More than 50% of Gen Z Americans are spending $0 on dating — and the reason is even more heartbreaking

Dating has taken a backseat for Gen Z, and rising costs have a lot to do with it. A new "Better Money Habits" survey from Bank of America found that more than half of young adults in the U.S. are spending zero dollars on dating each month. According to the data, 53% of Gen Z men and 54% of Gen Z women reported spending $0 on dates. Another quarter of men (25%) and nearly a third of women (30%) said they kept their dating budgets under $100 per month. Inexpensive date ideas are rapidly on the rise now.

A growing number of Gen Z adults say they feel the weight of financial pressure — 51% identify the high cost of living as a major barrier to success, and 35% said their total monthly expenses were higher than they’d expected. Every day, spending on things like groceries, rent, and utilities often leaves little room for social outings or romantic gestures. Holly O’Neill, president of Consumer Banking at Bank of America, said Gen Z isn’t giving up but adapting, as per the New York Post. "Even though they’re facing economic barriers and high everyday costs," she said, "they are working hard to become financially independent and take control of their money." Inexpensive date ideas can include chatting over ice cream while sitting on a park bench, playing boardgames in a garden, going for a stroll and more.

Dining out — traditionally a core part of dating — is one of the first things they’re cutting back on. 41% have reduced how often they eat out, whether alone or with a partner. Another 23% are shopping at more affordable grocery stores. That shift in mindset extends to social situations. 66% of Gen Z say they’re comfortable declining invitations to events they can’t afford, and 42% have said no to plans, including romantic ones, to avoid overspending. Cheap date ideas are winning over large, grand gestures. HR consultant Bryan Driscoll told Newsweek that Gen Z is more practical. "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," he said. The survey also found that financial support from one's family is dropping. Just 39% of Gen Z adults say they receive help from family members, down from 46% a year ago.

And those who do get help are receiving smaller amounts. Most don’t have enough saved to cover three months of expenses, and more than half say they don’t earn enough to support the lifestyle they want. Still, many haven’t stopped treating themselves altogether. Small weekly purchases are common, although 59% admit that these moments of indulgence sometimes lead to overspending. While traditional dating culture might associate love with splurging, that model doesn’t hold the same weight anymore. Affordable date night ideas are taking precedence, with people going old-school and just taking the time to talk through the first few dates.

Financial literacy instructor Alex Beene pointed to larger systemic challenges. "This data may not indicate Gen Z is not dating," he told Newsweek, "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." Experts also say the trend could have long-term effects on how young people approach relationships and family. "Gen Z is likely to delay starting families or opt out altogether. Child care and associated costs remain financially unsustainable for many, making the traditional path of early family formation increasingly unrealistic," said Kevin Thompson, CEO of 9i Capital Group.