Is 'Cash-Candid Dating' the Future for a Money-Conscious Generation?

It's no secret that things are getting more and more expensive. In 2022, inflation hit a 40-year high of 9.1 percent. As USA Today reported, the rising cost of living is having a huge impact on young people. However, at the same time, millennials and Generation Zers are "a growing force in investing," and people are beginning their investment journeys at a younger age, according to Fortune Magazine. In other words, financial stability is important to young people, while at the same time, it's becoming harder to achieve.

This scenario provides the perfect breeding ground for a shift in how young people date. According to research from the dating app Bumble, more young singles have decided that honesty really is the best policy, especially when it comes to love and money. Apparently, just more than 1 in 10 people claimed that they started a discussion about money within the first few dates, while only 6 percent said they never talked about money. It seems that attitudes toward dating are changing as more and more people embrace being "cash-candid" in dating.

Dating for a money-conscious generation

Bumble has dubbed this movement "cash-candid dating." Why? As Angela Holton, dating and relationship expert, coach, speaker and author at Love Sanctuary in New York, put it, "It's all about being more upfront about money and earnings and spending habits."

This new trend in opening up about finances on dates is largely driven by millennials and Gen Zers. Millennials generally covers people born from 1981 to 1996, while Gen Z includes people born from 1997 to 2012. 

According to Bethany Nicole, the author of "Apologies I Never Got" and a relationship expert in Los Angeles, there's a reason younger generations are more focused on finances when they date.

"The cash-candid movement is happening now as inflation, cost of living and rent prices are skyrocketing," she said. "People just don't have the same amount of disposable income they once did, so spending a small fortune on a date that ends up going nowhere and not even being a good time just isn't in the cards, or budget, for a lot of people."

Cash-candid dating is about honesty

Ultimately, cash-candid dating is about being honest and upfront about finances to save time and eliminate incompatible partners. This kind of honesty can also help young people stay in control of their financial futures.

"The cash-candid dating trend is all about being honest and purposeful about your finances up front," Nicole said.

"It is about being authentic with a potential date or partner about the state of your finances and about what types of dates fit in your budget for the month, and which ones just don't," Nicole added.

Financial compatibility matters

While some people may think this focus on money is shallow or even irrelevant in the world of romance, according to Holton and Nicole, it can actually be a healthy way to weed out potentially incompatible partners. After all, financial compatibility matters.

Ultimately, Nicole explained, dating someone who doesn't share your outlook on finances can become messy./p>

"Being open about finances allows for deeper compatibility concepts to be presented," she said. "We get an idea of how someone manages money, what they value in a deeper sense and how they view finances as a whole. That gives us a sneak peek into if their money mindset is compatible with ours."

Holton agreed that having open conversations (after a few dates) about money can help you determine your financial compatibility with a potential partner.

"Given that disagreements regarding finances are one of the top causes of marital strife and divorce, money and spending are extremely important conversations to have with a potential partner before advancing a relationship to a commitment," she warned.

Holton suggested asking questions like:

• What are your long-term financial goals?
• Do you invest?
• What do you think of retirement?
• Do you like to shop and spend money?
• What's the most expensive splurge you've ever made?
• What are you unwilling to spend a lot of money on?

How to become more cash-candid on your dates

Alongside the rise of financial honesty, young people (about 1 in 3) are also opting for more low-key dates. After all, if you're willing to be honest about your finances, you can also be honest about wanting to save rather than splurge on your dates.

If you're looking to try cash-candid dating, and save some money in the process, here are a few tips.

"Dating is about getting to know someone and building intimacy and connection," Holton said. "There are many fun dates you can do that don't cost anything but provide great insight into a person and foster connection. Look online for special offers for date ideas you and your date would enjoy like Groupon. Explore free dates like movies in the park or outdoor, physical activities. Happy hours are also inexpensive and great for dates."

"Get creative," Nicole added. "Grabbing a picnic lunch from Trader Joe's and posting up at the park will cost $20 or less and allow you the opportunity to really talk and get to know someone, which can be stifled in a stuffy restaurant setting."

As she summed up, "By beginning to think outside of the box, you can actually have great dates at a low cost."

Even though life is getting more expensive, dating doesn't have to be a financial drain. In fact, by giving cash-candid dating a try, you might even find someone who shares your financial goals—and you might save some money in the process.