Cost of living pressures lead to earlier financial conversations

With the cost-of-living crisis not showing any signs of slowing down, the way young people are dating is changing. Financial positions have quickly become a marker of compatibility, couples are moving in together faster, and creative, low-cost date ideas are keeping the spark alive.

While living with friends, or like-minded people found on Facebook, continues to be a popular choice for many, more young couples are choosing to move in together earlier, either alone or as part of a broader share house, to save.

Canberra-based couple Phoebe and Reece have been living together since 2021. Originally from Melbourne, they met in high school and moved into a two-bedroom apartment with a friend upon moving to Canberra for university.

They found this was the “best and cheapest option” compared with living in on-campus accommodation.

The duo evenly split costs of living in their shared apartment, including bills and some groceries. If they go out on a date, one will usually pay the bill “knowing that it will come back around” as the other will shout the next one.

Despite having been together for more than six years, Phoebe and Reece have had to cut back in ways they haven’t had to in the past. While the pair still consider going on dates to be important, it’s not always realistic in this economy.

Approximately 5.6 million Australians considered cost of living to be the main challenge in their relationships.

“We have had to get creative at times with our date ideas; we have done small clay-making dates, painting, Minecraft nights. One of our favourites is Lego dates … we take turns, page by page, to build the model,” said Phoebe.

A survey conducted in Australia last year by dating app Bumble found the couple aren’t alone. Many would opt for dates that are low-cost or no cost at all, such as going for a walk. For other couples, shared living and other cost-cutting measures are beginning to take a toll on their relationships.