Too expensive to date: how cost of living pressures are derailing the quest for love

More than one in three Australians admit they have spent more than they intended on a date to impress their partners or a new love interest. A Finder survey of 1,070 people found 14 percent have spent more than they could afford on dates, while a further 21 percent say they have also gone over budget but could afford to do so.

Finder’s money expert, Rebecca Pike, said: “Millions of people are finding that their simple quest to find love is derailing their financial wellbeing. Aussies have less disposable income in general due to the cost of living crisis, and spoiling a potential love interest or overspending on a date is adding to the money stress.”

The research found younger singles were more likely to go over budget on dates, with 23 percent of Gen Z respondents and 22 percent of Millennials spending more than they could afford versus just seven percent of Gen Xers and five percent of baby boomers.

Ms Pike said Aussies should start with simple, affordable dates with someone new.

“’Fake it until you make it’ is a risky dating strategy. You may get stuck with some spending habits and decisions that you’re paying off long after the romance has fizzled out.”

While many Australians are prepared to go over budget to woo a beau or belle, another survey shows some people are becoming less inclined to shout a round or pick up the bill when dining out and socialising with family and friends.

A survey of 2,000 Australians by NAB Economics found 54 percent prefer to split the bill these days, with this figure rising to 72 percent among 18 to 29 year-olds.

“Young Australians are embracing ‘loud budgeting’ and getting more comfortable with talking about their financials,” said NAB personal everyday banking executive, Kylie Young. “It isn’t surprising that extends to splitting the bill, as they confidently step away from the social pressure of ‘shouting a round’.”

The majority of older Australians are still paying for each other, with only 32 percent of over-65s saying today’s high cost of living made them more inclined to split the bill. Interestingly, splitting bills is least common among low-income earners (39 percent) and more common among high–income earners (63 percent). When separating the bill, almost four in 10 prefer one person to pay and the others to transfer their share. About three in 10 prefer to pay their share with a debit or credit card.

Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market.

The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index.

Energy was the notable exception, gaining more than one per cent as Brent crude traded above US$103 a barrel. Oil had moved higher amid uncertainty surrounding potential US diesel-export restrictions and broader geopolitical supply risks. The move supported energy producers but renewed concern about inflation inputs across transport and the wider economy.

Gold shares were weak even as spot bullion remained historically elevated. The All Ordinaries Gold index fell about 2.25 per cent, showing that equity performance can diverge from the commodity because of valuation, currency, operating and company-specific factors.

Zip was a prominent loser, falling 11.38 per cent after the company reported short sales after the previous close. Nine Entertainment also weakened after UBS analysts warned of near-term revenue challenges associated with its advertising-supported subscription tier.

Premier Investments led larger winners despite caution about the retail environment. Breville, in which Premier owns a significant stake, also appeared among leading movers. In the broader ASX 300 screen, Myer gained 11.43 per cent and MAAS Group rose 7.93 per cent, while Lotus Resources fell 10.53 per cent. These percentage moves should be checked against company announcements and trading liquidity before attributing causes.

The Australian dollar was broadly flat at US70.38 cents. Spot gold was around US$4,280 an ounce, Brent crude approximately US$103.08 a barrel and iron ore near US$96.90 a tonne late in the session.

The rate outlook remains the central domestic catalyst. Labour-market weakness has not eliminated the possibility of an RBA increase next week, leaving banks, listed property and other rate-sensitive sectors exposed to changing expectations.

Market dashboard

S&P/ASX 200: 8,702, down 0.72 per cent.

All Ordinaries: 8,897, down 0.66 per cent.

Best sector: Energy, up more than one per cent.

Weakest areas: Real estate and materials were the major drags; confirm final sector percentages before publication.

Material winner: Premier Investments led the large-company gainers. Confirm its final closing move from the ASX before publication.

Material loser: Zip, down 11.38 per cent.

ASX 300 percentage leader: Myer, up 11.43 per cent.

ASX 300 percentage laggard: Zip, down 11.38 per cent.

AUD/USD: Approximately US$0.7038, broadly flat.

Too expensive to date: how cost of living pressures are derailing the quest for love

The ‘fake till you make it’ approach to impress a date is a risky strategy for many, experts warn