Is Cash-Candid Dating The Answer To Our ‘Cost Of Loving’ Crisis?

In case you haven’t heard, there’s a cost of living crisis upon us. With the soaring prices of food, housing, and fuel coupled with comparably stagnant wages, financial anxiety is reaching a fever pitch for some. But for those trying to enjoy the dating scene, the cost of living crisis has become the cost of loving crisis. And there’s only so much we can do to control it. Do we need to cull the small joys like the odd Friday night Hinge date just to get by? Not at all, but with our current economic status, many of us are reevaluating how we spend our money and time. And when it comes to cutting down, dating is often the first thing to go.

After all, it’s pretty damn expensive in 2022, and with the horrifying array of dating trends — ghosting, benching and cushioning, to name a few — it’s hardly a guaranteed good time. So if we’re working with limited funds, is it any wonder young people would prefer to spend their earnings elsewhere?

But there are still those trying to explore their options on a budget. So how are money-strapped singles dealing with the financial burden of dating right now? Well, according to new research from Bumble, 'cash-candid dating' is on the rise.

Cash-candid dating is all about being open about your financial situation. While you don’t have to divulge how much is sitting in your savings account, the trend is more about being honest with how much you'd like to spend or can spend on a date so that budgeters don't feel sprung by a pricey venue choice or pressured when the fancy cocktails are coming thick and fast, only to sweat when the bill arrives.  

If you ask us, in times where money talk is still relatively taboo, its presence in dating feels like a rather refreshing shift, and the stats agree.

Bumble’s research, commissioned through YouGov, found that nearly half (42%) of Gen-Z and Millennials now prefer more modest date venues to avoid the stress of money, and almost one in three (30%) users say it’s now more important to talk about finances with the person they’re dating than it was at the beginning of the year.

Furthermore, 30% of people aged 18-34 are more conscious of their date’s budget when suggesting a venue for a date, and one in five people aged 18-34 are more likely to set themselves a budget to spend on a date than they were at the beginning of the year.

While split bills are slowly becoming the norm, there are still stigmas around money talk and the contentious issue of who pays on a date. But perhaps the key to overcoming these issues is simply by being open with each other about what we're comfortable spending.

When polled about the question, answers in our office were varied. But ultimately, while being financially realistic was recognised as a positive thing, there was the risk it could come off as being generally stingy or a pink flag signalling a difference in interests and values.

"Dating is all about getting to know someone," says one dating pollee.

"Being wined and dined is nice but it's not a dealbreaker or expectation by any means, so I'd definitely be open to a cash-candid conversation, as long as it was framed right."

Above all, though, it was pretty unanimous that effort wins over money any day.