Spending On Dates Could Cause Financial Burdens

by : Tom Dawson

Taking a lady out on a date could have significant financial implications for many men, it has been claimed.

Research released by NS&I as part of its quarterly savings survey shows that single males are set to spend more than 12 billion pounds each year on romantic rendezvous, in comparison women were indicated as splashing out around 4.5 billion pounds. The average man expects that the typical date will set them back by about 52 pounds, with the opposite sex looking to fritter away just over 32 pounds.

However, research from the financial services firm revealed that a trip to the movies or a fancy meal could place significant numbers of consumers under monetary strain. Three-quarters of British males claim that they have spent more cash than they anticipated while on a night out, with some 12 per cent being left short of funds at the end of a date. Meanwhile, one in four respondents state that they are prepared to use a credit card to supplement romantic spending, despite being aware that they will struggle to keep up with repayment on this type of borrowing. An estimated 16 per cent stated that they are ready to borrow money from family members and friends to finance going out on a date.

Due to overspending while on dates, it may be possible that men develop difficulties in meeting other demands on their spending. Such areas could include loan repayments, mortgage or rent costs, utility and grocery bills and credit cards.

Further research showed that just under half (45 per cent) of men believe that being seeing as financially well-off and generous in the eyes of a prospective partner is important. Meanwhile, some 17 per cent of women expect the man to pay for the bill when on an evening out, although just 29 per cent think that being wealthy helps to make a good impression among men.

Commenting on the figures, Dax Harkins, senior savings strategist for NS&I, said: "There is no doubt that dating costs a lot and many people in Britain need to think beyond impressing with wit and charm and also plan their finances. Given the expense, especially for men, it is great to see that some are setting money aside specifically for this reason. However it is clear that men need to keep at least a few of their thoughts on money when they're trying to impress on a date, so they don't end up overspending or being caught short of cash."

Whether planning a weekend break at a five-star hotel in London or a mid-week trip to the cinema, those wishing to treat a loved one in style may wish to consider getting a cheap loan. Not only could a loan help borrowers to splash out on their partner in style but also assist with other sources of financial demand. A cheap loan may additionally be of help to those wishing to go on a dream honeymoon. A recent study carried out by esure indicates that the average post-wedding vacation costs 1,614 pounds, with beach holidays shown to be increasingly popular.