With all the money we spend on rent and student loans, most of us can’t afford extravagant dates. Fortunately, we don’t need to. As resourceful, creative twenty-somethings, we can come up with cheap date ideas that are just as enjoyable as a three-star dinner.
According to Match.com, singles spend an average of $61.53 on dating each month. If you live in a pricey city, it’s easy to spend even more.
Why cheap date night ideas are a smart money move
By saving with fun cheap date ideas, you can pay off debt faster and put money away for retirement. Saving for retirement is especially important in your 20s, as your money will grow exponentially over time.
Let’s say you put $100 a month away starting at the age of 25. At a growth rate of 5.7 percent year, you’ll have a savings of $16,124 when you’re 35. At 45, your savings will have ballooned to $44,597. Most people will have even more because they’ve been able to increase their monthly contribution over time.
Or, let’s take student loans. If you have $20,000 in student loans, you could pay it off in monthly installments of $219 for 10 years. In total, you’ll end up paying $6,285 in interest.
If you were able to increase your monthly payments to $384, then you could pay the loans in five years and only pay $3,032 in interest. By paying $165 more a month, you can cut the amount you pay in interest in half. Plus, you’ll be free of student loan payments five years early!
By paying attention to your dating budget, you can put your money toward other areas that will have a long-lasting effect on your quality of life. Match.com estimates that people pay $738.36 per year on dating. After five years, that adds up to over $3,600.
The next time you want to go out, try out of one of the 14 cheap date ideas. You can still make a connection while managing your money responsibly.
Fun cheap date ideas to try this year
1. Rent bicycles and explore your surroundings
Take out your bicycles or rent a couple from your city’s bike-sharing program. You can explore your neighborhood or find a pretty bike path. If you pack snacks, you can stop for a picnic along the trip.
2. Host a laid-back game night
Instead of going out for dinner and a movie, bring your date and a few friends together for a game night. Whether the game is Cards Against Humanity, Resistance, Punderdome, or good old-fashioned Clue, you can all have fun without racking up a big bill.
3. Throw on your athleisure and exercise together
Are you into running? Lifting weights? Yoga? Plan a day of exercising with your date. You could jog outside or take a free yoga class. Lots of gyms give out free day passes to potential new clients.
4. Play tourist for the day
You probably see the sights when you travel, but have you ever toured your own city? Pretend to be tourists for the day and visit noteworthy spots in your area. You might be surprised what you learn about your surroundings when you look with fresh eyes.
5. Ask each other the “36 questions that lead to love”
According to Dr. Arthur Aron, couples can ask each other 36 questions to form intimacy and pave the way to love. You’ll develop a strong relationship through “sustained, escalating, reciprocal, personal self-disclosure.” You can find all 36 questions here. This isn’t the best of cheap date ideas for a first date, though. Most people will probably be scared off by intense personal questioning.
6. Head to the woods and go hiking
Throw on your hiking boots and plan a day of hiking with your date. You can get to know each other while conquering a physical challenge. If you’re both outdoorsy, then you may enjoy this activity more than sitting through a movie.
7. Go on a grown-up treasure hunt with the Geocaching app
Geocaching is a free app that takes you on a treasure hunt around your city. You use GPS to find hidden containers. When you find them, you can sign the log book and exchange trinkets. There are over two million geocaches in 185 countries around the world. Just download the app to see if there any geocaches near you. Then you and your date can start the hunt!
8. Make your own photo or Snapchat story
Get creative with your date by curating a photo or Snapchat story of your day. You can be as artsy or silly as you want, and you’ll end up with a fun collection of mementos from your wanderings. Well, the Snapchats won’t last long, but you get the idea.
9. Netflix and chill (no subtext intended)
Euphemisms aside, you and your date can binge on that Netflix show you’ve been meaning to watch. Maybe you can even get your hands on a projector to set up a home movie theater experience. Don’t forget the popcorn.
10. Browse a flea, food, or farmer’s market
Track down a bustling marketplace, and spend the day combing through antiques or sampling food. You’re bound to find some unique items and conversation starters.
11. Gather ingredients for a picnic
Instead of going out to dinner with your date, plan a picnic. Grab some groceries and a picnic blanket, pick a pretty spot to snack and get to know each other.
12. Look for free hours at a local museum
Lots of art museums offer free entrance during a certain window every week. Look around to see if any local museums offer free entrance. You can also look around for any free tours, fairs, festivals, or brewery tours going on in your city.
13. Rent a kayak, canoe, or paddleboat
Do you live near a river or lake? Boat rentals tend to be cheap, and you can keep them for the whole day. Getting on the water gets you out of the ordinary without much expense.
14. Use Groupon for dinner or a show
Groupon has a discount for everything, from restaurants to pottery painting. It even offers a date night package.
Cheap date night ideas are a smart money move
These cheap date ideas aren’t just fun, they can also transform your budget. One major rule of personal finance is to spend less than you earn. On your next date, try these ideas so you can funnel your money in other directions. You’ll take control of your spending while having unforgettable experiences with your date.
Interested in refinancing student loans?Here are the top 6 lenders of 2019!
|Lender||Variable APR||Eligible Degrees|
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1 Important Disclosures for SoFi.
2 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.50% APR (with Auto Pay) to 7.27% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 17, 2019, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/17/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
3 Important Disclosures for Laurel Road.
Laurel Road Disclosures
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the fixed rate will decrease by 0.25%, and will increase back up to the regular fixed interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.49% effective March 10, 2019.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.50% – 7.27%1||Undergrad & Graduate|
|2.50% – 7.12%3||Undergrad & Graduate|
|2.81% – 8.79%4||Undergrad & Graduate|
|2.50% – 6.65%2||Undergrad & Graduate|
|2.55% – 7.12%5||Undergrad & Graduate|
|3.00% – 9.74%6||Undergrad & Graduate|