~ AUGUST 2022 ~
Everything is more expensive nowadays. Even love.
Wining and dining a romantic interest with rising inflation rates is shifting the landscape of dating practices. According to Bloomberg, the consumer price index category for food away increased 7.7% in June from last year, while full-service restaurants went up to 8.9%. Grabbing a simple cocktail isn’t as easy either since costs for alcoholic beverages increase by 4% since 2021 as well.
For those actively on the love hunt, it’s hitting them hard as well. Hinge (a popular dating application) reported that nearly 41% of surveys respondents said they were more concerned with the cost of dates now versus a year ago, with Gen Z the most worried.
Now that inflated costs are a major concern for many Americans, mating with a person who is fiscally responsible is way more attractive than it has been in the past. For example, OkCupid daters who shared that they regularly budget have received 16% more matches and 7% more likes this year than those who don’t.
If you’re a single parent looking for love, inflated costs have likely hit you harder than ever.
A recent survey from Morning Consult, a data firm, found that not only do single parents earn less per month than other adult groups overall, but they’re spending a higher percentage of their income each month, mostly on meals and shelter for themselves and their children.
When asked if they had extra money for leisure, their responses mostly reflected that the answer was no.