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HerMoney Podcast Bonus Episode: Dating Apps, Love & Money

Kathryn Tuggle  |  February 14, 2022

Happy Valentine's Day! We just dropped a bonus love and money episode to talk all things dating apps. 

Happy Valentine’s Day, HerMoney family! This week, we wanted to put out a special love and money episode because we just couldn’t wait to tell our listeners  how much we love you! 

Over the past few months, we’ve heard from so many of you that our modern dating world — particularly during the pandemic —  just hasn’t been working for you. It’s honestly overwhelming when you look at all the options and apps we have for connecting with people, but we know that at the same time, many of us are feeling lonelier and more isolated than ever. In a recent survey by Cigna Healthcare, Nearly 50% of Americans reported sometimes or always feeling alone.  

And when we talk about dating over the last few years, it’s possible that many of us who were single and looking just haven’t been meeting people in person at all, due to COVID. But now that many of us are double, if not triple vaccinated, we’re starting to get back out there. We’re starting to see who is out there. Which is why we wanted to know: What does it look like to get back out there, now, in 2022? And how can we find someone without spending a fortune? 

We’ve come a long way since Match.com debuted in 1995, or since eHarmony came onto the scene in 2000 — and honestly, it even feels like we’re worlds away from 2013 when Tinder invented the addictive “swipe” feature that so many of us have come to know on various dating platforms. Today, we’re spending an average of 90 minutes a day online dating, according to a study by dating app Badoo, and 30% of adults have used a dating website or app, according to the Pew Research Center. For people under 30, that number increases to 50%. 

So, yes, we’re spending a lot of time on dating, but we’re also spending a lot of money.  In 2020 alone, 44.2 million Americans used online dating services and spent $602 million total… And while many dating apps have a free version, the cost for premium options — which may include unlimited swipes, read receipts, or access to additional matches — really add up. For example, Bumble Premium is $22.99 per month, and Tinder Gold and Hinge Preferred are both $29.99 per month. It’s easy to see how you could easily spend more on dating apps than you might on actual dates

But this week, we’re helping you cut through all the noise. We’re going to get a handle on where the dating world is really heading, and just how much we should be spending to find love. We’re doing it all with Bela Gandhi, founder and CEO of Smart Dating Academy, a date coaching service that helps you put your best foot forward to help you find your perfect match. Since founding her company in 2009, Bela has helped thousands of women find love,  and even has a dedicated “online dating love lab.” 

Listen in as Bela tells us what she’s been seeing these past few years — what kind of shift in dating habits did she see during the pandemic, and where are we now? (In other words, how dating has evolved, and where is it headed, post covid?) We also address whether online dating is simply more difficult than “old-fashioned” dating used to be, and take a look at the challenges that women face in dating apps that we just didn’t have when meeting people in-person. 

We dive into the cost of dating apps. We’re spending more time and money on dating apps than ever… But what are we really getting out of it? Are they worth it? We discuss how we can be smart about the dating apps we pay for, without going over budget, what’s worth paying for vs. what’s not, and whether the free versions are just as good. 

We also take a look at how you meet people today in a way that you can feel safe, and how we can “vet” our matches as much as possible before we schedule a meeting. And of course we talk about how more women today just aren’t choosing marriage at all (good for you, girl!) and what the rules are if you’re just seeking companionship on occasion rather than commitment. 

To everyone in our HerMoney family, WE <3 YOU!

This podcast is proudly supported by Edelman Financial Engines. Let our modern wealth management advice raise your financial potential. Get the full story at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines – Modern wealth planning. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM1969416

Editor’s note: We maintain a strict editorial policy and a judgment-free zone for our community, and we also strive to remain transparent in everything we do. Posts may contain references and links to products from our partners. Learn more about how we make money.

The HerMoney podcast is supported by      Edelman
All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM1969416


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