It’s been awhile since I’ve dated. I met my wife-to-be while I was a senior in college, and we were married three years after I graduated. And even while I was dating in college, the rules and expectations were much different than they are post-graduation. While in college, everyone was presumed to be a “poor college student” and as such, you had to find creative ways to go on dates on the cheap. My post graduate single friends, however, have come to realize that such presumptions are not present once you’ve graduated and have a job. And they’re finding out that dating can be quite expensive.

I recently had a conversation with a friend who had been dating a girl for a reasonable period of time, and he found himself stressing out over the amount of money he was spending every week on their dates. It wasn’t uncommon for him to drop a couple hundred dollars in a week with her, on everything from trips to the bar, dinner out, activities, etc… Small expenses added up quickly, and he became worried that some of his long term savings goals would be compromised by his spending of all that money every week.

Another friend of mine used to tell me about the unspoken pressure he felt to wine and dine his girlfriend. He took her out to expensive dinners and expensive nights out, as well as even a vacation or two. While neither of my friends had/have what anyone would consider a high-maintenance girlfriend, and they were never coerced into doing those things, they both created a pressure within themselves to go out and spend that money to entertain their girlfriend. Not doing so, in their minds, was equivalent to being a stick in the mud, or a penny-pincher; a reputation neither of them wanted to risk acquiring.

In that sense, it’s easier when you’re married. My wife and I share our finances, so we both always know how we’re doing and what we can afford. Our long-term financial goals are also aligned, making it easier for us to eschew a trip or an expensive dinner if it’s unreasonable to do so and pursue our financial goals at the same time. That a much more complication decision to come to when you’re just dating, however. Most couples don’t share financial information or long-term goals, creating a barrier that’s difficult to overcome when making those types of choices. That in turn creates the stress that my first friend was referring to.

In the end, I’m afraid I wasn’t much help when giving advice. I just told my friend to communicate his concerns to his girlfriend. He doesn’t have to provide any details if he isn’t comfortable doing so, but his girlfriend is a very smart, very understanding person and I’m sure they can work something out. Dating on a budget will probably feel a bit restrictive, but it will eliminate his anxiety, and perhaps some creative dating will spice up their relationship.

Readers, what are your feelings on this topic? Have you found yourself in this situation, and how did you resolve it?

Michael
Twitter: @michael_dink

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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