Cleo's 2023 Dating and Money Report

How couples and singles are saving, spending, discussing, and thinking about their money. 

'Dating and money report' text

Valentine’s Day is around the corner. For new couples, this holiday can either make it or break it. It forces the question: how serious is the relationship? Serious enough to spend the day together?

And when things do get serious with a partner, when and how do conversations about money come into play?

This Valentine’s Day, Cleo is shedding light on how couples and singles are saving, spending, discussing, and thinking about their money.

How Couples Approach Finances

  • #RelationshipGoals: 73% of couples talk about personal finances at least once a week, followed by 17% saying they talk about finances at least once a month.
  • While money issues are being discussed in the majority of households, men still dominate financial decision-making. 45% of men say that they manage all of the finances in their household vs 36% of women.
    - The biggest divide is for Millennials, where more than half of the respondents said that all of the financial decisions in the household are made by men.
  • Gen X looks to be "the worst" generation in terms of using tools to manage their finances, and they're twice as likely not to use money management tools or open dialogue with their partner compared to other generations.
    - Millennials are most likely to have regular meetings or conversations with their partner (47%) or use budgeting or money management apps (46%) vs Gen Z.
    - Women are nearly twice as likely to say they or their partner don't use any tools to manage money.

How does money impact singles’ dating lives?

  • $51-$100 is the sweet spot for the cost of a first date across all generations. Gen X are more likely to spend over $100, whereas Millennials are more likely to stick to a budget under $25 on a first date.
    - Twice as many men would spend $100+ on a first date vs women going on a first date.
  • Dating continues to be an investment despite a wary economic outlook. More than half of the respondents said that they have never declined going on a date because they didn’t want to spend the money to go.
  • Experiences of financial infidelity make you more cautious: 1 in 3 people have broken up with their partner because their partner lied about money. This same person is also most likely to talk to a new partner about finances early on in a relationship.
  • 31% of people are bringing up the topic of personal finances on the first date or within the first few dates. Men, however, are the ones driving the conversation about money from the early stages of dating.
  • 81% of women say that good money management is an important trait that they are looking for in a partner. Men are less concerned about this with 30% of men saying that money management is not an important trait that they are looking for in a partner or that they simply don’t care if their partner has this skill.

Tell us how money impacts the way you date on Instagram or Twitter @meetcleo.

Also, if you want to see where your money's been going and win $500 this Valentine’s Day (who wouldn’t?) type “roast my ex” in the Cleo app between February 6 and February 14 and follow us at the links above for contest entry instructions.

Methodology: Our findings are from 770 U.S. adults surveyed in January 2023, who are either married, in a relationship, or single.

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Big love. Cleo 💙

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