How To Date on a Budget

Thanks to inflation, going out on a date has gotten a lot more expensive.

According to a survey by LendingTree, 65% of singles say inflation is affecting their dating life. And in a separate survey by Self, three-quarters of Americans say they’re looking for low-cost dates.

While dating has gotten pricey, it doesn’t have to break your bank account. Learning how to date on a budget can help you rein in costs — while also improving how you evaluate a future mate.

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Set Expectations for Yourself

The most important thing to do when dating on a budget is to set expectations for yourself. 

Doing this will create guidelines for you to follow and set parameters that a good date will hopefully respect.

Review your budget and allocate a portion of it to dating activities. Create boundaries around what you can actually afford versus what activities might add financial stress to your life.

For example, even though going on a date used to be dinner and a movie, times have changed. Just because that’s how your parents used to date doesn’t mean that’s how you need to date.

Using your financial reality as your baseline, redefine what dating looks like for you. Maybe that means grabbing an affordable coffee and taking a walk or making a homemade picnic to enjoy in the park.

Set realistic expectations for yourself based on what you can afford and how much you actually want to spend. 

Pushing your boundaries to accommodate someone who doesn’t fit within your budget will only set you up for heartbreak later on.

READ MORE: 4 Money Talks You Need To Have in a New Relationship

Create a Dating Sinking Fund

Once you’ve established how much you’re willing to spend on dating — and if you’re actively looking to date — create a sinking fund that you can use as your dating money.

Each time you get paid, send some money to your sinking fund. For example, if you’ve decided you can afford to spend $200 per month on dating, take $100 from each paycheck and move it into your dating fund.

This will protect your regular budget. If you don’t spend your full dating budget each month, keep it in your sinking fund and roll it over to the next month. 

You’ll gradually create a buffer for yourself over time and have more to splurge on in the future.

RELATED: How Much Should You Save a Month?

Attend Free Events to Find Prospective Dates

Put yourself in situations where you can meet someone who also doesn’t want to break the bank on dating. You can use a platform like Meetup to find free or low-cost events in your community. 

When you go to free events, you’re meeting people who share similar interests and values. If you meet someone at a free event, chances are they’ll enjoy continuing to go on low-cost dates with you in the future.

Volunteering is another great option. This doesn’t cost anything but your time, and it may be something that you and a potential mate can continue doing together later on.

Identify Activities That Fit Your Budget

Unless you already know the person you’re taking out on a date, there’s a good chance your first date will be an evaluation session. You’ll spend most of the date sizing each other up to decide if you want to proceed with a second date.

Rather than investing in an expensive dinner, start with a free activity. Then, once you’re more established with a new partner, consider occasional splurges as special nights out.   

Here are a few ideas to get you started:

Free date ideas

• Take a walk in the park
• Attend local festivals
• Go on a picnic
• Watch an outdoor movie

Low-cost date ideas

• Meet up for coffee
• Go out for breakfast
• Grab drinks during happy hour

Splurge date ideas

• Book fancy dinner reservations
• Go to a nice cocktail bar
• Get tickets to a movie
• Attend a concert

To stay within the limits of your budget, use a budgeting app to keep track of your expenses. This will help you know when you’re about to go over, so you can recalibrate your expectations.

RELATED: How to Change Your Relationship with Money

Embrace Savings

If you’re the one who’s footing the bill for a date, look for ways to save money.

If you’re a student, use your student ID to tap into hidden discounts. Your student ID can often get you access to low-cost events or discounts at restaurants around campus.

For employees, look for discounts that come as part of your benefits package or corporate sponsorships. One employer I worked for had all sorts of discounts, including discounted tickets to Kings Dominion in Virginia.

You can also use credit card rewards to offset the cost of dating — cashback cards can save you money on dinners or nights out.

For example, the Capital One Savor Cash Rewards Credit Card and the Chase Freedom Unlimited® both earn increased cashback on dining out and don’t charge an annual fee.

COMPARE: Best Credit Cards for Restaurants and Dining

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TL;DR: Dating Doesn’t Have To Be Expensive 

Dating on a budget will not only prevent you from going into debt, but it can also weed out prospective partners who don’t align with your financial goals. Not every date is worth splurging on.

Consider this: If you want to keep costs low but your date isn’t cool with that, is that someone you actually want to invest time building a relationship with?

For more tips on managing your money and your social life, check out these episodes of the Erika Taught Me podcast:

• Are Your Relationships Healthy?
• How To Put Yourself First and Stop Wasting Time on Meaningless Connections
• How To Know You're Dealing With a Narcissist

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Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.