Survey: Over 50% of Americans Think Maintaining Adult Friendships is Expensive

Friendship Spending Statistics

Who doesn’t yearn for days on the playground with childhood friends? The only criteria for playing with others and forming bonds were proximity and mutual willingness, not to mention consent to share some toys. Friendship was easy and free of charge. 

But as it turns out, everything has a price, including friendship — at least in adulthood. We wanted to know how much Americans across the country spend on their friends, from regular meetups over food and drinks to weddings, travel, and more. 

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Nearly Half of Gen Zers Are Less Social Due to Cost of Living

Unfortunately, the rules of the playground have become the rules of the market for modern friendship in the U.S. More than half (52%) of survey respondents think that friendship is expensive. 

Not only that, but inflation is affecting social lives, too: 37% of respondents said they are neglecting their friends due to the cost of living, and that percentage increases to a stunning 44% for Gen Z. Millennials are similarly affected, with 38% saying they choose to save over socialize. Baby boomers are less ruffled by the cost of living, with only 23% reporting they neglect their friends. 

Friendship spending forecast and statistics from BadCredit.org

Friendship can also take a back burner to other major expenses such as buying a house or alleviating debt. About 2 in 3 (65%) people surveyed confess to reducing social activities to focus on saving and cutting spending, with 74% of Gen Zers leading among generations. 

This scaling back of socialization will be short-lived for 1 in 5, however: 21% of those surveyed said they plan on spending more on their friendships in 2025 compared to this year, and 64% said they plan to spend the same amount. 

Sometimes the spending becomes too much, as 1 in 10 said they have ended a friendship because it was too expensive, and another 21% said they feel they’ve been spending more on their friends than their friends spend on them. This can lead to resentment or feelings of inequality.

Speaking of inequality, it turns out that many find it hard to maintain friendships with those in different income brackets. Nearly half (43%) of respondents said they struggle with friends who make significantly more money, and 15% struggle with those who make much less than they do. 

No matter how you look at it, though, people want more relationships: 47% of those polled said they wish they had more friends, and a stunning 76% said they wish they could see their friends more often. This may be because over 1 in 5 (21%) only see their friends once per month. 

Millennials Spend the Most on Friendship Each Month

With Americans talking about how expensive friendship is, we wanted to know what exactly they were spending their hard-earned dollars on. It turns out, people are spending so much that 42% said they have to budget for friendship.

Of all the generations in the survey, millennials are the heaviest spenders, with an average monthly spend of $482 on their friends. Gen Zers come in second place at $433, while Gen X and baby boomers spend nearly half that on their friends: $257 and $256, respectively. 

Millennials drop the most on drinks and food, while Gen Z focuses on entertainment such as concerts and movies with friends. Gen Xers and baby boomers both seem to prioritize food as their main monthly expense with friends. 

Americans Spend an Average of $5,184 Annually On Time with Friends

What about once-a-year expenses for birthdays or special occasions like weddings or trips? These expenses can also add up. To calculate yearly costs, we looked at the monthly expenses listed above and surveyed people on other, more unique expenses like weddings, travel, and the holidays. 

Friendship does add up, especially for millennials. Here’s the total breakdown of a year in friendship expenses, by generation:

  • Gen Z: $6,181
  • Millennials: $7,138
  • Gen X: $3,905
  • Boomers: $3,832

Millennials continue to outspend other generations in nearly every category, except for travel with friends, where Gen Z takes the lead.

City Dwellers Spend Over Three Times as Much on Friendship

Where you live also affects how much you spend. While part of this may be due to the general increase in the cost of city living, there’s a striking difference between the average spending of those who live in cities compared to everyone else.

Spending on friendship by location in 2024 by BadCredit.org

One of the perks of city living is the easy access to food, drinks, entertainment, and activities, which is reflected in the higher spending across the board by city dwellers. Especially notable is how much respondents in cities say they spend on activities compared with suburban and rural dwellers, who spend most of their money on food, followed by beverages. 

“It pains me to learn that so many people are neglecting their social lives due to the high cost of living! These relationships are essential,” said Erica Sandberg, Consumer Finance Expert with BadCredit.org. “Yes, going out can be expensive, especially if you live in urban environments, but it doesn’t have to be. Odds are there are many affordable events and activities in your area.”

No matter how you look at it, friendship as an adult comes with a price tag. While there are many ways to spend time with each other without digging into your wallet — walks, anyone? — it’s still easy to spend a lot of money on good times with friends. Track your spending carefully, and you’ll find both your friendships and your credit score to be golden.

“Explore what’s available, but also communicate your financial constraints with your friends. You don’t need to go into great detail. Just explain that you are on a tight budget or have other financial obligations or goals you want to meet, then suggest alternatives,” Sandberg said. “For example, you may want to take group walks around town or find out when museums are offering free days. Learn which restaurants are offering discounted happy hours. Instead of saying no, offer appealing options.”

Methodology 

In October 2024, we conducted a survey of 995 Americans to ask about their spending habits around friendship. Among respondents, 49% were men, 49% were women, and 2% were non-binary or preferred not to answer. Respondents ranged in age from 18 to 75, with an average age of 40.

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