The price of love: Why millennials and Gen Zs are running up major dating debt

By Omar H. Fares, Lecturer in the Ted Rogers School of Retail Management, Toronto Metropolitan University
Seung Hwan (Mark) Lee, Professor and Associate Dean of Engagement & Inclusion, Ted Rogers School of Management, Toronto Metropolitan University

The average American invests US$120,000 throughout their lifetime in pursuit of love, spending significant money on romantic dinners, movie outings and thoughtful gifts, not to mention personal grooming and cosmetic products.

As a result, according to a survey by LendingTree, 22 per cent of millennials and 19 per cent of Gen Z have begun to incur “dating debt.”

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