Dating in Gen Z: Money trumps love. According to a study, almost half of Gen Z prioritizes financial stability over romantic connections.
Milwaukee/USA – For younger couples, money has a higher priority than romantic love. This is the sobering result of a study published by the US insurance company Northwestern Mutual. In the “Planning & Progress” study, 2,700 people were asked about money and its influence on their lives.
Almost half (49 percent) of Generation Z believe that financial security within a relationship is more important than compatibility.
But that's not all: almost a third (32 percent) of Gen Z, young adults born between 1996 and 2009, believe that the topic of money should be discussed before a serious relationship. For Millennials, the number is even higher (40 percent). More than 7 in 10 Americans (72 percent) across all age groups believe this discussion should happen “well before marriage or cohabitation.”
Generations ABC: Who is actually who?
Generation Alpha (from 2010): Generation Alpha, born in 2010, follows Generation Z. As the first to grow up completely with 21st century technologies, they are even more digitally influenced. Their way of life is influenced by continued digitalization, political instability and demographic change.
Generation Z like Zoomer (1997-2009): Generation Z, or “Zoomers,” who grew up with the Internet and mobile devices, are digital natives. As lone fighters and individualists, they focus on personal goals, use social networks without regard for privacy and maximize experiences. Knowledge is accessed via the Internet depending on the situation.
Generation Y / Millennials (1981-1996): Generation Y, or Millennials, experienced uncertainty caused by events such as 9/11 and youth unemployment. As “Generation Why,” they emphasize joy in work, self-realization and leisure over status. As the first digital natives, many HENRY's (= High Earners, Not Rich Yet) earn well, but are not yet rich.
Generation X (1965-1980): Generation X was shaped by technological progress, environmental protection, economic crises and rising unemployment. Work is the central meaning of life; they emphasize alternative lifestyles and work-life balance, but experience a lack of orientation.
Generation (Baby) Boomers (1945-1964): The baby boomers experienced an economic boom, highest birth rates and few crises. Characterized by competitive behavior, they emphasize attention and individuality, and fall into the period of the peace and environmental movements.
Money and Love: The Generational Scissors
The Northwestern Mutual study also shows that younger couples, compared to older couples, have increased difficulty staying on the same page financially, which can severely impact their relationships. So-called Boomers are almost 20 percentage points more likely than Gen Z to say that they are on an equal footing with their partners when it comes to financial management (85 percent vs. 67 percent). Among Millennials, 77 percent said finances are an important topic in their relationship.
34 percent of Gen Z couples said finances are a major challenge and the most difficult topic within their relationship. Among boomers it was only 17 percent. There was particular agreement on this point among Millennials at 42 percent.
Pandemic and other crises: The causes of Gen Z dating burnout
According to one, the fearful Generation Z prioritizes money over true love Survey by the online credit portal Lendingtree from September 2022 also on the current inflation after the global corona pandemic. The survey, which asked 1,578 users about their dating habits, shows that the majority of participants said dating would be easier if they had more money. Almost one in five people also say they have fewer appointments due to inflation.
The majority (77 percent) of respondents believe that finding a partner would be easier if they were better off financially, with men (83 percent) emphasizing this more often than women (73 percent). Still, 32 percent are willing to go on a date even if they can't afford it, with men (36 percent) agreeing more often than women (30 percent).
Lack of money due to inflation influences 19 percent of daters who say they are going on fewer dates. Another 14 percent try to spend less money on dates. Overall, 22 percent of Millennials (26 to 41 year olds) and 19 percent of Gen Z (18 to 25 year olds) said they went into debt because they spent money on a date.
Generation Incapable of Relationships: Is Inflation Killing Romance?
Regardless of the current phase of the relationship, 54 percent of men think they should pay for the first date, while 26 percent of wom
en advocate sharing the costs. Generation Z prefers that either the person inviting them pays (34 percent) or the costs are shared (32 percent). Millennials (22 percent) are more likely to go into debt due to dating expenses. About 6 percent of Americans have had their card declined on a first date, with those making $75,000 to $99,999 annually and those making six figures the most likely to still get a second date (6 percent each).
Matt Schulz, chief credit analyst at Lendingtree, explained in an interview with CNBC: “Everything gets more expensive. And it's not just the new clothes, the roses, the ride, the fancy dinner, the concerts, or the coffee after the show – it's everything.” Schulz continued: “The additional cost of each of these things may not be earth-shattering on their own, but taken together they can be a very big deal.”
Gen Z in the TikTok craze: “I collect men like Pokémon's”
A recently published TikTok video by Gen Z influencer Suki Tegan also caused a stir. She collects “men like Pokémon's” and told her community of around 155,000 followers that dates are “for money, not for love”:
A user commented under the video: “As a man, this video makes me kind of sad,” to which Evil Suki replies: “How you make a bed is how you lie” and it is “simply an unspoken agreement that you are pretty and he is rich. ” (ls)
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