Back in the day, the biggest financial question when it came to dating dealt with whether or not to go dutch. Should the man foot the bill? Should the woman at least offer to pay the tip? The answers usually depended on personal preference and length of relationship, and for the most part, didn't really impact the outcome of the evening.
But the times are a changing, and a new survey shows that singles have certain expectations of the monetary cost of dating in America. The results—which go beyond the standard cost-of-dinner question and into personal finance questions and personal spending habits—are somewhat surprising.
Dating can be pricey. There are serious, albeit expected, differences in how much men and women are spending on dates. More than half of men spend more than $50 on a date, while women are three times more likely to spend less than $25. Instead of spending on the actual date, women shell out their cash in preparation. Sixty-five percent spend $50 or more on pre-date grooming and new outfits.
Debt is a no-no. Between men and women, 57 percent say debt has an impact on how they view potential romantic partners, seemingly in a negative way. So how much is too much? According to the survey, more than $5,000 in credit card debt is a total turn off for 74 percent of singles.
Budget savvy is better. Forty-sex percent of women say it doesn't really matter how much a date spends on the evening. Even better? The same women say using a coupon to pay is perfectly acceptable. Overall, most women (58 percent) aren't looking for an expensive date to begin with. Meanwhile, men are putting a lot of pressure on themselves—and their wallets—to impress. Many of them think women have expectations as to how much money needs to be spent on the evening.
Generosity can be sexy, too. The majority of those surveyed (an overwhelming 82 percent) admitted that tipping and donating money would increase their interest in the date. Shorting the server, then, is not advised.
Singles aren't spending. Those without significant others are seizing the opportunity to save—76 percent are saving for retirement and 45 percent are using their tax return to pay off bills and debt.
How much do you spend on an average date?
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