More than 1 in 5 Americans say inflation has affected their dating lives
Negative Effects of Inflation on Dating
According to a new survey conducted by The Balance, 44% of dates have decreased among individuals due to rising prices. The reduced number of dates was the most common response regarding how inflation has impacted their dating lives among survey participants.
Inflation’s Impact on Romantic Activities
About 1 in 4 people surveyed by The Balance say they are dating, and an estimated 90% of them reported that inflation has affected their romantic lives. However, this doesn’t necessarily mean they are not dating at all – 1 in 3 daters surveyed say they are more likely to meet virtually rather than in person due to rising costs.
Cutting Back on Dating Expenses
More than a third of daters surveyed say they are trying to spend less money on dates, and 40% of them say they are more likely to suggest free activities instead, making it the second most common response to inflation among daters in the survey.
Inflation’s Impact on Overall Spending
Americans are now forced – whether they are dating or not – to tighten their financial belts. Nearly 60% of participants in the survey conducted by The Balance say they are spending less money on activities such as movies, concerts, and sporting events. Rising costs for dining out and entertainment may require prioritizing essential expenses over those that would simply be nice to have.
Cost of Dates
According to a separate survey conducted by The Balance in December 2021, Millennials spent an average of $69 on first dates. About 1 in 4 were willing to pay more than $100 on a first date, while a similar number reported spending at least $250 monthly on dating.
However, your decision to cut back or increase spending can impact your dating life. Nearly 22% of daters surveyed last year said they were more likely to accept a second date if their date paid for the first one, and about 18% said how much their date spends affects the likelihood of going out with them again. That was before high prices began to deplete our wallets.
But inflation doesn’t have to prevent you from meeting new people. If dating is important to you, there are ways to save money and budget so you can set aside some extra cash for dates. Look for free or low-cost activities in your area so you can go out on dates without emptying your wallet. And don’t be afraid to set financial boundaries for yourself – anyone who doesn’t respect them probably isn’t worth your time. Or your money.
Survey Methodology
The Balance conducted a survey among 1,200 Americans from June 30 to July 9, 2022. The survey was conducted online through a self-administered questionnaire managed by a market research vendor. To qualify, survey participants (18+) must manage at least part of their own finances. Quotas were used to ensure national representation for gender, race, region, and generation, using U.S. Census estimates (2019 ACS) as a benchmark. Quotas were also used to match national representation for political affiliation using the American Trends Panel from the Pew Research Center (2022) as a benchmark.
Research and analysis by Amanda Morelli
Amanda Morelli is the General Manager of Data Journalism at Dotdash (the parent company of Money), overseeing the development of original data journalism projects for publications across the company. She designs and implements original research and analysis, identifying opportunities and strategies for exploration.
Sources:
U.S. Bureau of Labor Statistics. “Consumer Price Index – June 2022”.
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