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Dateflation Is Making Romance Unaffordable
Bad romance // Image by Kait Cunniff with DALL-E
Several new reports suggest that dating is becoming increasingly unaffordable for the average single American.
Why It Hurts: Dating in America has earned a bad rap over the past decade, fueled by the general failure of dating apps, rising social isolation, and now the growing costs of courtship. With the US facing a government-recognized loneliness epidemic, not being able to afford taking someone out to dinner may be a low-key national emergency.
Behind The Check: A dozen roses? In this economy?!
The average cost of a date has climbed 12.5% this year to $189, per data from the BMO Real Financial Progress Index report — far outpacing the 2.8% increase in the overall cost of living.
Financial services firm JG Wentworth found that 86% of US singles say “money concerns have led them to delay dating or reentering the dating pool,” according to Wired.
A study from Louis Jadot and Morning Consult found that 15% of people earning more than $100,000 have cut back on dating, while 33% of those making under $50,000 — in other words, most young people — have stopped dating altogether.
Last Stop: Courtship isn’t supposed to be a luxury line item, but the economics are starting to make it feel that way… and reshaping what dating looks like in the process. Farnoosh Torabi, financial analyst and host of the So Money podcast, told Wired that budgeting for dating “makes it more intentional, but it can also make dating more limited and more unequal.”
That dynamic has led some women to prioritize relationships that offer immediate financial security, while pushing some men to put the idea of finding a partner on hold altogether — trends that could ripple across entertainment, dining, travel, and everything in between.
Next Relationship: Organized, IRL dating events are already back in vogue, which could lead forward-thinking brands to create “dating” loyalty programs that make nights out more affordable and repeatable — essentially a dressed-up version of Groupon.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.