Ah, the familiar feeling of leaving a date with a sour taste in your mouth and an emptier wallet. If you’ve ever experienced that special tingly feeling in your gut that screams, “What a waste of money,” then you’re not alone. Recent findings reveal that the cost of modern dating is hitting Canadians hard as they gear up to find a lasting partner ahead of Valentine’s Day.
- Canadians are shelling out an average of $173 per date, according to a survey of 2,500 adults. This amount includes transportation, food, drinks, tickets, grooming, and clothing for the occasion.
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On average, it takes about 10 to 21 dates before Canadians commit to a partner, translating to a hefty total of up to $3,621 spent on dating before making the relationship official.
Many daters find these costs exorbitant, with two in five single respondents feeling that their first date was a waste of time and money. Moreover, 38% of respondents feel that dating expenses hinder their ability to achieve other financial goals. This has led to 55% of single Canadians not going on any dates in the past year, despite having been on an average of three dates in the previous 12 months.
Interestingly, while three in five Canadians are unwilling to pay for dating services, those who are open to spending on such services would only be willing to pay up to $16 per year. This reluctance to invest in matchmaking services may be attributed to the current economic climate and financial anxieties looming over Canadians.
Inflation, dropping interest rates, and the looming threat of a trade war with the United States have added to these financial worries, causing concerns about the cost of living and a possible recession to rise in the past three months. BMO’s real financial progress index indicates that consumer costs remain higher than they were four years ago, with dining out expenses reportedly up by 22%.
Despite the rise in wages and the drop in borrowing costs, many Canadians are still grappling with the high cost of living, forcing them to cut back on discretionary spending such as dating. As financial pressures continue to mount, it’s evident that the price of love in today’s world comes with a significant price tag.
In conclusion, as Canadians navigate the complexities and expenses of modern dating, it’s crucial to strike a balance between the pursuit of love and financial stability. Prioritizing financial goals while also indulging in romantic endeavors may require creative solutions and mindful spending to ensure a harmonious relationship with both love and money.
