Gen Z has been facing an uphill battle in the dating scene. Online dating apps, the lack of third spaces, and hookup culture are some of the obstacles that make it more difficult for Gen Z to find their ideal spouses.
You can also add money to the mix. High living costs and expensive dates are further impediments, and a recent Bank of America (NYSE:BAC) study casts light on this issue. The financial institution's "A Window into Gen Z's Financial Health" 2025 report found that 53% of Gen Z does not spend any money on dates. An additional 28% said that they spend less than $100 per month on dates.
Don't Miss:
- The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share.
- Kevin O'Leary Says Real Estate's Been a Smart Bet for 200 Years — This Platform Lets Anyone Tap Into It
Social Events Are Too Expensive
Elevated living costs affect housing the most, but higher price tags show up in other areas of our lives, including social events. The same study found that 42% of Gen Z say they are comfortable declining social opportunities, and they admitted that it's because they can't afford to participate. That's up from 38% last year, based on Bank of America's research.
Sporting events, concert tickets, and dining have all gotten more expensive in recent years. Declining these social events gives Gen Z fewer opportunities to meet new people, which makes dating less attainable. Combine that with fewer people in Gen Z willing to pay for a dating event, and it doesn't paint a pretty picture.
There are still some options for a first date that don't involve breaking the bank. A walk in the park, free local entertainment, and meeting at a cafe are some of the options that Gen Z can consider.
Trending: An EA Co-Founder Shapes This VC Backed Marketplace—Now You Can Invest in Gaming's Next Big Platform
There Isn't A Gender Split On This Issue
Gen Z men and women seem to be on the same page when it comes to saving on dates. Bank of America found that 53% of men don't spend any money on dates, and 54% of surveyed women said the same.
Furthermore, 25% of men spend less than $100 per month on dates, and 30% of women also fit into that category. Part of the reason is that most of Gen Z is dialed in when it comes to knowing their finances. The report found that 69% of Gen Z know roughly or exactly how much they can spend to stay within their means. Only 28% of Gen Z have some or no idea how much they can spend to stay within their means.
Not only do they know how much they can spend, but they also know their balances. The 2025 report found that 84% of Gen Z knew exactly or approximately how much money they had in their checking accounts, and 73% knew what was in their savings accounts. Additionally, 64% of Gen Z knows how much they owe on their credit cards.
See Also: Dump Your Financial Advisors. One AI Platform Manages Everything — With Zero AUM Fees. Book Your Demo Today.
Gen Z Is Treating Themselves Instead
Although more than half of Gen Z won't spend money on dates, they enjoy buying themselves little treats every once in a while. Bank of America found that over half of Gen Z treats themselves on at least a weekly basis. The same research found that 59% of Gen Z occasionally, often, or always spends more than intended on little treats.
"Gen Z likes a little treat, whether to cheer themselves up when they're feeling sad or stressed, or to celebrate a good day or a win," Bank of America said.
The data suggests that some of the money Gen Z saves by avoiding dates goes toward themselves. Some people can't afford to go on dates, while others don't want to deal with the hassle. Comparing 2024 and 2025 results suggests that the cut down in dating budgets will continue to grow.
Read Next: From Chipotle to Red Bull, Top Brands Are Already Building With Modern Mill's Tree-Free Wood Alternative — Here's How You Can Invest Too
Image: Shutterstock
