Money Talk Isn’t Taboo for Gen Z — It’s Hot

Talking about money on a date may not be the social faux-pas it once was, according to a new Chime survey of 2,000 American daters.  

While 23% of baby boomers think discussing one’s personal finances is in bad taste, half of Gen Z and millennial daters don’t see a problem with it. In fact, Chime says that these young daters find it attractive when a date is honest about their income. 

In-the-know dating professionals probably aren’t surprised to hear this, as transparency of all sorts — including emotional and financial — is currently a hit with younger generations. The general consensus is that it’s better to know whether someone is an out-of-control spender or tight-fisted saver sooner rather than later. 

“From budgeting for nights out to managing everyday expenses, having financial confidence makes dating less stressful and more enjoyable,” said Janelle Sallenave, Chief Spending Officer at Chime. And in the dating industry, anything that makes dating more enjoyable to today’s generation of app-fatigued daters is worth exploring.

Younger Daters Are Exploring New Financial Solutions

To split the bill, or not to split the bill? That is the question — and a silly one at that, according to the 45% of Gen X daters and 42% of boomers who told Chime that the man should always pay on a date. Only 34% of women think men should pay for a date, as compared to 47% of men. 

But now, there’s a third option rising in popularity among younger daters: Whoever plans the date foots the bill. This solution is one 28% of surveyed Gen Z daters would call fair and square, a clear sign that some young daters care more about financial transparency than keeping up appearances.  

Still, this doesn’t mean Gen Z daters always make prudent financial decisions. Someone who saves their hard-earned money instead of impulsively blowing it on who-knows-what is more attractive to more than 80% of boomers than the alternative. That’s not the case for Gen Z. 

Some Gen Z daters are still swayed by big spenders: 34% say spending wildly is a positive trait, as opposed to 16% of boomers. 

It seems Gen Z daters are more willing to explore new solutions to common financial problems. The old solutions — men always footing the restaurant bill, for example — worked in an economic reality that no longer exists. 

The gender gap has narrowed, allowing men and women to share more balanced financial responsibilities. And yet, as any actively dating woman could tell you, the gender gap is still very much alive, especially when it comes to finances. 

Gender Divides Are Still Powerful, Even As Traditions Wane 

In this year’s Singles in America study, Dr. Justin Garcia, Chief Scientific Advisor to Match and Executive Director of the Kinsey Institute, explained how Gen Z daters often crave emotional honesty so strongly that they’re willing to break gender norms. 

But when it comes to money, daters have a harder time sticking to modern ideals. “What singles say they want and how they show up often doesn’t align,” Dr. Garcia explained. Chime found that 39% of surveyed men still feel disproportionately pressured to be wealthy, or to at least appear to be wealthier than they actually are. 

This undue pressure throws a wrench in the “Gen Z wants to be honest” trend. “We’re asking people to be a best friend, lover, therapist, and travel buddy all in one, and that’s a lot,” Dr. Garcia said. His point rings true: Good intentions can be steamrolled by societal expectations. 

Societal pressures, along with the economy’s unpredictability, can make the financial honesty Gen Z seems to crave even more difficult to achieve. Just because young daters know they may never be able to buy a house doesn’t mean they want to act like they’re on a budget. 

Bad Money Habits Can Be Dealbreakers 

Some Gen Z daters may be dazzled by flashy purchases, but according to Chime, the rose-colored glasses usually don’t stay on for long.

In fact, as unsustainable financial habits come to light in relationships, money can become a major source of stress. Twenty-five percent of surveyed daters told Chime that money was the biggest stressor in their relationship, with debt topping the list as their most pressing concern (51%), followed by salary (45%). 

Importantly, spending (39%) and saving (35%) habits factor heavily into a relationship’s money-related stress levels, too.

When those rose-color glasses come off (or are returned to the expensive boutique from which they came), big spending becomes a major turnoff for 33% of daters. This is true even if someone is spending beyond their means in an effort to make a good impression. 

Balance is, unsurprisingly, key: Flaunting wealth can be obnoxious, but so can being too stingy, according to 26% of respondents. As always, the most pervasive dating trend, even as it pertains to money, is vulnerability — the ability to express and accept emotions and boundaries while keeping an open mind. 

When one looks at Chime’s survey through a financial lens, it’s clear that today’s daters are ready to move on from the money habits of yesteryear. 

Although the fear of appearing cheap, broke, or unchivalrous occasionally stops men from being honest about their financial situations, they still want to create new financial solutions and traditions that reflect modern life — and they’re depending on today’s dating professionals to help them achieve it.