American singles are drowning in $2,323 date tabs

Dating in the U.S. is starting to look less like a social ritual and more like a recurring financial obligation. What used to be a casual night out now comes with a price tag that rivals a monthly utility bill. New data from BMO’s Real Financial Progress Index shows the average date costs $189, pushing annual spending to $2,323 for active singles. 

That shift is forcing many people to rethink not just how often they go out, but whether dating fits into their financial priorities at all. As everyday expenses remain elevated, romance is increasingly competing with savings goals, debt payments, and basic living costs, turning personal connections into a measurable budget trade-off.

Date-night costs are climbing faster than broader inflation

The typical all-in cost of a date reached $189 in 2026, a 12.5% increase from $168 a year earlier, according to the BMO survey. That growth rate is far outpacing the broader cost of living, the report noted. When you factor in grooming, transportation, and the event itself, each outing now commands a significant share of disposable income.

Half of all respondents said they have either reduced the number of dates they go on or switched to cheaper activities because of rising prices, according to BMO data. The average number of outings dropped from roughly 14 in 2025 to about 12 this year, a decline that signals a clear behavioural shift across the country.

The financial pressure is reshaping how singles think about relationships entirely, and nearly half of single Americans (47%) told BMO researchers that dating is not financially worth the investment.

Millennials and Gen Z are absorbing the steepest dating cost increases

The generational breakdown in the BMO survey reveals that younger Americans are shouldering the heaviest financial burden when it comes to romance. Millennials reported spending an average of $252 per date, a 32% increase from the prior year. Gen Z respondents said they spent about $205 per outing, up from $194 in 2025.

Those per-date numbers translate into a meaningful share of annual income for young workers. Using Bureau of Labor Statistics median earnings data for full-time workers ages 16 to 34, the typical Gen Z dater’s annual dating bill of roughly $1,845 represents between 3% and 5% of gross pay, CNBC reported.

“We’re seeing that there is this increased cost of living, and it’s lowering our dating frequency and how we’re seeing or perceiving dating,” Sabrina Romanoff, Harvard-trained clinical psychologist, told CNBC.

Half of Gen Z respondents and 40% of Millennials said dating expenses directly interfere with their ability to reach personal financial goals, the BMO survey found. For a generation already contending with elevated student loan balances and a competitive housing market, an additional $2,000-plus annual spending category puts meaningful pressure on savings timelines.

Dating costs are rising fast, with Millennials and Gen Z spending more per date, putting real pressure on income and savings goals.

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A growing divide separates frugal daters from big spenders

The BMO data reveals what Paul Dilda, head of U.S. consumer strategy at BMO, described as a split in how Americans are responding to expensive romance. On one end, 14% of respondents said a typical date costs them nothing at all, up from 12% a year earlier. On the other end, 14% said they spend $300 or more per outing, up from 11% in 2025.

The pattern suggests two very different coping strategies forming simultaneously. Some singles and couples are swapping restaurants for home-cooked meals and replacing movie tickets with hikes and picnics. Others have decided the cost is worth it and are leaning into expensive experiences despite the budget strain, Dilda said in the report.

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There is also a notable divide on who pays. Nearly three in four men (71%) expect to cover the entire bill early in a relationship, the survey found. More than half of women (52%) said they prefer to split costs. Among couples in serious relationships, 65% reported trying to divide expenses evenly.

Farnoosh Torabi, a personal finance expert and host of the So Money podcast, said financial considerations are surfacing in romantic relationships more frequently than most people want to acknowledge.

The key, she noted, is to rethink the assumption that a memorable date requires a large price tag, according to a Maison Louis Jadot survey, a press release indicated.

Financial honesty correlates with lower date spending

The BMO survey uncovered an unexpected connection between transparency and cost. Two in three Americans (66%) said they are always financially open with their romantic partners. Those who reported being forthcoming about money spent an average of $182 per date, compared with nearly $195 for respondents who said they were not, the survey found.

That $13 gap per outing may seem modest, but across a full year of dates, it adds up to more than $150 in savings for couples who talk openly about budgets and priorities.

Dilda noted that couples who set a dating budget and communicate openly about their financial goals are better positioned to maintain both their relationship and their long-term savings plans, according to the BMO report. Meeting with a financial advisor can prompt the kind of honest money conversations that sustain a partnership, he added.

When love becomes a line item

The rising cost of dating is reshaping both behavior and expectations, according to the BMO Real Financial Progress Index. Some singles are scaling back, opting for fewer outings or lower-cost alternatives, while others continue spending heavily despite the strain, BMO data show.

What stands out in the data is not just the price itself, but how it is influencing decision-making, from who pays to how often people meet. Financial transparency appears to offer a modest advantage, suggesting that honest conversations can reduce pressure without eliminating the experience.

As costs continue to climb, dating is becoming less spontaneous and more deliberate, with individuals weighing emotional returns against financial impact in ways that were far less common just a few years ago.

Related: Single women crossed a line in housing no one saw coming

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