The Cost Of Finding Love

Finding our soulmate is finding us in debt.

With rising inflation and high gas prices, it sure is getting expensive to date these days. In fact, it’s even causing some of us to go into debt! (Picture your favorite telenovela gif.)

According to a recent Lendingtree survey, 22% of millennials (ages 26 to 41) and 19% of Gen Zers (ages 18 to 25) have gone into debt from what they’ve spent on dating. Overall, those surveyed said they spend on average $91 for a night out. Those who identify as women said they would spend an average of $81 on a date, while those who identify as men said they would spend an average of $104. And the worst part – what if the date is horrible? That money could’ve bought a month’s worth of tacos!

But Everything Is Expensive 

When you think about it, not only have restaurant prices, concert tickets, movie tickets, gas and ride-sharing gotten more expensive – but so has the cost of clothing, haircuts, make-up, manis and pedis – things we buy and services we use to prep ourselves for our dates. No wonder why we’re going into debt!

How Can We Fix This?

One way is to stop dating entirely. But that’s not fun. Especially after the last couple years we’ve had with all the mass isolation (unless you’re Latino and chances are you spent more time with familia during the pandemic than any other.) We’re more than ready to interact with the gente.

The first thing you should do is be honest with yourself. If you can’t afford the expensive restaurant, you shouldn’t be going there. Tell your date and choose someplace less expensive. Who knows? Maybe your date was thinking the same thing and now you’ve just made a deeper connection. 

Also, who wants to be in a relationship with someone who spends money carelessly and is constantly broke? Those usually don’t end well – especially if you start footing the bill for them because you really, really like them and don’t want to lose them. Danger zone!

Another thing that works against us when dating is when we use credit cards and mobile apps to pay for things. It makes overspending too easy. Perhaps use cash when you can so you’ll be forced to spend only what you bring.

It’s All About Budgeting

You may want to create a “dating budget”. A budget will keep you focused on how much you are spending. Just set aside a specific amount of money each month and call it your “Dating Fund”. Try your best not to spend more than this. That way, you can still date and not feel like you’re drowning in debt.

Also, first dates don’t always have to be at fancy restaurants. The good news is 85% of Lending Tree survey takers said they wouldn’t feel offended if their partner took them on a low-cost date. Take some homemade comida to the park for a picnic, go to free museums, meet-up for a cup of coffee. Maybe only then if there’s a spark, you can budget more money for future dates.

Need help setting up a dating budget? Click here to download the SUMA app for a quick and easy way to get started – right on your phone!