findings, the average cost of a single date—including everything from grooming to gas—is now approximately $189, marking a 12.5% increase from 2025's figure of $168. This uptick is particularly concerning as, over the past year, Americans have collectively spent an average of approximately $2,323 on dates. With inflation rates still elevated, the phenomenon dubbed 'date-flation' seems to be outpacing the overall increase in living costs.

The Impact of Rising Dating Expenses

The implications of these rising costs are profound. The data indicates that many Americans are adjusting their dating habits in response to financial pressures—approximately half of those surveyed reported reducing the number of dates they go on or opting for cheaper dating activities. Historically, Americans have typically gone out for dates about 14 times a year, but this average has dropped to around 12 in the most recent survey.

Interestingly, singles are feeling the pinch the hardest; nearly 47% express that dating has become financially untenable. Among couples, a significant rise was noted in financial dependency, with 58% of individuals in serious relationships indicating they rely on their partners financially, compared to 40% from the previous year. This all highlights the growing concern among younger Americans trying to balance their romantic pursuits with their financial aspirations—50% of Gen Z and 40% of Millennials state that dating expenses hinder their journey towards financial objectives.

Who Spends How Much?

Delving into the age demographics, Millennials are currently spending an average of $252 per date—a staggering 32% increase from the prior year, while Gen Z's costs have also ascended, averaging $205, up from $194.

Paul Dilda, Head of U.S. Consumer Strategy at BMO, commented on the data: "With dating costs rapidly increasing beyond inflation rates, it’s becoming difficult for singles to engage in the dating world without feeling financially sidelined. Setting a dating budget and maintaining open financial conversations with partners could help sustain romantic connections without breaking the bank this Valentine’s Day."

Two Distinct Approaches to Dating

With expenses soaring, responses to these pressures reveal a K-Shaped economy in dating behavior. On one end, many individuals are serving up cost-saving measures by opting for free or low-cost dates like picnics or nature hikes. Strikingly, 14% of individuals have reported averaging zero expense on typical dates, up from 12% a year prior. Conversely, at the top tier, another 14% are now spending $300 or more on average dates, an increase from 11% in 2025.

Dilda comments that these divergent behaviors depict a widening gap: "Some are pulling back entirely on date spending, transitioning from fine dining to cooking at home, while others choose to invest in higher-cost experiences despite potential financial strain."

Discussing Financial Responsibilities Early On

The matter of who shoulders date costs has also emerged as a topic of concern. A marked gender disparity remains, with 71% of men typically expecting to cover the full bill during early dates, whereas over half (52%) of women believe in splitting the costs evenly. Overall, 65% of Americans in serious partnerships strive for an equitable division of expenses.

Financial Traits that Attract Partners

Interestingly, the survey also draws attention to the perceived attractiveness of financial acumen in potential partners. Top traits that appeal are:

• - A sense of financial responsibility (94%)
• - A well-structured financial plan (90%)
• - Openness regarding financial discussions (89%)

Conversely, deal-breakers often stem from concerns about poor financial communication and behavior. For instance, 24% of participants are deterred by dishonesty regarding finances, while 17% find reluctance to discuss money troubling. Despite this, half of Americans tend to overlook significant financial red flags, indicating a possible leniency towards certain financial behaviors in their romantic pursuits.

Emphasizing Financial Honesty for Relationship Success

The findings further suggest that transparency in financial matters aids couples in effectively managing dating expenses. Approximately two-thirds (66%) of individuals report always being forthcoming about their finances with partners, which correlates with lower average spending—those who practice financial honesty typically spend around $182 per date, compared to nearly $195 for less open couples.

As Dilda points out, "While disagreements about money are commonplace, our research indicates that financial openness can mitigate conflict, reinforcing emotional bonds and maintaining budget wellness. Meeting with financial advisors could facilitate these important conversations about money, fostering vitality in relationships."

Steps to Financial Progress This Valentine's Day

To assist individuals and couples in navigating rising dating costs, BMO recommends several strategies:

• - Joint Meetings with Financial Advisors: Couples can boost financial communication by scheduling joint consultations.
• - Integrated Finances: As relationships progress, utilizing a joint checking account can streamline managing shared expenses.
• - Comprehensive Budgeting Tools: Utilizing tools like BMO Total Look can help partners visualize finances and collaborate on shared financial goals.

Ultimately, recognizing that rising dating expenses do not have to spell an end to romance is critical. With the right tools and perspectives, love can thrive even amidst the challenges of date-flation.