When it comes to first dates, the age-old question isn’t just “what to wear” or “where to go” – it’s increasingly “how much should I spend?” With inflation affecting everything from dinner prices to movie tickets, singles are finding themselves caught between wanting to make a good impression and maintaining their financial health.
The pressure to splurge on elaborate first dates has become a real budget buster for many Americans. But according to personal finance expert Fred Harrington from SaveMyCent, a Brooklyn-based digital savings platform, the secret to dating success isn’t about how much you spend. Instead, it’s about spending smartly.
Harrington, who has been helping people navigate financial decisions since 2019, believes that setting clear spending boundaries from the start creates a healthier foundation for both your wallet and potential relationships.
The Smart Spending Formula For First Dates
Harrington recommends following the “5% rule” for first date spending. “No more than 5% of your monthly disposable income should go toward a first date,” he explains. “This keeps you within a comfortable range that won’t impact your essential expenses or savings goals.”
For someone earning $4,000 monthly after taxes with $1,000 in disposable income, that translates to a $50 maximum for a first date. This approach ensures you can afford multiple dates without financial strain while still having options for enjoyable experiences.
Harrington’s 4 Budget-Friendly First Date Ideas That Actually Work
- Coffee Shop Plus Local Walk
Skip the expensive dinner reservation and opt for coffee or tea at a cozy local spot, followed by a walk through a nearby park or interesting neighborhood. Total cost: $10-20, but the relaxed setting encourages genuine conversation.
- Happy Hour With A Twist
Many restaurants offer discounted appetizers and drinks during happy hour. Choose a place with a good atmosphere and split a few small plates. “You get the restaurant experience without the full dinner price tag,” notes Harrington.
- Local Event Or Festival
Check community calendars for free or low-cost events like outdoor concerts, art walks, or farmers markets. These provide natural conversation starters and show you’re plugged into your local scene.
- Mini Golf Or Bowling
These classic activities typically cost $15-25 per person and create a fun, interactive experience. “The slight competition element breaks the ice naturally,” Harrington observes.
The Biggest Financial Mistake First-Time Daters Make
The most common error? Overspending to impress. “I see people dropping $150+ on first dates, thinking it shows they’re serious or successful,” Harrington says. “But this creates unsustainable expectations and can actually backfire.”
This overspending trap often leads to second-date anxiety about maintaining the same expense level, or worse, going into debt for dating. Smart daters focus on creating connection rather than showcasing their spending power.
Fred Harrington, Personal Finance Expert at SaveMyCent, commented:
“Dating shouldn’t derail your financial goals, but it also shouldn’t feel like you’re being cheap. The key is finding that sweet spot where you can enjoy yourself without the post-date money stress. I’ve seen too many people rack up credit card debt trying to impress someone they barely know, which creates pressure that has nothing to do with actual compatibility.
“What really matters is showing thoughtfulness, not your bank account balance. Some of my most successful clients in relationships are those who learned early on that financial compatibility starts with honest spending habits. If someone judges you negatively for suggesting a reasonably priced first date, that’s valuable information about their priorities and whether they align with yours.
“Smart money management is attractive – it shows you’re thinking long-term, which is exactly what you want in a potential partner.”