It’s tough out there for single people with Valentine’s Day just a week away.
A new BMO survey shows 56% of Canadians say the rising cost of living is affecting dating with many going on fewer dates and or planning less expensive dating activities.
The poll says Canadians on average spend $173 for each date, including the cost for transportation, preparation such as grooming and attire, and expenses such as food, beverages and tickets.
However, the survey also found Canadians could spend up to $3,621 over 10-21 dates before making a relationship official.
The poll found 42% of single Canadians admitted to adjusting their plans for a date for financial reasons and 30% of singles have cancelled a date to save money.
While singles on average have been on three dates in the past 12 months, 55% say they have been on zero dates in the past year.
“While the inflation rate has normalized in Canada, consumer prices are still, on average, 17% higher than four years ago, and food costs are 22% more expensive,” Sal Guatieri, senior economist at BMO, said in a statement.
“Although wages are also rising and borrowing costs are coming down, many Canadians continue to struggle with the high cost of living, forcing some to cut back on discretionary expenditures such as dating.”
The most attractive financial traits include a sense of financial responsibility say 95% of those polled, while the ability to discuss their finances was cited by 88%, having a good financial plan by 87%, and having a successful career trajectory by 83%.
Almost half, or 48%, of single men admit their net worth affects their dating prospects – 12% more than women.
The survey found 33% of couples say spending is often a source of conflict in the relationship and 38% believe their significant other spends too much money.
The poll says 11% of Canadians admit they have not been truthful about their finances to their partner or spouse.
Research for the survey was conducted between Dec. 23, 2024 and Jan. 20, 2025 with 2,500 adults ages 18+ in Canada with a credibility interval of +/- 2% 19 times out of 20.