Oh, the money to be made from online dating!

You can be sure the business world is well aware of how much money can be made by operating an online dating service; that’s why there are so very many of them out there, all competing for your “dating dollar”. They put a great deal of effort into positioning themselves as your friend, your confidante, and your best choice for finding love, but never for a moment forget that none of that stuff is “real”.

Online dating is a business, first and foremost, and every paid dating service is going to do everything they can to squeeze every dollar possible out of you. Now, this is not necessarily a bad thing if they succeed in matching you with someone special. But you can never know at the beginning if you’re going to have this kind of success, so you have to go into it with your eyes wide open and with a budget in mind of what you’re willing to spend.

I don’t have anything against paid online dating sites; in fact, they can be quite good for many people. I do think, though, that it’s a good idea to use some of the free sites as well, especially those based on social networking concepts. Think of it as you would a financial investment; you wouldn’t put all of your money into just one kind of financial tool, and so you shouldn’t put all of your money (and effort) into just one online dating site.

Online dating may be big business and generate millions of dollars in profit each day, but it is still something very personal for you as the user. It pays to keep this in mind when you’re choosing which online service(s) to use and how much of your hard earned money to put into their offerings.

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This terrible economy doesn’t seem to be getting better very fast. Chrysler and General Motors have gone bankrupt, housing prices are rebounding slowly (if at all), and the ranks of the unemployed continue to swell by huge numbers each month. With all of this bad news around us, who has the enthusiasm to bother with dating?

Yes, things are tough, but one of the worst things you can do is to totally give up on dating altogether. Just because you’re facing financial challenges does not mean you are any less interested in finding a partner whose companionship you enjoy. The trick is figuring out the dating scene when everything around you seems to be falling apart.

Here are some tips and suggestions for dating in a terrible economy:

1. Broaden your preferences. It used to be that no self-respecting woman would consider dating a man who didn’t have a job, and a large number of men took the same approach. Today, however, you’re more likely than ever to find potential matches with people who are out of work for one reason or another. If you want to stay in the dating scene you need to consider broadening your preferences a bit so you don’t automatically exclude someone whose current situation is not ideal.

2. Get out and meet people. Let’s face it, online dating services can be pretty expensive, and that’s a cost your budget might not be able to handle anymore. The solution is to get out into your community more so you can meet people in the traditional way. Volunteer at a charity, take a class at the community center, or simply go for a walk each day along the same route. You’ll be amazed at how many opportunities to meet new people will come your way!

3. Stick with low cost activities. It’s okay to let the person you’re interested in know you would prefer to do low cost activities, so don’t be shy. If you can’t afford to go out to dinner, for example, suggest packing a couple of sandwiches and meeting at the park for lunch. Put on your thinking cap and be creative to find the best low cost activities to enjoy!

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It’s pretty hard to find a reputable dating site that doesn’t charge some sort of fee to its users. Of course, for most of these sites the fee is for “premium” membership, whatever that means. The question in my mind has always been “is it worth it?”

The answer to this question depends on a whole lot of other factors beyond just the cost itself (which is important, given the tough economy and the fact that most people don’t have nearly as much extra money sitting around as they did before). Before you take the plunge and type in your credit card information, think for a moment about a) what you’re really getting for the money, and b) whether or not you really need whatever it is you’re going to get.

For instance, does the extra fee give you extra access to more potential matches? Does it make your own profile stand out more on the website? Is it necessary in order for you to be able to contact members? Or is there some other real benefit to forking over more of your hard earned money?

If you’re going to pay, my advice is to start with the minimum subscription period that is offered. Also make sure you read the small print carefully (make a copy of the terms), and pay special attention to any auto-renewals clauses. You want to make sure your card is not going to be auto-billed once your subscription expires. This way, if your credit card does get auto billed when your membership ends, you’ll have legitimate grounds to dispute the transaction with your credit card company. If it’s in the terms and conditions, there’s not much you can do.

Of course the dating site will make it sound like a terrific deal, but you need to determine this for yourself. They’ll also push really hard to sign you up for long term fees by dangling a big discount in front of you. My advice is to avoid the long term fees whenever possible because you simply won’t know if you’re getting your money’s worth until you pay the money and start using the site; by the time you figure out if it’s money well spent or not it’s too late to get any back.

Here are some of the pros and cons of free vs. pay dating sites for you to consider.

The pros of free dating services

• You’ve nothing to lose – you can simply leave if you don’t like it.
• Your credit card won’t get hit with unsuspected automatic subscription renewals.
• There are now plenty of great free sites to choose from.

The cons

• Free dating sites tend be over populated with men, often with questionable motives for being there.
• Free sites often fall short on user support and customer care.
• Since there’s no payment record, it’s much easier for people to remain completely anonymous and untraceable.
• Many have distracting and annoying advertisements.

To fee or not to fee… that is the question. What’s the best answer for your budget and your needs?

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