How Dating Has Changed: A Personal Story About Modern Relationships

A little personal story first. My first wife passed away several years ago, and when I began dating again, it was certainly a new world that I knew nothing about. I used a dating app and when I had a first date, I insisted on picking my date up at her home. That’s how it was done the last time I did this, right? That was hard for my date. She didn’t know how things were going to go and she needed a way to leave if they didn’t go well. Well, they went pretty well. I married her almost four years ago.

As I discovered, dating has changed over the years.

Average Cost of a Date in America Has Surged 12.5% — Outpacing Inflation

I didn’t think much about what I would spend on that first date. But, would you believe there is a survey that includes data on the average cost of dating in America? And, it’s getting pretty expensive to take someone on a date. According to the BMO Financial Group’s 2026 BMO Real Financial Progress Index, the average spending on a date, including pre-date grooming, gas money, a meal, and entertainment has climbed to $189, up 12.5% from last year. That far outpaces the overall inflation rate.

Dating Costs by Generation: Millennials, Gen Z, Gen X, and Baby Boomers

The survey broke down the cost of dating by age groups too. Millennials are the big spenders, averaging $252 on a date. Gen Z is next at $205, and us older folks are dating for less. Gen X averaged $173. And Baby Boomers are spending $126.

Who Should Pay for a Date? What Men and Women Really Expect

It’s also fascinating to look at who men and women think should pay for the date.

71% of men said they expect to cover most, or all, of the cost of the date. Just 10% of women expect to pay, but 52% said they expect to split the costs evenly, while 38% expected the other person to pay, compared to just 7% of men.

How Social Media Is Distorting Dating Expectations and Financial Decisions

So, why does all this matter? Well, a CNBC report interviewed a sociologist who worked for two popular dating apps, and she says social media is making dating expectations more extreme by feeding men and women different narratives about dating and money.

As an example, she says women are often told to accept only expensive dates as proof of value or interest, and some men are told not to spend money at all on dates.

Americans’ Savings Rate, Household Debt, and Credit Card Balances: The Bigger Economic Picture

I ran across this article while looking at other economic data showing the savings rate for Americans has dropped to 3.6%, the lowest rate since the COVID pandemic, and far lower than the historical average of between 6 and 8%. Household debt is at $18.8 trillion, and credit card balances are at $1.25 trillion.

Don’t Let Social Media Control Your Finances: Keep Your Personal Finances Personal

We talk about it often, that you cannot afford to let social media make any financial decisions for you. The keeping up with the Jones’ mentality will crush your financial future. I never thought dating was right up there with boats and vacations, but I guess it can be.

Your personal finances are just that. Personal. And dating should be too. Understand your limits, and if it’s true love, what you spent on the date won’t matter.

Securities are offered through LPL Financial, Member FINRA/SIPC. GenWealth Financial Advisors is an other business name of Independent Advisor Alliance, LLC. All investment advice is offered through Independent Advisor Alliance, LLC, a registered investment adviser. Independent Advisor Alliance, LLC is a separate entity from LPL Financial.