A new TD survey reveals nearly three in 10 Canadians (30%) are now going on fewer dates because they’re expensive, while 29% are switching to more low-or no-cost date options instead. Gen Z is most likely to opt for frugal dates at 36%.
The current economic climate is also influencing pillow talk, with 1 in 4 Canadians (25%) polled now prioritizing financial transparency earlier in their relationships and another 22% focusing on partnering with someone who shares their perspective on finances, said the report.
Other impacts on love lives include:
- Prioritizing finding a partner who’s good with their money (18%)
- Prioritizing finding a partner with a secure financial standing (16%)
- Arguing more with my partner about money (11%)
- Putting off considering having kids (9%)
“As Canadians navigate an evolving economic landscape, we’re seeing a meaningful shift in priorities,” says Jeet Dhillon, Senior Portfolio Manager at TD Wealth.
“Adapting to these realities within relationships means reassessing what truly matters – whether that’s how we spend, save or connect with one another.”
While more than half of Gen Z Canadians (54%) surveyed ranked lying about money as their top financial relationship dealbreaker, four in 10 (40%) admitted to keeping a financial secret from their partner – 13% higher than the national average. Gen Z also leads the way in maintaining separate bank accounts in relationships, significantly outpacing the rest of Canadians (54% vs. 32%), said the TD report.
“As economic uncertainty continues to reshape daily life, nearly one in four Gen Z Canadians are now placing greater emphasis on seeking partners with sound financial habits (24% compared to 18% of other generations). For the second straight year, the majority of Gen Z (51%) would want their partner to sign a prenup if they get married or enter a common-law relationship, soaring above the national average (28%),” it said.
“Canadians are making financial transparency a dating essential. More than half (52%) of respondents say it’s a big factor when choosing a partner, along with spending habits (51%), having similar financial goals (51%) and debt levels (41%).”
Openness is also crucial when it comes to top financial relationship dealbreakers among Canadians, said TD:
- Lying about finances (53%)
- Bad spending habits (43%)
- Never offering to pay for anything (41%)
- Making risky investment decisions (28%)
- Refusing to save for mutual goals (25%)
“Despite a demonstrated desire for financial clarity, two in five Canadians (39%) say they only had the ‘money talk’ with their partner after moving in together or reaching even later milestones, such as getting married or entering a common-law arrangement. Another 15% haven’t had the conversation at all,” according to the report.
“Perhaps it’s no surprise that a whopping 35% of Canadians admitted they don’t have a shared budget with their partner and, among those who do, three in 10 (29%) struggle to stick to it.”
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