Gen Z can’t afford love — most spend $0 on dates every month: survey

They’re a budgeted bunch of penny-pinching pups. 

Gen Z is not wooing the objects of their affection with top-tier rendezvous nor top-shelf spoils. In fact, most 20-somethings, grownups born after 1997, aren’t spending a dime on dates — and it’s paying off big time, per Bank of America’s new Better Money Habits study. 

“The cost of adulting is high,” said Holly O’Neill, president of Consumer, Retail and Preferred Banking at Bank of America, in the report. “But Gen Z is not giving up, they’re getting savvy.”

Savvy, stingy — either way you slice it, they’re not breaking the bank for love. 

Researchers determined that a staggering 53% of Gen Z gents and 54% of their lady counterparts spend $0 a month on dates. But a slightly less-tightfisted faction of Zoomers, 25% of men and 30% of women, keep their canoodling costs under $100 each month. 

The newcomers to adulthood aren’t shy about setting boundaries with pals and romantic partners when it comes to money.

A whopping 66% of Gen Zs claim they simply don’t give in to “pressure” from others to spend beyond their means. Within that faction, 42% say they’re comfortable declining invitations to social (including romantic) opportunities they can’t afford and 23% admit to bailing on hot plans in order to save a few extra coins.

It’s a cheapskate trend on the rise amid nationwide financial woes. 

Although the US economy is doing its darnedest to avoid another recession, anxious Americans of all ages are busy changing their spending habits in preparation for the worst-case scenario. 

Investigators from Affirm, a fin-tech company, recently found that 50% of folks are keeping stashes of cash on hand in fear of unexpected expenses or financial uncertainty, while 41% are managing their budgets with fixed, predictable payments, and 36% are thinking more long-term than ever about their finances. 

Forward-thinking, rather than wining-and-dining, seems to be the name of the game for Gen Z. 

A shocking 51% of the youngsters surveyed in Bank of America’s poll identified the high cost of living as a barrier to financial success. Thirty-five percent admitted that their total monthly expenses — including groceries, rent, utilities and dining out — are higher than they’d imagined before becoming financially independent. 

“Even though they’re facing economic barriers and high everyday costs,” said O’Neill, “they are working hard to become financially independent and take control of their money.”

Over the last year, 72% of the Zs have taken steps to improve their financial health, such as putting money toward savings (51%) or paying down debt (24%), according to the data. 

An impressive 64% are doing away with their frivolous expenses, seeing 41% cut back on dining out — be it solo or with a sweetheart. 

Skimping instead of splurging is a key reason Gen Zs are outpacing older generations in savings. 

So, there may be some value in being young, dumb — but flush with funds.