Jun 012017
 

Dating can be expensive. All those dinners and movies can add up over time. According to a Match.com survey of 5,500 singles in the U.S., the average unmarried American spent about $1,600 on their dating life in 2016. That’s about $133 per month. When broken down by gender, men spent $150 per month on average, while women spent $120 per month.

I recently dated a girl who expected me to spend $400 a month on her. That’s a bit much for me, and is part of the reason we are no longer seeing each other. I didn’t know if an appropriate dating budget exists, so I decided to create a poll on Twitter. Here is what I found out. 🙂

It appears 8 out of 16 people think $100 is a good monthly amount to spend on dating. 4 out of 16 thought $250 is appropriate, and the remaining 4 voters thought $400 is the right amount. Overall my poll seems to more or less reflect the results of the Match survey.

But instead of using dollar a figure, maybe a better way to determine a dating budget is to use a person’s income. For example, 5% of take home income should go towards dating. So if someone makes $3,000 a month, his dating budget would be $150/month. Or maybe each relationship is different. If we really connect with someone special then perhaps we are more willing to shower them with money, time, attention, and other resources because they are worth it.

There are no universal rules when it comes to money and dating. But it’s probably a good idea to keep your standards reasonable. According to a Chase Blueprint Valentine’s Day survey, men on average expect $230 worth of Valentine’s day presents. But women are less greedy, only expecting to receive $196 worth of gifts. However, everyone is bound to be disappointed, because on average women only plan to spend $71 and men $98 on their Valentine’s day date, lol. 🙂

If you’re single, how much do you spend on dating? What about if you’re in a relationship; how much do you spend on dates per month with your significant other?

 

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Random Useless Fact:

The division symbol (÷) is just a blank fraction. You replace the dots with the actual numbers.

Jul 252016
 

Apparently people who use online dating websites are richer, taller, thinner, and better looking than the average person. At least, that’s what they write about themselves. 😛 Hey, who would’ve guessed? But how honest are people really when it comes to sharing their personal information on dating sites?

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Some women approaching 30 seek a man-date to get married. But they have to be careful about who they choose. Maybe dating a tennis player would be a ball, but it could also turn out to just be a racquet. Besides, tennis players aren’t even romantic because Love means nothing to them. 😀 Since we live in a digital world, online dating can be a legitimate way for people to meet each other. So let’s see what the landscape looks like.

The Economics of Online Dating

A study focusing on over 20,000 active users of dating sites in the United States is outlined in the book Freakonomics. About 4 out of 100 users (4%) reported they earned over $200,000 a year. But only about 1% of the U.S. general population is making that much so either government statistics are wrong or 3 out of the 4 users were inflating their earnings.

Both men and women tend to report as being an inch taller than the national average for their genders. But in terms of weight, men were in line with the national average while women apparently weighed 20 pounds less than the national average.

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Online dating users are typically really good looking. About 70% called themselves “above average.” 30% chose “average.” Roughly 1% said their looks were “less than average.” How humble. So either most people with online dating profiles are genuinely more attractive than average or they have an overinflated view of their appearances. Of course make up and Instagram filters can alter the way we look.

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28% of women said they are blond, which is a number much higher than the national average, which indicates either dyeing or lying. A man who does not include a photo gets 40% less attention than a man who does. Meanwhile, a woman who doesn’t include her photo gets 76% less attention. Even a low income, poorly educated, unhappily employed, not very attractive, slightly overweight, and balding man but who includes a photo with his profile stands a better chance of receiving messages from women than a man who says he makes $200,000 a year and is deadly handsome but does not have a photo. I guess people just want to see the goods. Just like posting an ad to sell a car, if there’s no picture then potential buyers will think there might be something wrong with the car.

How To Get Results with Online Dating

This is why economics is so cool. We can take all the data collected and come up with a winning formula to give us the best odds to achieve our goals. Below are step by step things you can do to increase your chances of getting a date. 🙂

For men, looking for a woman. 

  1. Be white
  2. Be tall
  3. Be rich
  4. Be ready to commit
  5. Be a doctor, lawyer, or go join the military

That’s all there is to it guys! 😀 You can exaggerate your height and income to appear tall and rich, and use whitening cream or makeup to look white if you aren’t already, lol. Asian, black and Latino men receive fewer messages in general than white men. White women in particular reply to white men twice as much as they reply to black and Latino men. Asian men receive fewer than 25% as many messages from white women as white men with the same levels of income and education. Men who say they want a long term relationship do much better than men looking for an occasional lover.

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Oct 192015
 

The Match Company Gets Ready To Go Public!

Do you know what popular dating sites Match.com, OkCupid, Tinder, and Plenty of Fish have in common? Well, they are all part of the Match Group of internet dating services which is owned by a single parent company, IAC/InterActiveCorp. This American media and internet business has over 150 brands across 100 countries. 🙂 Recently The Match Group has found some deep-pocketed suitors on Wall St., such as JPMorgan, and Bank of America Merrill Lynch to help it go public.

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Once the IPO goes through, Match will be listed on the NASDAQ exchange under the $MTCH stock symbol. It hopes to raise at least $100 million with its initial public offering. Aside from the 4 dating services already mentioned, it also owns about 40 other brands in the online dating space. 🙂 The Match Group products are particularly popular in North American and European markets, and reach more than 190 countries world wide.

Should You Invest in Online Dating?

I’m not usually one to be interested in IPOs. But this one caught my attention because of how fast the online dating space has grown over time. The National Academy of Sciences researched thousands of people who got married between 2005 and 2012 and discovered that more than 33% of those marriages began with online dating. And those people may be slightly happier than couples who meet through other means. Match services have been quite popular with millennials. I’ve used a couple of these sites myself in the past. I talked to this one girl online, but we just didn’t click.

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