Dating app Bumble has found that the rising cost-of-living has led to a new trend of ‘cash-candid dating’ - which refers to being more honest and open about finances with your date. New consumer research reveals that talking about your money situation on a date is no longer taboo, with some straight-talking Gen Z and millennials discussing their salary with a new flame almost straight away.
This openness about finances and dating has led to a rise in ‘low-key’ dates - a date with little to no costs involved, which ultimately leads to less financial pressure. Across the UK, 1 in 3 people (34%) aged 18-34 are now more likely to suggest a free date activity, such as a walk in the park or on a beach, than they were at the start of this year.
Bumble’s research, commissioned through YouGov, has found that amongst Gen-Z and Millennials (people aged 18-34):
- Nearly half (42%) of people would now prefer modest date locations to avoid any pressure or stress about money, leading to a rise in ‘low-key dating’
- Almost one in three (30%) people say it’s now more important to talk about finances with the person they are dating or in a relationship with than it was at the beginning of the year
- One in ten (11%) people say they would talk about salary on the first few dates, as it’s important to know these things about a potential partner
- Only 6% of people never talk about finances with someone they’re dating - suggesting that for the majority of people money is no longer an early taboo
- Almost one in five (19%) people say that it is more important to them now to be with someone that is financially stable than it was at the start of this year
Compared to other generations, concerns and pressures about spending are having a bigger impact on Gen Z and millennials:
- 30% of people aged 18-34 are conscious of their date’s budget when suggesting a venue for a date - compared to just 19% of people aged 35-54
- One in five (21%) 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 - compared to just 12% of people aged 35-54
Bumble has partnered with Alice Tapper, financial expert behind popular social media platform, Go Fund Yourself, to provide some tips on how to approach conversations about money with your date - from advice on suggesting to split the bill, to how to handle chats about salary.
How to suggest a low-key first date
Being 10 minutes into a three-course dinner and realising there is zero vibe is an expensive but avoidable situation. Save yourself the pain of having to think up an elaborate excuse in the loo (your mate suddenly contracting a tropical virus is not compelling…) and kick things off with a short and simple low-key date. A walk in the park on a sunny Saturday, a quick coffee. You get the idea. Bumble’s interest badges are a great way to find out more about what makes a person tick, so look out for these on your date’s profile and use as inspiration to suggest your low-key date activity.
How to suggest splitting the bill
It’s a controversial one, but in my view, nobody should be picking up the full tab unless they really, really want to. Times are tough and thankfully we’re moving beyond gendered expectations of who pays for what. Whilst paying can be a kind gesture, it often creates unhelpful expectations and pressure. On the first date in particular, there’s no shame in confidently asking ‘shall we split?’ In fact, research from Bumble shows a quarter (25%) of Gen Z and millennials believe that you should split date costs even if you and your date have different salaries.
How to figure out if you’re on the same page about finances
So, how do you work out someone’s values when it comes to finances? Having open conversations about money and earning with your date - also known as ‘cash-candid dating’ according to Bumble, are good places to start. On a first date, you can kick things off with questions like ‘Is work important to you or a means to an end?’ Down the line, you might move on to bigger conversations like whether they prioritise saving and paying off debt. Remember, there are no right answers - it’s just about what your values are and whether they align.
And remember…values over wealth
Lastly, whilst we’ve all heard the advice that it’s important to find someone who has the same values as you, remember that financial values are a ‘thing’ to. We’re all guilty of making assessments about a date, but what someone earns is only half the story - whilst it’s ok to want financial stability, someone’s behaviours and values around money are more important than what they earn.
