“Cost of Loving” Crisis
A majority of people fear that the cost-of-living crisis will negatively impact their relationships. Millennials are going into debt from dating expenses, from date night outfits to fancy restaurants. The financial strain has made it more acceptable to discuss money and savings in relationships, breaking the taboo of talking about finances in love.
This trend originates from the report:
MTM - 12 Trends of 2023
Whether it’s tension in your long-term relationship or ‘cash-candid dating,’ the cost of living crisis is undoubtedly causing a crisis in our love lives. A recent survey by Stowe Family Law revealed that 66.5% of people claimed they fear the cost-of-living crisis will negatively impact their relationship in the future.
And it's not just established couples that are feeling the financial strain — 22% of Millennials are going into debt from dating as everything gets more expensive - from date night outfits and flowers to fancy restaurants and pricey attractions. However, there are potentially some silver linings to the economic hardships we've found ourselves in. One of which is the newfound acceptability of raising the topic of money and savings in relationships.
Whether it's a first date or further down the line – talking about money situations and long-term fiscal priorities is no longer perceived as a taboo in the language of love..