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Key Takeaways Dating has become a financial luxury for Gen Z and young millennials.
In a recent survey, more than half of unmarried 22- to 35-year-olds said that lack of money was their biggest barrier to going on dates.
Many young adults say they would like a partner partly to cope with high living costs, yet they can’t afford the upfront cost of dating to find one.
Gen Z is increasingly choosing not to date because of the high cost of going out.
According to a national research project from Brigham Young University’s Wheatley Institute and the Institute for Family Studies, more than half of single young adults ages 22 to 35 cite financial struggles as their biggest obstacle to dating.
The survey, released earlier this year, found that only about 30% of young adults are dating at all, and just 31% say they date at least once a month. Nearly three-quarters of young women (74%) and almost two-thirds of young men (64%) reported they hadn’t dated or had dated only a few times in the past year.
For a generation just starting out, financial reality can interfere with plans to meet people and connect. Dating feels almost impossible when confronted with a lackluster job market and rising costs of living, according to a recent New York Times report.
In cities like New York, that pressure intensifies. A high cost of living can cause an expensive dinner date to break the bank. A survey from BMO Financial Group found that Gen Z spends more than $200 on an average date night, including the cost of transportation and getting ready.
Gen Z isn’t willing to pay the price
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