Price of love: Aussies spend $11b a year on dating

What is the price of love? More than $11 billion apparently.

That is what Aussie singles spend on dating each year, according to new research from ING Direct.

We're forking out a whopping $80.7 million for dating services, and we spend an average of $79 on a first date.

A third of singles go on at least one first date a month, with a further 32% going on two or more first dates each month.

More than half of single men are prepared to pay for the first date, led by male Baby Boomers and Gen X males. Only a quarter of millennials males are prepared to cover the cost of a first date.

One in four Australians splash $100 or more on pre-date preparation, including new clothes, shoes, hair and make-up, and men spend almost as much as women.

New clothes top the list of the most popular items singles spend money on to get ready for a date.

Victorians are the biggest spenders when it comes to getting ready for a date, forking out $69 compared with $67 for those in NSW, $53 for Queenslanders, and $53 for West Australians.

South Australians are the thriftiest daters, ING says, spending just $48 in preparation for date night.

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