Half of U.S. Gen Z Say They Spend $0 a Month on Dating Due to High Cost of Living

Gen Z's Dating Habits Revealed by Bank of America Survey
Nearly Half Spend $0 Per Month on Dates
28% Spend Less Than $100, Citing High Living Costs

As job shortages and high inflation intensify, a recent survey has found that Generation Z (ages 18 to 28) spends virtually nothing on dating. On August 16 (local time), U.S. media outlet MarketWatch reported that, according to a financial health report released by Bank of America (BoA) based on a survey of Gen Z, 53% of male respondents and 54% of female respondents said they spent $0 on dating in a month.

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Conversely, less than half reported any spending at all, and 28% said they spent less than $100 (approximately 140,000 KRW) per month. Additionally, 42% of respondents stated, "If I can't afford it, I find it easier to decline social activities altogether."

The primary reason Gen Z is reluctant to spend money on dating is the "high cost of living." About half of the respondents said, "I don't spend money on dating because living expenses are too high." Will Smead, head of BoA's financial center, explained, "Gen Z is worried about grocery prices, concerned about rent, and anxious about the cost of eating out." In fact, the U.S. core consumer price index (excluding food and energy) for July rose by 0.3% compared to the previous month, marking the largest monthly increase since January this year.

High housing and childcare costs are also cited as reasons why younger generations are postponing not only dating but also marriage and childbirth. According to the U.S. Census Bureau, young adults are increasingly prioritizing financial stability over family planning. The S&P 'CoreLogic Case-Shiller' National Home Price Index, which tracks U.S. residential real estate prices, has nearly doubled over the past decade, and as of 2022, annual childcare costs in the U.S. reached up to $15,600 (about 2,168,000 KRW). College tuition also rose by 36.7% between 2010 and 2023.

It is also noteworthy that dating itself is changing. Michelle Kaye, Marketing and Communications Director at the dating app OkCupid, told the media, "Gen Z dates with intention and prioritizes compatibility and shared values over flashy spending," adding, "We often see Gen Zers say they can't date because of economic pressures such as debt or low wages."

There have even been cases where people develop romantic feelings for generative artificial intelligence (AI). According to a joint survey by dating app companies including OkCupid, about one-third of single Gen Z respondents have used AI as a substitute for a romantic partner or conversation companion. In this context, LinkedIn Chairman Reid Hoffman remarked, "If there's a free 'Chad' (a fictional AI character) on your computer, why spend money to meet a real person who might reject you?"

Meanwhile, in April last year, a survey conducted by the matchmaking company Gayeon among 500 unmarried men and women aged 25 to 39 found that the average spending per date was 74,700 KRW. In particular, those in their 20s spent 71,000 KRW per date, while those in their 30s spent 78,400 KRW.

This content was produced with the assistance of AI translation services.