How the cost of living is affecting dating in 2026

A recent TD Bank survey shows nearly one in three Canadians are dating less because it's too expensive. (Ekam Juneja/Pexels)

The high cost of living is having an effect on Canadians’ dating lives, according to a new survey, but it’s also leading to more openness, especially among younger generations.

According to TD Bank, nearly a third of Canadians (30 per cent) are going on fewer dates because it’s too expensive, and a quarter of Canadians (25 per cent) are prioritizing financial transparency earlier in their relationships.

TD Bank Personal Finance Expert Jayme Martin told CTV Your Morning Ottawa on Monday that the survey found that Gen Z Canadians are more likely to opt for frugal dates.

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“What we are seeing is Canadians are being more mindful around how and when they spend. A big piece of the survey also indicates Gen Z is really showing us the way in terms of transparency and having conversations around what the holiday is going to look like,” Martin said.

According to the survey, 36 per cent of Gen Z is opting for dates that cost little or no money, which is above the national average of 29 per cent.

More than half of Gen Z Canadians (54 per cent) say lying about finances is a dealbreaker in relationships, but 40 per cent of respondents from that cohort also admitted to keeping financial secrets from their partners. Gen Z Canadians also keep separate bank accounts more often than other generations (54 per cent vs. 32 per cent).

Martin says economic uncertainty is leading to more conversations about money, particularly among young Canadians.

“They’re really rewriting the rulebook when it comes to dating and money. There’s a lot of financial transparency when it comes to this particular group,” she said. “We know, in the past, that other generations, it was probably something that was kept a little bit more close to the heart, wasn’t something that we were sharing up front. But what we are seeing with this generation is money and being upfront is really a sign of respect and many of them are looking at before they embark on a long-term relationship. They want to make sure that their financial values are really aligned. It starts with some smart financial planning and open communication and they’re really helping us to see why this matters and how it helps long-term.”

Nearly one in four Gen Z Canadians (24 per cent) are placing a greater emphasis on seeking partners with sound financial habits, the survey found. More than half (51 per cent) would want their partners to sign a prenup if they get married or enter into a common law relationship. The national average is 28 per cent.

“Gen Z is really breaking the mold and they’re clarifying the expectations early on and making sure that with their partner that they’re super clear on financial security and how important it is to them, so laying a really good foundation by having the conversation early and in many cases this is a real dictator of whether or not a relationship is going to make it long-term to make sure, again, that we’ve got the same financial goals and values,” Martin said.

Despite this, the TD survey shows 39 per cent of Canadians have only had the “money talk” with their partners after moving in together or getting married. Fifteen per cent said they have not had the conversation at all.

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When it comes to Valentine’s Day, Martin says making sure you and your partner are in sync about how much to spend is important.

“At the end of the day, we know it isn’t about how much you spend, it’s about the connection you’re sharing. Really strong relationships are built on transparency, and you don’t have to break the bank to make this valentine’s day truly special,” she said.

The TD survey, conducted using the Leger Opinion panel, ran from Jan. 9 to 13, 2026, with a nationally representative sample of 1,502 Canadian adults. The results have been weighted by age, gender, and region (and in Quebec, language) to match the population, according to Census data. For comparison purposes, a probability sample of 1,500 has an estimated margin of error (which measures sampling variability) of ±2.5%, 19 times out of 20.