The Financial Cost Of The Pursuit Of Love

In an age where we are more connected than ever, many people struggle to find lasting love. I have friends who go on multiple dates per week with no luck. I also see those who enter early stages of dating and are shocked by the change in their spending patterns. This is the financial cost of the pursuit of love, and some ways to create connections without added financial strain.

Cost Before Getting The Date

According to the How Couples Meet and Stay Together project, the vast majority of United States heterosexual couples met online in recent years whereas in 1940, you were most likely to meet someone through friends, family, or school.

Many forms of online dating come as a cost to the user, before even landing their first date. More and more, apps are limiting the features available to free users, causing those users to pay for premium features. The Knot estimates that on average, a premium dating subscription costs about $20 per month per app.

Cost Of Getting Into A Relationship

For many people, you may not be getting into a relationship with the first person you go on a date with. Like my friends, you might date many people before calling it official with anyone. In a 2024 MoneyGeek study, it was found that the average date in the U.S. costs $123. So, if you are dating a lot, you may be confronted with significant costs.

A survey by Self Financial indicates that on average, it takes seven dates before two people to define their relationship, spending an average of $701.96 over that time. However, that does not put an end to increased costs associated with dating.

Cost Of The First Year

A 2023 survey by Shane Company found that the average American spends $9,233.32 in their first year of love, between date nights, special occasions, jewelry and other gifts, with costs in the subsequent years tapering off significantly.

Ways To Cut Costs And Still Have Fun

Cutting costs of the early dating phase may require some creativity in planning activities. Back when I was single, I used to groan about being asked on first dates at bars or restaurants. Frankly, bars were too loud for me, and restaurants were too big of a time and money commitment for someone I wasn’t sure I wanted to pursue a relationship with.

Here are some low-cost and fun early date ideas:

• Have a picnic in the park.
• Go for a nature walk or hike.
• Cook something together.
• Do a movie night at home with the works (popcorn, sweets, projector).
• Go to a museum on a discounted or free day.
• Go to a farmer’s market.
• Do arts and crafts together.
• Check out local art galleries.
• See if there are any community events like free concerts, festivals, or art shows.
• Go to brunch or lunch instead of dinner.

Mindful Spending

It’s important to note that if you feel the need to spend more than you’re comfortable with to date someone, it may be a good time to set a boundary and lay the foundation for a healthy relationship. If you are mindful about your spending, you can have fun without feelings of guilt when you splurge. Open a discussion for a monthly dating budget to get on the same page about spending and plan dates in advance to be able to take advantage of deals or creative, low-cost activities.

Conclusion

In the pursuit of love, financial considerations play a significant role, from online dating subscriptions to the costs of multiple dates. Although expenses can accumulate, creativity and mindful spending can help maintain balance. By setting boundaries and planning budget-friendly activities, individuals can enjoy meaningful connections without financial strain.

This informational and educational article does not offer or constitute, and should not be relied upon as, tax or financial advice. Your unique needs, goals and circumstances require the individualized attention of your own tax and financial professionals whose advice and services will prevail over any information provided in this article. Equitable Advisors, LLC and its associates and affiliates do not provide tax or legal advice or services. Equitable Advisors, LLC (Equitable Financial Advisors in MI and TN) and its affiliates do not endorse, approve or make any representations as to the accuracy, completeness or appropriateness of any part of any content linked to from this article.

Cicely Jones (CA Insurance Lic. #: 0K81625) offers securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC (Equitable Financial Advisors in MI & TN) and offers annuity and insurance products through Equitable Network, LLC, which conducts business in California as Equitable Network Insurance Agency of California, LLC). Financial Professionals may transact business and/or respond to inquiries only in state(s) in which they are properly qualified. Any compensation that Ms. Jones may receive for the publication of this article is earned separate from, and entirely outside of her capacities with, Equitable Advisors, LLC and Equitable Network, LLC (Equitable Network Insurance Agency of California, LLC). AGE-7491277.1 (1/25)(exp. 1/29)