Nearly half of single Canadians are questioning the financial cost of romance, a recent study reveals. Faced with rising inflation and everyday expenses, 49% now believe dating simply isn’t worth the money, leading to a significant shift in how – and how often – people are seeking connection.
The average date now carries a hefty price tag of $174, factoring in everything from transportation and grooming to the cost of food, drinks, and entertainment. This financial burden is causing many to scale back, with 50% reporting they’ve opted for fewer or less expensive dates in recent months.
The pressure to impress isn’t helping. Almost a third of singles (29%) feel obligated to plan extravagant dates, and a concerning 35% say these costs are actively hindering their ability to achieve their financial goals. This impact is felt more acutely by men, who are 16% more likely to feel pressured and 7% more likely to report financial setbacks.
Dating activity itself is slowing down. While the average single person has gone on four dates in the last year, a striking 55% haven’t been on a single date. Financial constraints are directly influencing these decisions, with one-third altering plans and a quarter outright cancelling dates to save money.
A clear divide exists regarding who should foot the bill. The majority of men (58%) still believe they should cover the entire cost, while a significant 72% of women prefer to split expenses evenly. Few, only 23%, anticipate their date covering the full amount.
Economic realities are undeniably shaping the landscape of modern romance. Experts point to a 20% increase in the cost of living over the past five years, coupled with rising youth unemployment and stagnant job growth, as key factors driving this trend.
Beyond just affordability, financial responsibility has become a highly sought-after trait in a potential partner. A staggering 95% of singles prioritize financial stability, followed closely by open communication about money (92%) and a solid financial plan (85%).
Net worth is increasingly influencing dating prospects, with 41% believing it impacts their own chances and 39% using it to evaluate potential partners. Men are notably more likely (8% more) to feel their financial standing affects their dating life.
Certain financial behaviors are absolute dealbreakers. Dishonesty about money tops the list (54%), followed by a refusal to discuss finances (41%). Other red flags include unwillingness to spend on shared priorities (23%), a low credit score (21%), minimal retirement savings (15%), and a significant income disparity (14%).
These concerns aren’t isolated to dating. Overall financial anxieties are on the rise, with Canadians increasingly worried about the cost of living (57%), inflation (53%), potential recession (46%), and their overall financial situation (36%).
