Date-flation hits hard: Average date spend nears $200 – BMO Real Financial Progress Index

Ahead of Valentine’s Day, new data from the BMO Real Financial Progress Index reveals the average “all-in” spend on a date in America – including pre-date grooming and gas money – is $189, up 12.5% from $168 in 2025. Those costs add up: Americans spent an average of $2,323 on dates over the past year. With inflation remaining elevated, “date-flation” is far outpacing the broader cost of living.  

As dating expenses climb, Americans say they are changing their behavior. Half say they have gone on fewer dates or chosen less expensive activities due to rising costs. On average, Americans who dated went out about 12 times in the past year, down from around 14 in 2025.  

For singles: According to the survey, cost pressures are taking a toll: nearly half (47%) of singles say dating is simply not financially worth it.  

For couples: 58% of people in serious relationships say they are financially dependent on their significant other, up from the 40% who said the same just a year ago.  

Regardless of relationship status, rising dating costs present a challenge for young Americans trying to make real financial progress. 50% of Gen Z and 40% of Millennials say the cost of dating gets in the way of reaching their financial goals.  

Gen Z and Millennials also report the largest increase in date night spending: 

• Millennials: $252 on average, up 32% from 2025 
• Gen Z: $205 on average, up from $194 in 2025 

“With spending on dating outpacing inflation, singles can feel priced out of love. Whether it’s a long-term relationship or a first date, it has never been more challenging to ensure the path to love is also the path to real financial progress. With a dating budget and open financial communication with their partner, Americans can keep the spark alive without setting flames to their budget this Valentine’s Day.” 

Paul Dilda, Head of U.S. Consumer Strategy, BMO

“Affordating” vs. wining and dining: A K-shaped dating economy 

The data reveal two distinct approaches to coping with higher dating costs: some Americans are cutting back by choosing low‑ or no‑cost dates such as having a picnic or going on a hike, while others are accepting that dating is expensive and continuing to spend. 

14% of Americans say the average date costs them nothing, up from 12% a year ago. At the other end of the spectrum, 14% say a typical date costs $300 or more, up from 11% in 2025. 

“Responses to the increasingly steep price of going out are leading to what looks like a K-shaped dating economy,” Dilda said. “At one end, people are slashing dating expenses entirely, either by skipping date night or by swapping the restaurant for a home-cooked meal and the movie tickets for popcorn on the couch. On the other, some are deciding an expensive date is worth the dent in their wallets.” 

With prices so high, who picks up the tab? There is a significant gender split over who should foot the bill in a budding relationship. Nearly three in four men (71%) expect to pay for everything when on a date early in a relationship, while more than half of women (52%) expect to split the bill. 65% of Americans in serious relationships say they try their best to divide costs evenly.  

Financial green and red flags 

According to the survey, Americans’ attractiveness to a prospective romantic partner is more about good financial habits than what’s in their bank accounts. The top three most attractive financial traits are:    

• A sense of financial responsibility (94%)   
• Having a good financial plan (90%)   
• Talking about money openly with me (89%)   

By contrast, the most common financial dealbreakers relate to poor communication and behavior: 

• Not always telling the truth about money (24%)   
• Refusing to talk about money (17%)   
• Having minimal retirement savings (14%)   

Notably, half of Americans say that they can overlook financial red flags, selecting none of the above traits as a dealbreaker in a partner.  

Financial honesty is the best romantic policy  

The data suggests that openness about money may help couples manage dating costs more effectively. Two in three (66%) Americans say they are always financially forthcoming with their romantic partners. Those who report being financially honest spend less on a typical date, spending $182 on average compared to nearly $195 spent by those that say they are not.  

"While many couples disagree about money, our data suggest financial openness can defuse the drama, keeping your emotional connection strong and your budget healthy,” Dilda said. “One way to stay in harmony when it comes to finances is to meet with an advisor who can prompt the honest money conversations that sustain a relationship.” 

To learn more about how BMO can help love birds make real financial progress, visit BMO’s Real Financial Progress Hub at https://www.bmo.com/goals.