Gen Z Prioritizes Financial Stability in Dating, New Poll Reveals – But Romance Isn’t Dead
New York, NY – July 15, 2024 – A new study released today reveals a stark shift in dating priorities among Gen Z, with nearly half stating they would not date someone unemployed, even if attracted too them. The findings, conducted by financial wellness platform Pollinate, underscore a growing trend of financial pragmatism influencing romantic choices, even surpassing political alignment as a dealbreaker. This comes as economic anxieties continue to weigh heavily on the generation that came of age during periods of significant financial instability.
While headlines focus on the financial criteria, the broader picture reveals a basic change in how all generations approach compatibility, moving beyond initial attraction to a deeper assessment of long-term financial health. this isn’t simply about income; it’s about shared financial values and a secure future.
According to the Pollinate report, which surveyed over 2,000 singles across all age groups, today’s daters are increasingly scrutinizing spending habits, savings goals, and overall financial compatibility. “We’re asking more about how people handle money, what kind of lifestyle they want and how they see their future,” explains Helen temple, a relationship expert at Pollinate, in an interview with The Post. “Even if two people really get along, diffrent views on finances can cause problems later.”
The study highlights a concerning pattern: nearly 70% of respondents across all generations admitted to staying in relationships longer than they should have due to shared finances, with 25% of those relationships being long-term.This suggests a history of financial entanglement complicating breakups and potentially hindering individuals from pursuing healthier relationships.
The Roots of Financial Focus: A Generation Shaped by Uncertainty
Gen Z’s emphasis on financial security isn’t a surprise to experts. Marisa Cohen, a marriage and family therapist based in Long Island, NY, points to a lifetime of economic turbulence. “The pressure to focus on finances likely feels so urgent because of the economic uncertainty Gen Z has dealt with through most of their lives,” Cohen explains. “Being tied to a relationship in which there is financial insecurity or uncertainty may compete with their own personal goals and pursuits.”
This generation entered adulthood facing the fallout of the 2008 recession, crippling student loan debt – currently averaging over $37,000 per borrower according to the Education Data Initiative – and widespread job losses during the COVID-19 pandemic. These experiences have instilled a heightened awareness of financial risk and a desire for stability.
Beyond Income: The Rise of Financial Transparency
The shift extends beyond simply avoiding unemployment. Dating coach Damona Hoffman, author of “F the Fairy Tale: Rewrite the Dating myths and Live Your Own Love Story,” notes a growing trend of early and frank financial discussions. “daters are terrified of partnering with someone who has bad credit or unmanaged debt,” Hoffman says.”You could have a fancy car, a nice apartment and put your dates on credit cards but be sitting on mounds of high-interest loans.”
Credit scores, debt-to-income ratios, and even budgeting styles are becoming key conversation topics on early dates. Apps like Credit Karma and NerdWallet are seeing increased usage among singles seeking to understand their own financial standing and assess potential partners.Financial infidelity – hiding debt or financial issues from a partner – is also emerging as a significant trust issue.Romance Still Matters: A Balancing Act
Despite the pragmatic focus, the Pollinate study reveals Gen Z hasn’t entirely abandoned the idea of romantic connection.A slim majority, 54%, indicated they would still choose a “broke and magical” relationship over one that’s financially secure but emotionally unfulfilling.
“Gen Z is dating with their eyes wide open,” Temple concludes. “They still want love but only when it fits into a life that feels secure, balanced and true to who they are.” This suggests a desire for a partnership built on both emotional connection and a shared vision for a financially stable future.
Key Takeaways for Daters of All Ages:
Financial compatibility is increasingly significant: Don’t shy away from discussing finances early in a relationship.
Transparency is crucial: Be honest about your financial situation, including debt and credit history.
Shared financial goals matter: Discuss your long-term financial aspirations to ensure alignment.
Don’t ignore red flags: Unmanaged debt or irresponsible spending habits can be warning signs.
* Romance and financial security aren’t mutually exclusive: It’s possible to find a partner who offers both emotional connection and financial stability.
