The average Brit spends over £1k to find the love of their life
How much would you pay to find the love of your life?
Younger singletons are spending more than a third more on dates than those over 55s
· The number of paid dating app users has shot up 75% in the past five years
· 17% of Brits won’t travel more than 20 minutes for a date
· An unlucky 14% have had a date ‘forget their wallet’
Single Brits spend more than £1,000 on dates during their search for love, with young people (18-24) spending considerably larger amounts to find their perfect partner, according to new research.
Money.co.uk investigated Brits’ dating expenditure to understand the true cost of love, revealing that the typical singleton has attended an average of 24 dates in their life so far with at least nine different people, laying out on average £42.37 a date – totalling £1,017 over a dating lifetime.
The data shows the increasing financial pressure placed on younger singletons, as respondents aged 16-24 spend 38% more than those over 55.
Money.co.uk also analysed the latest reports from Statista on dating app usage, finding that it’s not just the cost of the dates themselves that contribute to the price of finding love, with the number of paid users on dating apps increasing by a colossal 75% between 2017-2022. This outstrips the growth in the general number of dating app users in the UK, which has increased by 31% over the same period.
Given the high costs involved, many are keen to cut corners, with 15% of Brits searching for discount vouchers ahead of their dates. However, others are going to even further lengths to save their money as 15% reveal they’ve been forced to pay the whole bill for a date that has ‘forgotten their wallet’.
Brits’ most common experiences whilst paying the bill on a date:
Date ‘forgot their money’
Date asked them to pay the whole bill
Sent an itemised bill by their date
Bill was put on Splitwise and they were asked to pay half
Paid the whole bill because a date unexpectedly left
Asked to send money after an unsuccessful date
Despite an upward trend in people willing to pay more money in the search for love, data shows Brits aren’t willing to spend more time – as almost one in five (17%) won’t travel more than 20 minutes for a date.
Brits are racking up quite the tab at dating hotspots – despite the average singleton dating nine different people before finding a partner. 1% of the population have had to kiss at least 70 frogs before settling down.
Brits’ attitudes towards splitting the bill
Despite changing world views towards splitting the bill, 12% of men say they would still get offended if their date offered to pay, and three-quarters of men say their views on bill-paying haven’t wavered over time.
Salman Haqqi, Personal Finance Editor at money.co.UK said: “Just as dating can be an exciting and thrilling experience, it can also be a time of nervousness and worry. As the cost of living continues to rise, singletons may be feeling the financial strain of dating more than ever.
“But with almost a quarter (21%) of Brits saying they spend money on first dates in the hope it’ll lead to a second, it’s clear that finding a partner ranks higher in importance. Finding love shouldn’t have to put anyone in the red and there’s no reason to splash the cash in order to impress someone. Whether it’s a date at a swanky hotel or a walk in the park, connections are formed on a lot more than your surroundings.”