Every facet of American life is getting more expensive. Gas is averaging almost $5 a gallon. Round-trip domestic flights are up 8% from just a few months ago. Grocery prices haven’t decreased since the COVID-19 pandemic (and continue to increase). It feels like your streaming services are tacking an extra couple of dollars onto your bill every few months while demoting your plan benefits. A good Martini will run you at least $18. A bad Martini will also run you at least $18.
All that said, it’s really no surprise that inflation has also come for our love lives. The phenomenon has even earned its own term — “loveflation” — and it’s affecting how Americans date.
“Loveflation is the rising cost of connection,” explains Farnoosh Torabi, a personal finance expert and host of the podcast So Money.
Dating, going out, simply enjoying a relationship outside of the home is in jeopardy because of the rising cost of everyday expenses. And it’s not just hitting single-income daters, but established couples as well, making everyone who’s looking to create or deepen romantic connections reassess how they date.
“Just like when you see food prices go up and it changes how you meal plan, [inflation] is affecting people’s decision making about dating and how much they spend,” Torabi says. “With prices going up in restaurants and other recreational places, we’re like, ‘Maybe we should rethink how we’re dating.’”
A study commissioned by French wine brand Louis Jadot and conducted by Morning Consult found that more than half of Americans say rising costs are reducing how often they go on dates, with 27% saying they’ve stopped dating altogether. The cohorts most affected? Young people. According to the survey, 62% of Gen Z and Millennials say rising costs have changed how often they go on dates.
While inflation might act as a cockblock for some, it hasn’t entirely deterred daters from seeking relationships. They’re just dating with intention, Torabi says.
Everything You Wanted to Know About Money and Dating But Were Too Afraid to Ask
We chatted with a financial therapist and a business podcaster on all things dating and money“Intentional dating” has been a phrase used by dating experts to describe the recent shift away from dating apps and towards real-life experiences that foster organic connection. But now, that term may be used to describe not only how people meet but the types of dates they plan to go on.
“Rather than blindly picking a restaurant or saying yes to everything, [daters] are having conversations with themselves, with their partners, about what’s really manageable,” Torabi says. “I think sometimes we go on autopilot with a date. Dinner, drinks and then off to the next place. You have to take transportation into account — gas, or if you live in a city, Uber. All of those things add up.”
While it sounds less than ideal, having to think outside the box rather than resorting to the usual cocktail bar or dinner date can actually wind up creating a more memorable experience.
“You have to think creatively,” Torabi says. “How can we do something at home, at least for half the night? Can we cook at home and then go out for dessert? Can we take a bottle of wine and some apps to a park? We’re also seeing people pre-gaming more. It used to be something you did in college, but now Gen X and millennials are pre-gaming at home before they go out. They can enjoy a bottle of wine at home before getting upcharged at the restaurant.”
Many Americans are feeling the financial burden of inflation, but your love life shouldn’t have to suffer because of it.
“You’re not alone in understanding that outside is expensive and you have financial priorities,” says Torabi, who adds that talking about money and budgets isn’t as taboo as it once was. Financial transparency is a catalyst for your relationship’s longevity.
“Especially if you see this person as being a long-term partner, it’s never too soon to start talking about your aspirations together,” Torabi adds. “Saving money is not unsexy. Saving money means you’re upholding your values and your goals together.”
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