Looking to date? You may need to ask for a raise

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A new study conducted by OnePoll on behalf of Simple.com explores the spending habits of young Americans on the dating scene. According to the massive survey of 2,000 citizens, the average non-married person spends just about $168 a month on dates, while the average married person spends about $185 a month on the very same.  This sums up to roughly $121,082.40 in dating costs over the course of a lifetime. From the report:

“As a result, it’s no wonder singles are avoiding the dating scene. Nearly a quarter (24%) of the singles surveyed revealed they avoid dating because they don’t have the finances for it and they don’t feel comfortable with their current life situation — including their financial situation.”

 

An even higher percentage (64%), go and date despite their lack of funds but believe they would be meeting more interesting suitors if they had the cash to fund robust dates. Financial stressors only increase after courtship, however. Just about half of the respondents agreed that being in a relationship is far more expensive than being single, with more than half saying that they fight with their spouse frequently about how to split the check.

Even more interesting is how people that couldn’t afford the dates they were on improvised.  Some phoned a friend for a money transfer, some pretended to lose their wallets and others even sold their watches. Fifty-one percent simply canceled scheduled dates after estimating they were strapped for cash.

Although nearly 30% said that they would gladly go into debt for the right partner, the survey revealed there isn’t really on consensus on who should pay on the first couple of dates. Sixty-six percent of men offer to pay the full price while 19% suggested going dutch on the first date. Forty-two percent of women offer to pick up the tab on the first couple of dates and 24% offer to go 50/50.

“Discussing who will pay the check can be one of the first times a date or new couple navigates a financial decision,” explained Steph Reiley, Director of Product Management for Simple.com. “As a relationship grows, integrating tools, like having a shared account or tools to plan expenses, can help couples continue those discussions to build a solid financial foundation.”

Check out the remaining finds from the report below:

Top 5 reasons people avoid dating

1. I prefer hanging out with my friends                                 25%
2. I don’t have the finances for it                                              24%
3. I don’t feel confident in my current life situation        24%
4. I am introverted                                                                           21%
5. I don’t like meeting new people                                          21%

Top 5 relationship milestones that need to occur for money to no longer matter

1. Go on at least five dates                37%
2. Have sex for the first time           36%
3. Have our first kiss                            35%
4. Be ‘official’                                           34%
5. Meet their parents                          34%

Top 5 ways to keep the spark alive in relationships

1. Enjoying dinner and drinks                      60%
2. Date night at least once a week           54%
3. Physical affection                                        52%
4. Attending a concert or show                 48%
5. Celebrating milestones                            46%