Dating Budget: How to Budget for Dates
Typically men are the paying party when it comes to dates, especially for first dates (as written assuming the majority of couples within heterosexual relationships), and having the funds to pay for dates is one of the considerations in dating. Setting up a dating budget is important. Men are traditionally responsible for paying for dates (traditional relationships). However, since modern women make their own money, some believe this may change the majority discussion with future dating conventions.
Etiquette seems to dictate that whoever asks for the date is responsible for paying, but this differs for some of the older generations who have the traditional notions of dating. We are not judging right from wrong, but if it isn’t discussed previous to the date, one would assume still today that the man pays and that “Going Dutch” would not be the norm. Some guys do indeed feel the pressure to drop a lot of money on the first couple of dates in order to impress a woman, and therefore having some understanding of the cost obligation is at least a consideration. In the gay community, there is no clear rules or traditions.
Adding to dating woes is the current inflation which may have an impact and is a consideration for all. This past summer, the dating app Hinge found that almost half of its users are more concerned with the costs of dates now versus a year ago. Thirty percent say they prefer sober dates, because they are more affordable.
The amount spent is certainly relatable to ones working status or how much cash flow is present, i.e., if you were a college student for instance, one shouldn’t have expectations of a five star dinner. Hopefully, your date is understanding, but no promises.
Should I budget for a date?
Yes, dating can be costly, and if not planned correctly could lead your date washing dishes after the bill comes. If you’re dating regularly, those outings can add up quickly, taking a bite out of your bank account and/or throwing your budget off kilter. One of the greatest tips we saw was, ‘aim to connect, not impress.’ Expenses like restaurants, bars, premium dating apps and Lyft rides will add up quickly, especially if you date often. You should prepare for this inevitability by making it a separate line item in your budget.
How much should I budget for dates?
There’s no getting around it, dating costs money. According to a 2020 survey by LendingTree, the average first date costs $77, and the average American spends $697 on dating annually. If you consider that a steep price, you’re not alone — one in three Americans have declined a date because of money. There is the 50-20-30 rule, which is intended to help individuals manage their after-tax income, primarily to have funds on hand for emergencies and savings for retirement, but this doesn’t necessarily include budgeting for dating. The 50-20-30 rule is a money management technique that divides your paycheck into three categories, but these categories differ by who you ask: 50% for the essentials, 20% for savings and 30% for investments or could be 50% for needs, 30% for wants and 20% for savings or paying off debt. Either way, planning for your dating life is important. Try setting a Budget and sticking to It. How much to actually budget relies on too many factors to actually recommend a number.
Be realistic on your date’s potential budget
Imagine for a minute if you were paying for both parties on a regular basis. It is awesome to be on the receiving end and having your meal, your drinks, or other items taken care of for you. You feel so pampered and taken care of, maybe loved depending on your love language. But, while you might enjoy going to Michelin star restaurants, the other person is watching how you spend their money. If they feel that they’re spending more on you than they are comfortable with, they’re not going to keep you around for long. If you’re primarily on the receiving end, help to understand the situation and find a way to contribute, even in a small way.
