Dating and Your Finances

It’s February, which means that Valentine’s Day draws near. For some, it’s a fun occasion to renew an intimate relationship. For others, it’s another unwelcome chance to be reminded of the lack of a relationship. And for still others in the early stages of “trying out” a relationship, it’s a time of hopeful anticipation—often with a healthy dose of nervous apprehension mixed in.

Whatever your current attitude toward romance, it’s a certainty that dating—both for those in a steady relationship and those just taking first steps—is not an inexpensive activity. According to a recent survey jointly conducted by banking and finance app Simple and market research company OnePoll, most of us can expect to spend around $100,000 on dating during our lifetimes. The poll of 2,000 Americans found that the average single person spends about $168 per month on dating, which adds up to over $100,000 when spread over a 50-year “dating lifespan.” It’s no surprise that 70 percent of those surveyed describe dating as expensive.

And you shouldn’t assume that the spending ends once you’re in a relationship, even if you’ve found “the one.” Couples spend an average of $185 per month, and 49 percent of those say it’s more expensive to be in a relationship. So much for “two can live as cheaply as one.” It makes sense; most couples with healthy relationships place importance on regular date nights, celebrating milestones (e.g., anniversaries) in a special way, and making regular time for enjoying time together. All these things cost money.

In keeping with the modern proverb, “there’s no romance without finance,” 62 percent of those surveyed say the main reason they don’t have a more active dating life is because they lack the funds to do so. And by the way, the financial burden of dating isn’t felt only by men; though 66 percent of men say they typically offer to pay for the date, 42 percent of women say the same thing.

But let’s face it, the benefits that most people are looking for in dating aren’t primarily financial. For most of us, finding someone to care about and share life’s experiences with is more about emotional fulfillment than financial planning.

On the other hand, there are ways to cultivate a relationship, have fun, and learn more about each other that don’t require spending money. Parks, museums, public gardens and arboretums, and hiking trails offer abundant opportunities for having fun, absorbing culture, and even getting some fresh air and exercise together, often without spending a dime. And for a low-cost alternative to having dinner out, try a breakfast date. For book-loving couples, an hour spent browsing at a bookstore or, even better, a library, can provide an occasion for making memories together. For two people who genuinely enjoy each other’s company—or want to find out if they do—a date doesn’t have to be pricey to yield a good time.

At Empyrion Wealth Management, we specialize in helping women in transition make wise choices for spending, saving, and investing. To learn more about how we help women harness the power of choice, click here.

Stay Diversified, Stay YOUR Course!

Empyrion Wealth Management (“Empyrion”) is an investment advisor registered with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940. Information pertaining to Empyrion’s advisory operations, services and fees is set forth in Empyrion’s current Form ADV Part 2A brochure, copies of which are available upon request at no cost or at The views expressed by the author are the author’s alone and do not necessarily represent the views of Empyrion. The information contained in any third-party resource cited herein is not owned or controlled by Empyrion, and Empyrion does not guarantee the accuracy or reliability of any information that may be found in such resources. Links to any third-party resource are provided as a courtesy for reference only and are not intended to be, and do not act as, an endorsement by Empyrion of the third party or any of its content. The standard information provided in this blog is for general purposes only and should not be construed as, or used as a substitute for, financial, investment or other professional advice. If you have questions regarding your financial situation, you should consult your financial planner or investment advisor.

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