Trend Of Love Recession, Gen Z Chooses To Save Instead Of Spending Money On A Date

JAKARTA - An interesting phenomenon arises among Generation Z. In the midst of high cost of living, education, and work uncertainty, many young people choose not to spend money at all on dating matters.

The latest Bank of America report found that about 53% of men and 54% of Gen Z women (age 1828) don't spend a penny every month on dates.

Generation Z faces financial challenges that are more difficult than the previous generation. The rental of a place to live, the price of basic necessities, and the soaring tuition fees make them prioritize money over romance.

"They are worried about spending on necessities, renting houses, and eating outside. So it's natural that dating is not considered a priority," said Will Smayda, Head of Financial Centers at the Bank of America, quoted from the Market Watch page.

The dating coach, Damona Hoffman, called this trend a romance treatment or a love recession. He considered that the COVID-19 pandemic was accelerating the decline in dating activities, because it made young people accustomed to online relationships.

"We see a drastic drop in dating. Many Gen Z people even withdraw completely from the world of dating because they feel anxious, especially if they don't have enough money," Hoffman said.

Even so, that doesn't mean Gen Z doesn't care about love at all. Those who are still dating are actually more careful in managing expenses. Michael Kaye, Director of Brand Marketing OkCupid, explained that the date pattern of young people is now more targeted.

"Gen Z is not seeking instant satisfaction. They are dating with the aim, prioritizing compatibility and shared value over luxurious expenses," he said.

Interestingly, many Gen Z feel inappropriate to date because of their small salary or debt. According to OkCupid data, 68% of respondents are willing to date someone who earns less, provided that the person has motivation or does not make money a priority in the relationship.

"What they write on dating apps is sometimes different from reality. When they are emotionally connected, financial factors are usually no longer the main focus," Hoffman explained.

As a result of this love recession, many molecules of life were also delayed. US census data shows that in 1975 around 45% of people aged 25' 34 years were married, had children, and their own homes. However, in 2024, only 21% achieved all of that.

"Their lives are different from their generations of parents. The target has shifted," added Hoffman.

Even so, experts think there is still a way to relieve the pressure on dating. One of them is by changing the way of thinking. Instead of looking at it as a dating fee, they can call it a cost of socialization.

"In the past, going to a bar or club was not always for dating, but for fun. From there, relationships could have formed. I think it's important for young people to keep building real connections, because direct communication skills are getting eroded." said Hoffman.