More than half of Gen Z adults reported spending nothing on dating each month, according to results from Bank of America‘s 2025 Better Money Habits study.
With a third of young Americans in the survey saying they are stressed about their finances, 53 percent of men and 54 percent of women said that they are spending $0 a month on dating.
Why It Matters
The spending patterns of Gen Z, which consists of Americans aged 13 to 28, could highlight broader generational shifts brought on by higher living costs, possibly lower financial support from family and evolving social expectations.
According to the survey, the frugality might not just be relevant to how Gen Z dates but also to their drive toward financial independence, even as they confront challenges with income, savings and economic stability.
What To Know
The majority of Gen Z men and women saying they spent no money on dates in a given month contrasts some with traditional dating expectations where spending on meals, entertainment and gifts has often been seen as integral.
“Gen Z is dealing with an inflationary environment that neither their parents nor grandparents have experienced,” Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. “The cost of living, combined with stagnant wages, creates financial pressures that are simply not conducive to dating or starting a family.”
The trend is part of a wider pattern with nearly three-quarters of young adults surveyed saying they took actions to improve their financial health in the last year, from cutting expenses to increasing savings, and 51 percent identified high living costs as a barrier to achieving their financial goals.
The survey was conducted between April 4 and April 25 with over 900 participants aged 18 to 28.
Of those who said they did spend on dating, 25 percent of men and 30 percent of women said they spent less than $100 monthly.
“I wouldn’t call Gen Z cheap, just cautious, especially financially,” HR consultant and generational expert Bryan Driscoll told Newsweek. “In their short lives, they’ve lived through economic collapse, inescapable student debt, and an impossible housing market. It’s no surprise they’re not spending on dating when many can barely afford rent.”
Bank of America President of Consumer Banking Holly O’Neill said in the survey’s release that Gen Z is “challenging the stereotype when it comes to young people and their finances,” noting that they are dining out less, shopping at more affordable grocery stores, and setting budgets.
Nearly two-thirds (64 percent) of Gen Z adults reported proactively cutting expenses, with 41 percent dining out less and 23 percent shopping at more affordable grocery stores.
At the same time, fewer young adults are receiving financial support from family (39 percent compared to 46 percent a year earlier) while those still getting assistance are receiving smaller amounts, according to Bank of America’s data.
Over half (53 percent) said they don’t make enough to support the lifestyle they want, and 55 percent are unable to cover three months of expenses from their emergency savings. However, efforts to save and budget have not stopped young people from treating themselves to small weekly purchases, though 59 percent say that this sometimes leads to overspending.
Support for lower-cost and more equitable dating experiences appears strong among both Gen Z and Millennials. A different survey from fashion retailer PrettyLittleThing found that 60 percent of Gen Z and 96 percent of millennials would not spend more than $50 on a first date.
The move toward frugal dating is also set against the backdrop of high student debt and the lasting economic impact of the COVID-19 pandemic.
Many Gen Zers report greater comfort discussing finances early in relationships and are more likely to alternate who pays for dates or to “go dutch.”
Banking app Chime found 43 percent of Gen Z and millennial respondents said higher earners should pay on dates more frequently, while 57 percent said people should alternate paying on dates.
What People Are Saying
Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: “This signals that Gen Z is likely to delay starting families or opt out altogether, contributing to declining birth rates. Previous generations benefited from lower housing costs, manageable inflation, and wages that allowed them to establish families much earlier.”
HR consultant and generational expert Bryan Driscoll told Newsweek: “Older generations chased romance through spending. Gen Z is focused on intimacy and shared values, boundaries and shared intent.”
Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: “Inflationary pressures have weighed heavily on businesses that ordinarily serve as the background for the dating scene. Restaurants have faced difficulty getting customers to come in due to higher prices. Venues like movie theaters, bars, and concert venues are the same way.”
“This data may not indicate Gen Z is not dating, but rather they’ve moved nights with their significant others to more home-based activities like a private dinner or streaming entertainment from the couch to save on costs.”
What Happens Next
The Bank of America survey suggests Gen Z’s cautious approach to spending, on dating and beyond, is likely to continue as long as economic uncertainty and high living costs persist.
The shift toward low-cost dating may influence broader relationship and social trends, as Gen Z continues to prioritize financial health, independence, and transparency.
“The broader implication is a continued decrease in birth rates as younger people postpone or choose not to have children at all,” Thompson said. “Child care and associated costs remain financially unsustainable for many, making the traditional path of early family formation increasingly unrealistic.”
The post Most of Gen Z Is Not Spending Any Money on Dates appeared first on Newsweek.
