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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Apr 252015
 

I recently read a study suggesting that there is a correlation between the cost of engagement rings and the duration of marriages. Researchers looked at 3,000 U.S. adults who had been married at some point in their lives, and found that subjects were more likely to end up divorced if they had spent large sums of money on engagement rings and weddings.

For example, male participants who spent $2,000 To $4,000 on engagement rings were 30% more likely to end up divorced than guys who only spent between $500 to $2,000.

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Similarly, people who spent $20,000 or more on their weddings were 3.5 times more likely to end up divorced than people who spent $5,000 to $10,000.

The authors of the study believe the correlation between high wedding and engagement ring costs and high divorce rates is probably due to the financial stress placed on couples who are overly determined to have the “perfect day,” regardless of their actually ability to afford it. 😕

The diamond and wedding industry has done an excellent job promoting their businesses over time. Before the second world war, only 10% of engagement rings contained a diamond. But by the year 2000, about 80% of rings did. In 2012 alone, Americans collectively spent roughly $7 billion on diamond rings. 😯

Here’s my analysis on all this. People who want expensive rings and fancy weddings are generally more materialistically demanding in the first place. Later on in the marriage they’re more likely to live in expensive neighbourhoods, drive fancier cars than their friends, and shop at high end stores. These kinds of behaviours usually lead to debt and other money problems, and we all know how financial stress is often the primary contributor for divorce.

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Apr 072015
 

I recently read an article called “Perfection Anxiety” from an old copy of Vanity Fair magazine. In it 25 year old Petra Ecclestone, the daughter of Formula One mogul Bernie, and her recently married husband, bought an $85,000,000 mansion in Los Angeles. Wow, and I thought Vancouver real estate was expensive. 😛 Before moving in to their new home they also spent $19,000,000 on their wedding. 😯 To put that into context the average wedding in the United States only costs about $25,000. But of course most weddings don’t serve bottles of $6,000 Chateau Petrus, nor does the bride wear a $130,000 Vera Wang dress.

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If that wasn’t enough excitement for the couple they later bought a 17th century self-portrait by Van Dyck for $20,000,000. 😕

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Feb 142014
 

Happy Valentine’s day everyone :). If you’re single like me here’s a frugal idea to get yourself a hot date 😉

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I don’t know if you can put a price on love 😉 But according to a recent study by ratesupermarket.ca, the cost of dating someone and then getting married costs on average $44,000 😕

Here’s the breakdown:

One Year of Dating – $7000
Engagement Ring – $3500
Engagement Party – $2000
Another Year of Dates During Engagement Period – $4500
Wedding – $27,000

Total cost of love = $44,000 😀 Wow. Much love. So romance. Very Valentine’s. Wow 😐

The study is a bit tongue and cheek, but it highlights the importance of money and budget awareness in a relationship 🙂 How much love will actually cost depends on each couple. $27K for a wedding is still relatively cheap since the average wedding in Canada was over $32K in 2013 😕

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Jul 132012
 

Once In awhile we have to step outside of our comfort zone and try to learn something new. After all it’s the experiences we go through and how we interpret them that gives us our individuality and unique appeal. After my friend told me she recently had a baby girl it made me think about what I’ve been doing for the last year.  Reflecting on my current situation it really hasn’t changed much from this time in 2011. The stock market and my investments haven’t increased all that much. I still prepare meals for one. And still haven’t made a penny from my blog yet, haha. At least am on track to meet my financial goals for the end of this year, but maybe it wouldn’t hurt to mix things up a bit.

So starting next week I’ve decided to do the following.

  • Research alternative investments. In particular, farm land investing. That’s right, maybe I’ll have my own farm one day! I think agricultural land is a great low-risk asset which provides the benefit of a bond (yield) as well as inflation protection.
  • Go on a date. I have some of those 2-meal deal coupons for A&W. It would wasteful if I just let them expire   (o.O)
  • Make some online income, at least enough to cover the cost of running this site (^_^)

Image source: farmlandinvestmentpartnership.com/

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Random Useless Fact: Before 1975 the US dollar sign ($) represented foreign currency. Also the “$” symbol has never appeared on any U.S. currency. Not even the 1 dollar bill. (source)