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7 Ways Being Single is Better for Your Bank Account

Paul Michael — Tue, 06 Feb 2018 09:30:08 +0000

Valentine's Day is once again fast approaching. People in relationships are saving up to treat their partner to something special. And for those seeking romance, it's a great opportunity to drop a few hints with a card and candy. But for the millions of people who are single, this time of year can really suck.

If you fall into the latter category, take heart. You may not be part of a couple, but your bank account will adore you. Here's why.

1. Valentine's Day is a money suck

Romance is big business in America, and retailers will do everything they can to get you opening your wallet. In 2017, USA Today found that Americans spent over $18 billion on the day for lovers.

Think about all the good that money could have done; schools, hospitals, care for sick people. Instead, it was spent on overpriced roses, chocolates, teddy bears, jewelry, fancy meals, and lingerie. This equates to the average consumer spending around $137 on February 14, although clearly some people are spending way more.

If you're single and like the idea of chocolates and flowers, wait until the day after. They'll be reduced by 50 to 75 percent (or more in some cases) for the exact same products. (See also: 14 Ways to Spend Less Money on Valentine's Day)

2. Your food budget goes a lot further

When you're shopping for two, you spend a lot more than when you're on your own. For a start, the chances of you both loving all the same foods is slim. Speaking from personal experience, I can meal prep the same food that I love for the whole week and eat it every night. It's cheap, it's balanced, and it suits me just fine. In a couple, that was a complete no-go. The same meal every night? No way. That means more ingredients, more recipes, and more money.

What's more, dining out as a single person is not as attractive a proposition as dining with a partner, so less is spent on restaurants and other eateries. And when you do eat out alone, you're spending at least half as much. Couples have a tendency to splurge on wine, desserts, and so on. When you're eating alone, you don't want to linger for as long, and that means less time to eat, drink, and spend. Those savings are delicious.

3. Weddings aren't cheap

If you're fretting about the couples around you that are planning to get married, this little statistic should ease the pain considerably: According to The Knot, the average cost of a wedding in the USA in 2016 was a staggering $35,329.

That is up $2,688 from 2015, which means you can expect that average to be even higher this year. After the cost of food and wine, renting a venue, a DJ or band, flowers, cake, invitations, photographs, and favors, the average price per guest rose to $245.

That's right, you're spending that much for each and every guest you invite. And let's not forget the cost of the wedding dress, the ring, and the expensive honeymoon after the big day. You can easily kick-start married life with over $40,000 in debt. Consider that next time you see a couple walk down the aisle.

4. You have time to focus on your career and your finances

Relationships eat up time. There's just no getting around that fact. Of course, people in happy relationships will point out that it's exactly the reason they're seeing someone; they want to spend time in the company of someone they love, and why wouldn't they? But this has to come with a sacrifice, and usually it's the career and the ability to make money that suffers.

The relationship will take a hit if one of you is working late night after night, or canceling plans at the weekend to pitch on new business. Guilt sets in, and instead of devoting time to a higher salary and new opportunities, it becomes the norm to spend free time eating out, going to movies, and taking weekend trips to the mountains or the beach. That means instead of using your free time to earn money, you're using it to spend money. (See also: 13 Ways to Make Money From Valentine's Day)

5. No more spending money on gifts

Aside from Valentine's Day, there are plenty of other dates on the calendar that make you spend money. Birthdays, anniversaries, and major holidays will hit you in the bank account throughout the year. Depending on what your partner is into, these gifts can set you back hundreds (or even thousands) of dollars. Forget the watches, clothes, gadgets, and gift cards, and instead save the money. Or, buy yourself something you've always wanted. (See also: 12 Fun Facts About Valentine's Day Spending)

6. Vacations are cheaper alone

Most couples like to do things the traditional (and expensive) way when they go on vacation. A hotel room, rental car, taxis, shows, restaurants, and bars are usually part of the mix. But when you're single, your options open up considerably, and the cost of your vacation can drop dramatically.

For a start, as a single traveler, a site like Couchsurfing can be a huge money-saver, and it's also a great way to meet other people and make new friends. You could also use Airbnb to find a bedroom in a local house that is way cheaper than a hotel room. You don't have to compromise on anything. Eat the food you want. Go where you want. Spend as little as you want. Single travelers have much more freedom, and way more options available. When you have more options, you have more opportunities to save money.

7. Two people means double the debt

The average person with credit card debt owes $5,331 on their cards, according to CreditDonkey. When you become part of a serious relationship, and get married, you combine the debts you owe. That means you are now responsible for twice what you were before.

Admittedly, you probably have two salaries (although not every couple has two incomes), but it can become daunting to look at the combined debts you have to pay off. As a single person, your debts are your own. And you can choose to live very frugally to pay off your debts, which can be a lot more difficult to do when your partner doesn't want to eat ramen and eggs four times a week.

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This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

15+ Important Financial Dates to Mark on Your Calendar

Damian Davila — Mon, 29 Jan 2018 10:00:06 +0000

Improving your finances is not a sprint, it's a marathon. To help you succeed in 2018, here is an at-a-glance finance calendar with key dates to effectively plan your money moves this year. You got this!

January 1

This is the very first day to fund traditional and Roth IRAs and Simplified Employee Pension Plan (SEP) IRAs for the current year.
If you don't enroll in Medicare during the initial enrollment period around your 65th birthday, you can sign up starting today through March 31 to start coverage on July 1. A late enrollment fee may apply.

January 16

This is the due date for quarterly estimated taxes for the fourth quarter of 2017 (Sept. 1–Dec. 31). Use the 2017 IRS Form 1040 ES to pay your estimated tax.

January 29

The IRS starts accepting tax returns. (See also: 8 Reasons You Should File Your Taxes as Soon as Possible)

March 31

Many flexible spending account (FSA) plans with a use-it-or-lose-it rollover rule set today as the deadline to submit claims for eligible medical expenses completed by December 31 of the previous year.
Last day to enroll in Medicare to start coverage on July 1. A late enrollment fee may apply.

April 1

Following the calendar year in which you turn 70½, this is the date you must start taking required minimum distributions (RMDs) from your traditional IRA, 401(k), 403(b), or other applicable retirement savings plans. (See also: What Every Retirement Saver Should Know About Required Minimum Distributions)

April 15

Deadline to contribute to a Coverdell Education Savings Account (ESA).

April 17

Tax Day 2018 falls two days later than usual because April 15 falls on a Sunday, and Emancipation Day falls on April 16, giving IRS workers a holiday.
Deadline to file for an extension on you tax return. (Note: There is an automatic two-month extension for taxpayers living abroad).
Last day to fund last year's traditional or Roth IRAs.
Deadline to fund a health savings account (HSA) for the prior year. (See also: How an HSA Could Help Your Retirement)

April 18

Deadline to submit an estimated tax payment for next year's taxes using first payment voucher from 2018's Form 1040-ES.

June 15

Make an estimated tax payment for tax year 2018 using second payment voucher from Form 1040-ES.
Two-month filing extension deadline for federal taxes. (See also: Filed an Extension? Here's What You Need to Know)

June 30

To receive federal student aid for the 2017–2018 school year, submit your FAFSA application by June 30, 2018.

September 15

Make an estimated tax payment for tax year 2018 using third payment voucher from Form 1040-ES.

Sometime between October 1 and November 1

Your employer will start announcing the upcoming open enrollment period to choose your workplace benefits for the next year.

October 1

To receive federal student aid for the 2019–2020 school year, you can start filing your FAFSA application today, making sure it's submitted by June 30, 2019.

October 15

Six-month filing extension deadline for federal taxes.
Last day to undo a 2017 Roth IRA conversion (if you converted a traditional IRA to a Roth IRA during 2017 and paid applicable tax on the conversion with your 2016 return).

November 1

Start of enrollment for health insurance through Healthcare.gov.

December 31

Deadline to take RMDs from your IRA, 401(k), and inherited IRAs.
Deadline to set up most types of retirement accounts so that eligible contributions count toward the current year.

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This article is from Damian Davila of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Why Tax Day Is April 15 and Other Weird Financial Deadlines

Emily Guy Birken — Wed, 29 Mar 2017 08:00:22 +0000

April is one of the finest months of the year. The sun breaks through the clouds, the cherry blossoms bloom, and the promise of warm weather beckons.

So of course, the IRS, in its infinite wisdom, decided to place Tax Day right smack dab in the middle of all of this riotous spring beauty.

Though I have always believed that the placement of Tax Day in mid-April is proof of the federal government's grim sense of humor, there is actually some method to their madness — both for this, and all other seemingly arbitrary financial dates and deadlines.

Here are the reasons behind some of the most head-scratching financial dates in the United States.

Why is Tax Day on April 15?

Paying federal income taxes is actually a relatively new phenomenon in American history. The first time an income tax was levied on Americans was in 1861 in order to help pay for the Civil War. In 1872, the law surrounding the tax was repealed after opponents successfully argued that federal income tax was unconstitutional.

Fast forward to February 3, 1913, when Congress adopted the 16th amendment to the constitution, which allows for federal income tax. Congress also determined the first due date for filing 1913 taxes would be March 1, 1914 — one year and a couple of weeks later. March 1 offered an easy-to-remember due date that gave citizens just over a full year to get used to being taxpayers, gather up their receipts into the early 20th century version of a shoe box, and file their first returns.

Then in 1918, the due date was moved to March 15, for reasons that no one in Congress saw fit to explain or write down.

Congress again moved the filing due date in 1955, this time to the now-familiar date of April 15. According to the IRS, the date change helped to spread out the tax season workload for IRS employees.

However, there may be a slightly more mercenary reason for the date change: According to Ed McCaffery, a University of Southern California law professor and tax guru, by the mid 1950s, the income tax was applying to increasing numbers of middle class workers, which meant the government had to issue more refunds. "Pushing the deadline back gives the government more time to hold on to the money," McCaffery claimed in Fortune magazine. And the longer the government holds onto taxes that have been withheld but are destined to be refunded, the more interest it earns on the money.

Okay, so why is Tax Day on April 18 this year?

If you look at an April calendar for 2017, you'll see that April 15 falls on a Saturday this year, which means we get a little extension, since Tax Day can't fall on a weekend. However, you might be confused as to why we get an extension to Tuesday, April 18, instead of Monday, April 17.

The reason for our extra day is a Washington, D.C. holiday known as Emancipation Day. Though only Washington, D.C. observes this holiday, a federal statute enacted decades ago states that holidays observed in our nation's capital have a nationwide impact.

Why was 65 chosen as full retirement age for Social Security?

When the Social Security Act was officially adopted in 1935, the age of 65 was chosen as the standard retirement age for beneficiaries. Why was that age chosen as the proper time for full retirement? Why not 63 or 67 or 70?

There are a couple of persistent myths out there about this choice, but they are nothing more than misconceptions:

Myth #1: People would die before collecting

The age of 65 was chosen so that people would not live long enough to collect benefits. According to life expectancy actuarial tables from 1930, the average life span was 58 for men and 62 for women, which would make it seem as if Social Security was designed to never make a payout to beneficiaries. However, this myth stems from an unfamiliarity with actuarial tables, which offer an average of all life spans, starting from birth. High infant mortality in the 1930s lowered the overall rate of life expectancy, but anyone who made it to adulthood had a much better chance of reaching age 65 and collecting benefits.

Myth #2: Bismarck was 65

The age of 65 was chosen because Otto von Bismarck — the author of the world's first old-age social insurance program upon which our Social Security program was partially based — was 65 when Germany adopted his program. This myth is false on several counts. Bismarck was actually 74 when the German system was adopted, and Germany initially set the retirement age at 70. Germany's retirement age was not lowered to 65 until 1916, at which point Bismarck had been dead for nearly two decades.

The truth behind 65

The actual reason why 65 was chosen as the initial full retirement age for Social Security is pretty boring. The Committee on Economic Security, which Franklin D. Roosevelt created to propose Social Security legislation, conducted a comprehensive analysis of actuarial studies, domestic private pension systems in America, and the social insurance experience in other countries. Based upon that research, the committee recommended 65 as the standard retirement age for Social Security.

Why is 59½ the minimum age to take distributions from tax-deferred retirement accounts?

When it comes to tax-deferred accounts like 401(k)s and traditional IRAs, you are not allowed to take distributions until you have reached the magical age of 59½. Otherwise, you will owe a 10 percent early withdrawal penalty on the amount you withdraw, in addition to the ordinary income tax you'll owe whenever you take a distribution.

So why is the IRS asking you to celebrate half-birthdays when you're nearly 60 years old? Congress used the age of 59½ as the earliest withdrawal age because life insurance actuarial tables consider you to be 60 years old once you have reached the age of 59 and six months — and at the time that the rules were put in place, 60 was a relatively common age for retirement.

Why must you begin taking required minimum distributions from tax-deferred retirement accounts at age 70½?

Of course, the IRS is not just about picking random minimum ages for when you can take distributions from tax-deferred retirement accounts — they also have a random age for when you must take distributions from those accounts.

Since the money in your tax-deferred account was placed there before you paid taxes on it, Uncle Sam does want you to eventually pull the money out again so he can get his cut of the money in the form of taxes. That means the IRS requires each account holder to begin withdrawing money during the year that they reach age 70½. This is called the required minimum distribution (RMD).

But unlike the 59½ rule, 70½ does not actually mean your half-birthday. The IRS makes a distinction between those individuals born in the first half of the year and those born in the second half. If your birthday falls between January 1 and June 30, you have to take your first RMD during the calendar year you turn 70. But if your birthday falls between July 1 and December 31, then you don't officially have to take your first RMD until the calendar year you turn 71.

Describing this year as being when you are 70½ is actually shorthand, since some folks will be taking their first RMD the year they turn 70, and some will be taking their first RMD the year they turn 71.

Why does Social Security think New Year's babies were born in the previous year?

Unless you happen to have a January 1 birthday, you might not know about this odd piece of Social Security dating. But according to the Social Security Administration, individuals born on the first of the year are considered to have birthdays in the previous year. So Social Security will group someone with a January 1, 1954 birthday with beneficiaries who were born in 1953.

This can actually make a big difference when it comes to some Social Security benefits, particularly when those benefits are eliminated. For instance, in 2015 Congress ended the restricted application strategy for any beneficiary born after 1953. The restricted application let applicants specify which Social Security benefits they did not want to apply for, even if they were eligible for all of them. So, for example, beneficiaries who reached full retirement age could claim a spousal benefit while continuing to let their own grow. Beneficiaries who were born on January 1, 1954 were grouped with those with 1953 births — which means anyone born on January 2, 1954 had rotten luck in terms of using the restricted application.

Why does Social Security extend a year 24 hours past the time the rest of us do? This odd birth year dating occurs because the Social Security Administration groups beneficiaries who have birthdays on the first of the month with beneficiaries born in the previous month. This grouping allows first-of-the-month babies to have a little more leeway when it comes to deadlines and other requirements. In order to be completely fair with the first-of-the-month grouping, January 1 babies are then considered to have been born in the previous year.

The government is not entirely lacking in sweet rhyme and pure reason

The financial dates that we all must adhere to may seem like ridiculous and arbitrary decisions, but there was some thought put into them. Those thoughts might only make sense to the people that made the decisions, but at least we know they weren't throwing darts at a calendar.

This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The High Cost of Modern Love

Andrea Cannon — Mon, 13 Feb 2017 10:00:16 +0000

Being in love is now more expensive than ever. In fact, Americans spend an average of $20,000 in their lifetime on dates. With dinner and a movie costing about $90, you could easily go broke if you date frequently.

We've covered some of the costs below so you can get a better idea of what modern love can cost. However, these are only national averages. The amount you pay for entertainment and impressing your date will vary largely depending on where you live.

Movie Ticket

Average Price: $8.51 per ticket

The worst part is that after spending money on movie tickets, you have to worry about buying popcorn, soda, candy, and other overpriced treats. For instance, if you decided to order one large popcorn, one large candy, and two small soft drinks, you could expect to spend around $22.25, in addition to the price of the movie tickets. Instead of doing dinner and a movie out, consider cooking at home and taking advantage of Netflix.

Dining Out

Average Price: $12.17–$88.00 per person

A 2015 study found that the cost of eating at a chain restaurant ranges from $12.17 to $88.00 per person, but it depends on where (and what) you eat. It also depends on where you live. For instance, Zagat found that diners in NYC spend an average of $48.44 per person when eating out, which is higher than the national average.

As an alternative, consider happy hour deals, taking advantage of restaurant week or local food festivals, or impressing your date with a home-cooked meal. You can either show off your cooking skills or cook together as a bonding experience.

Concert Tickets

Average Price: $46.69 per person

Concert tickets all depend on who you are going to see and which tickets you get (unobstructed or obstructed view). For instance, impressing your date with tickets to a Taylor Swift concert will set you back $110.15 a ticket.

Broadway Show

Average Price: $105.68 a ticket

Now, this is only appropriate if you are really trying to impress your date. With an average ticket price of $105.68, Broadway shows should be saved for very special occasions. The price will depend on what you go to see. For instance, a ticket to Hamilton could cost $300, while a ticket to Jitney could be around $55.

Baby Sitter

Average Price: $10 an hour

If you have a child at home, you can expect to spend a hefty amount on a baby sitter. The average cost of a baby sitter, per hour, in New York City is $15+, so the price will vary depending on where you live, who you hire, and the agreement you set with the sitter. As an alternative, consider asking another parent to baby-sit your child for a night at no charge, and tell them you will return the favor later by baby-sitting their child for free.

Gifts

Average Price: $92.50 per occasion

Once you find that special someone, you'll need to start worrying about the costs of gifts on special occasions. The average American spends only $25 per year on flowers, but can expect to spend an average of $146.84 on Valentine's Day gifts. Gifts for holidays, birthdays, anniversaries, and other special occasions can take a hefty chunk out of your budget.

According to Huffington Post, Americans spend an average of $92.50 per special occasion on their new love. They also found that people spend an additional $21 on gifts for each additional year of their relationship.

Dating Sites

Average Price: $0–$60 per month

Match.com is $41.99 per month, eHarmony.com is $60 per month, True.com is $50 per month, Tinder is free (unless you sign up for premium services, which range from $2.99–$34.99), and Bumble is free (again, unless you sign up for premium services, which range from $2.99–$35.99). You can save a lot of money by signing up for longer periods of time, like six or 12 months. Many dating sites, like Match.com, also offer free options with limited capabilities.

When it comes to dating sites and apps, there are distinct differences in the quality of the service and potential suitors, so cost shouldn't be your only factor. For instance, PlentyOfFish and OKCupid are free, but they don't offer the same matching abilities or photo quality as a service like Match or eHarmony. The people on PlentyOfFish also aren't usually as devoted to finding that special someone for life, as compared to someone on Match or eHarmony.

As an alternative, try meeting someone in real life. After all, only 5% of Americans in a marriage or committed relationship actually met their significant other online. Studies continue to show that couples most often meet each other through work, friends in common, or in social settings, so just put yourself out there more.

The Cost of "Ghosting"

Average Price: Your love life?

If you decide that the cost of dating sites is just too much, consider the cost to your love life if you disappear from the app completely. If you start "ghosting," it can end very badly. In fact, it often leads to even more confrontation than if you were just honest from the start. Take advantage of the sites and apps you subscribe to, while you still can.

On the other end of the spectrum, if you take your special someone on a horrible date, you risk getting "ghosted" yourself. Getting ignored can really take a toll on one's confidence and lead to hurt feelings, so observe the golden rule and avoid ghosting. Just remember, a good date doesn't have to be an expensive one. Take them somewhere meaningful, dress and act the part, and find ways to impress your date without going broke.

Alternative Date Ideas

Ask your date what they would like to do. Going to the movies and dinner can be fun, but most people have other ideas for a better date night. Here are some ideas to get you thinking.

Go for a hike or walk through your area. Show your date some of your favorite areas.
Get active with canoeing, miniature golfing, ice skating, rock climbing, paddle boating, paddle boarding, biking…the list goes on and on. Find out what your date is interested in and take advantage. It's cheaper, more meaningful, and can help you burn some calories.
Visit a museum during the day and time when it is cheapest. Most museums offer free admission on a particular day of the week. You can observe some local culture and will have plenty to talk about with your date.
Instead of going out for dinner, consider going out for coffee instead. After all, why spend something like $90 on a first date, when you're not even sure that they're worth dating long-term? With a coffee date, you can get to know each other in a more comfortable setting. A picnic is also ultraromantic, affordable, and memorable.
Go dancing at a bar or take dance classes, which start as low as $12 per person.
Go for a free wine or liquor tasting in your area.
Take advantage of outdoor movie events (like free movies in the park).
Take advantage of free local tours or free tour apps.
Find a Groupon date that you both want to take advantage of. Give your date some options so they'll be able to pick what interests them most.

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This article is from Andrea Cannon of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Ways to Save on a First Date Without Looking Cheap

Mikey Rox — Thu, 30 Oct 2014 15:00:06 +0000

A first date is your chance to get to know someone better — and if you're lucky, make a love connection. However, if you come off as a cheapskate, you may never get the chance. (See also: If You're Doing This on a First Date, You're Not Getting a Second)

Like so many others dealing with the aftermath of a recession, you may not have the resources to wine and dine your date. But this doesn't mean you can't show her (or him) a good time. Luckily, you don't have to break the bank to guarantee a second or third date. Here are eight ways to save on the first date without looking cheap.

1. Know Your Date's Interests

There's no law that says you have to spend a lot on a first date to make a good impression. If you're trying to keep the date within a specific budget — but you don't want to appear cheap — you need to find low-cost activities that match your date's interest. Maybe your date enjoys outdoor activities like hiking, or maybe she's an animal lover. After you know what makes her tick, research inexpensive options in your area. With this trick, even if you choose a super cheap activity, your date won't think you're being cheap. Instead, you'll score big points for being intuitive or observant, which practically guarantees a second date.

2. Pick Seasonal Activities

Choose seasonal activities that don't cost a lot and you'll save money without looking like a miser. Since these activities are once-a-year events, your date may enjoy the experience regardless of how little or how much it costs. Seasonal activities might include a hayride, a parade of holiday lights, strawberry picking, or fireworks in the park.

3. Wine and Dine at Your Place

Going to a nice restaurant and catching a movie isn't exactly cheap. You can easily spend $40 or $50 on dinner and another $30 at the movies. If you cannot afford a $100 night, offer to wine and dine your date at your house — or hers. Choose a budget-conscious meal and create a romantic ambience. Perhaps a bottle of inexpensive wine, candlelights, fresh flowers, and an after-dinner movie on Netflix. Your date will be so impressed by your effort, that he or she won't give thought to how much you actually spent to make the evening possible.

4. Plan an Early Date

If you want to take someone on a date but you can't afford the experience, get creative with the times. Instead of an evening or night date, how about a lunch date? Go to brunch or lunch and you'll save money by ordering smaller lunch portions. After you finish the meal, catch a matinee and pay $3 or $4 less for a movie.

5. Miniature Golf

Going to dinner is a cliche first date night. If you're looking for something a bit more casual and fun, take your date miniature golfing. Get outdoors and enjoy some activity as you laugh at each other's struggle to make a hole-in-one. Laughing can ease nervousness, and when you're finished playing enjoy a cup of coffee or ice cream.

6. Pay in Advance

If you want to checkout a concert, a play, or another cultural event but can't afford two full-priced tickets, use websites like Groupon to score discounts. Using a coupon on a date is a controversial subject (I think it's perfectly fine, frankly), but your preference may be to avoid showing up with one. You can get around that by picking up the tickets from the box office in advance. Your date won't be any the wiser.

7. Spend the Day at a Lake

If your date is the outdoorsy type, he or she might enjoy spending an afternoon in the park. But you don't just walk around holding hands and chatting — create a memorable, romantic experience. There are plenty of low-cost park activities suitable for a first date. You can rent paddle boats or go kayaking, or locate a shady spot underneath a tree for a picnic lunch or dinner prepared by your hands.

8. Skip the Expensive Flowers

Some people bring flowers on a first date, but this practice isn't really necessary. A bouquet of roses can set you back as much as $50, which is too much to spend when you don't know what the outcome of your date will be. Besides, if you're meeting your date at a public place, she probably doesn't want to carry a bouquet of flowers in her hands the entire evening. And even if she's able to leave the flowers in her car or at home, a big bouquet might be too much too soon. However, if you can't let go of tradition and you insist on bringing something, a single rose or flower will do — and it's much easier on your wallet.

Do you have other ways to save on a date without looking cheap? Please share in comments!

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This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Cheapest Dates That Don't Seem So Cheap

Nicholas Pell — Mon, 25 Aug 2014 11:00:03 +0000

Going out on dates doesn't have to break the bank.

There are tons of fun ideas that work great for first dates or tenth dates, and may even help set you apart from the other Drinks/Dinner Daters. (See also: 15 Frugal and Romantic Dates at Home)

Here are nine cheap date ideas that won't make you look like a cheapskate.

1. Stargazing

If you live in a big city, chances are good that you don't get a very good view of the celestial heavens. The solution? Hop in your car and get outside of the big city. Show your date something they haven't seen since they moved to town — the natural beauty of the stars. Pack a dinner and maybe even some candles.

2. Flea Market

Whether you buy anything or not, flea markets can be great places to wander around. Not only are you going to see some cheap items you didn't know you couldn't live without, you're also going to see some downright weird stuff you and your date will talk about for weeks to come.

3. Go Fly a Kite

When the weather is windy go get a kite and fly it. Not only will it end up setting you back less than ten bucks, it will also bring out a childlike whimsy neither of you have likely experienced for decades. (See also: 10 Fun Toys and Games You Can Make at Home)

4. Brewery and Winery Tours

For the couple that likes to imbibe there's always a tour of the local brewery or winery. Don't drink? Try checking out the local creamery or an ice cream factory. Experience joy you haven't felt since your age was in the single digits.

5. Book Readings

Are you a cultured kind of person? Looking for someone else who shares your interest in the arts? Book readings are generally free and wrap in about an hour. From there, the two of you can grab a cup of coffee, and you'll have a lot to talk about after a reading — good, bad, or ugly. In the same neighborhood? Hit up an art gallery. Either go on a day when it's not expensive or find a cheap (or free!) one that's a little off the beaten path.

6. Volunteer Together

Volunteer dates show off your compassionate side while also allowing you to have a lot of fun. For example, you can head down to the local dog shelter and play with dogs that are in need of love. Watch out, though: You might end up taking one home with you.

7. Foreign Language Movie Night

One of the problems with a movie date is that it doesn't give you much opportunity to get to know one another. Solution: Get some foreign movies and turn off the subtitles. Make up the plot as you go along. Crack up laughing and get to know each other.

8. Take a Class Together

It doesn't matter what you don't know: There's a great chance you can learn it on the cheap through Groupon or HowAboutWe. The bonding experience can be great and you'll certainly remember it longer than even the best meal.

9. Bar Trivia

Here's one where you can actually leave with more money than you went out with: Go out to bar trivia and play to win. Even if you don't win you won't spend much money on beer and drinks.

Got any great ideas for cheap dates? Please share in comments!

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This article is from Nicholas Pell of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Inexpensive But Romantic Dates

Ashley Jacobs — Mon, 12 May 2014 08:48:27 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some amazing articles on inexpensive date ideas, ways for families to save money in May, and making your wedding venue more affordable.

Find Love With These Fun and Cheap First Date Ideas

Nicholas Pell — Mon, 03 Feb 2014 11:36:11 +0000

You wouldn't be the first person to think that they're too poor to date. However, a killer first, second, or tenth date isn't about the money that you spend. It's about the time that you spend, both figuring out what to do and the time that you spend together. Let's face it: Even if you have the money, the old dinner and a movie standby is pretty boring. (See also: Date Ideas for Every Budget)

The best dates are ones that allow you to get to know one another without a lot of pressure.

The best dates are also the ones that are unique, and the good news is that unique and quirky dates generally don't cost a lot of money. Many of them are even free. Here's a list to get you going, but we'd also recommend that you make the Weekend section of your local daily your best friend, as well as the Calendar section of the local weekly. Until then, here are some ways to become the guy or gal with the killer date ideas that everyone is talking about.

Visit a Hookah Bar

Smoking is mostly out of fashion, but somehow the hookah bar has bucked this stigma. It's still a great place to get together and strikes a perfect balance between dinner (too much face-to-face talking, too much like a job interview) and a bar (too much noise to really get to know one another). Generally food and drink are available, but not necessary.

Go for a Walk

Whether you live in the woods, near the beach, or in the thick of the urban jungle, a walk is a great way to get your blood flowing and get to know someone. Amble around through an unfamiliar place or act as a tour guide. Either way, you're both going to have a great time. (See also: 25 Reasons to Take a Walk)

Visit an Arcade

You've probably got a few options here if you live in or near a city. You can go to the regular arcade with kids running around, the cool hipster arcade with vintage games (and generally speaking, vintage prices), or the nickel arcade with old-timey games.

Go to a Museum

The cool thing about museums is that they often have cheap days. And remember: There's more to a museum than just checking out paintings. For example, here in Los Angeles, we have both a Museum of Death and the Museum of Jurassic Technology, a throwback to the days of "cabinets of curiosity." Do a quick Google search and see what interesting museums are on offer in your area. (See also: Visiting Museums for Free)

Go Fly a Kite

It costs nothing, and it's a lot of fun. If you're someone with a bit of a whimsical side (or your date is) this can be a really memorable one — there's a good chance that it's been decades since either of you did this.

Teach (or Learn) Something New

Do you have a skill that you'd like to share? If so, it can make a great date. For example, maybe your date has never learned how to drive stick or doesn't even know the first thing about cooking. Teaching dates show off your skills while also giving your date something to take home with them — something that they can potentially hold on to forever. (See also: Free Things to Learn Something New)

Shoot Pool

Pool halls are insanely cheap when you rent by the hour. Split the cost of a table, and the two of you are going to have a great time for under 10 bucks each.

Catch a Live Show

Theater exists outside of Broadway. In fact, most cities of any size have some kind of local theater scene. While this one doesn't offer a lot of "getting to know you" time (and thus, doesn't make for a very good first date), it does let you appreciate and support the local arts scene without spending a lot of money.

Browse a Bookstore

On the other hand, a great first date idea is hitting up a local bookstore. You can do a big box, but obviously supporting local business is better. A fun activity to do there is for each of you pick up three books — one of these should be a childhood favorite, another a teenage favorite, and another one that you've loved in adulthood. This is a great way to learn a lot about each other quickly without forcing it.

Go to the Park

Public parks are a treasure trove of killer dates. You can have a picnic, take a walk, feed the birds, or cut loose and play on the swings together.

Take a Tour

Driving around checking out Christmas lights or autumn leaves is something that everyone should do at least once a year. Why not have a partner in crime?

Head Out on Arts Night

Another thing that most cities of any size have? An arts night. Almost always free, these are events that take place throughout the arts district and allow you get involved in the local scene and learn more about one another.

Whatever Is on Special

If you're a single and don't have access to Living Social or Groupon, you need to get on that. In fact, this can quickly become your very own social secretary. (See also: How to Make Sure You Use Your Vouchers)

There you have it: A baker's dozen ways that you and that special someone can get out of the house and get to know each other.

How about you? Any other great date ideas?

This article is from Nicholas Pell of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Go on Cheap Dates Without Being Cheap

Ashley Jacobs — Fri, 28 Sep 2012 10:00:43 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some stellar articles on going on cheap dates without being cheap, making a game plan for college, and whether or not you can be organic and frugal.

Best Money Tips: Cheap Date Ideas

Ashley Jacobs — Fri, 08 Jul 2011 10:00:19 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on cheap date ideas, garage sale tips, and how to handle surprise cash.

dates

7 Ways Being Single is Better for Your Bank Account

1. Valentine's Day is a money suck

2. Your food budget goes a lot further

3. Weddings aren't cheap

4. You have time to focus on your career and your finances

5. No more spending money on gifts

6. Vacations are cheaper alone

7. Two people means double the debt

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15+ Important Financial Dates to Mark on Your Calendar

January 1

January 16

January 29

March 31

April 1

April 15

April 17

April 18

June 15

June 30

September 15

Sometime between October 1 and November 1

October 1

October 15

November 1

December 31

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Why Tax Day Is April 15 and Other Weird Financial Deadlines

Why is Tax Day on April 15?

Okay, so why is Tax Day on April 18 this year?

Why was 65 chosen as full retirement age for Social Security?

Myth #1: People would die before collecting

Myth #2: Bismarck was 65

The truth behind 65

Why is 59½ the minimum age to take distributions from tax-deferred retirement accounts?

Why must you begin taking required minimum distributions from tax-deferred retirement accounts at age 70½?

Why does Social Security think New Year's babies were born in the previous year?

The government is not entirely lacking in sweet rhyme and pure reason

The High Cost of Modern Love

Movie Ticket

Dining Out

Concert Tickets

Broadway Show

Baby Sitter

Gifts

Dating Sites

The Cost of "Ghosting"

Alternative Date Ideas

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8 Ways to Save on a First Date Without Looking Cheap

1. Know Your Date's Interests

2. Pick Seasonal Activities

3. Wine and Dine at Your Place

4. Plan an Early Date

5. Miniature Golf

6. Pay in Advance

7. Spend the Day at a Lake

8. Skip the Expensive Flowers

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9 Cheapest Dates That Don't Seem So Cheap

1. Stargazing

2. Flea Market

3. Go Fly a Kite

4. Brewery and Winery Tours

5. Book Readings

6. Volunteer Together

7. Foreign Language Movie Night

8. Take a Class Together

9. Bar Trivia

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Best Money Tips: Inexpensive But Romantic Dates

Top 5 Articles

Other Essential Reading

Find Love With These Fun and Cheap First Date Ideas

Visit a Hookah Bar

Go for a Walk

Visit an Arcade

Go to a Museum

Go Fly a Kite