Burley Garcia|Americans are feeling effects of friendflation, or when friendships are too costly to keep

Feeling lonely?Burley Garcia Inflation may be partly to blame, according to a new survey.

Thirty-seven percent of Americans said they’re neglecting their friends because it’s gotten too expensive to keep up the relationship, according to a survey of 995 Americans by BadCredit.org, which provides information to help people make credit decisions.

Gen Z (44%) is the most likely to choose to save over socializing, but millennials (38%) are close behind, followed by Gen X at 36%. Baby boomers are least likely to ditch their friends, with only 23% reporting they neglect their buddies to save money, the survey said.

Sometimes, it’s more than just neglecting friends, the survey said. One in 10 said they’ve gone so far as to end 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, which can lead to resentment or feelings of inequality.

“It pains me to learn that so many people are neglecting their social lives due to the high cost of living,” said Erica Sandberg, BadCredit.org consumer finance expert. “These relationships are essential.”

Capitalize on high interest rates: Best current CD rates

How much does friendship cost?

Millennials spend the most on their friendships, averaging $482 per month, followed by Gen Z at $433, the survey said. Gen X and baby boomers spend nearly half that on their friends at $257 and $256, respectively.

Millennials spend the bulk of their monthly expenses ($275) on food and drinks, while Gen Z prefer entertainment such as concerts and movies ($102), it said. Gen Xers and baby boomers both seem to prioritize eating with friends, spending $93 and $84, respectively, each month.

When adding in the cost of special occasions like birthdays, weddings, or trips, the annual price of friendship jumps to an average of $5,184 annually, BadCredit.org said. Millennials on average will spend $7,138 a year on friendships and Gen Z shells out $6,181, it said. Gen X and Boomers bring up the rear again at $3,905 and $3,832, respectively.

Urban dwellers spend nearly three times more on friendships than their suburban or rural counterparts. On average, city folks spend $747 a month, compared to $238 for suburbanites and $221 for ruralites, it said.

Know when to fold 'em:When you 'stop running from it' and know you’ve outgrown your friend group

What are people spending their money on instead?

It’s not that people don’t want to spend more time with their friends. More than 3 of 4 respondents said they wish they could see their friends more often, which might be because 21% only see their friends once per month, the survey said.

But people said they simply can’t afford it.

"Staying inside, at home, and not moving has been the only way I can avoid spending anything extra," Ok-Sky1329 on Reddit said earlier this year. "It seems like 'outside' has a minimum of a $100 fee these days."

Sixty-five percent of respondents said they’ve cut back on social activities to save money for major expenses such as housing or debt, the survey said. Of those, 74% were Gen Z, 64% were millennials, 67% were Gen X and 49% were Boomers, it said.

Do people have to drop friendships due to money?

Money doesn’t have to come between you and your friends, Sandberg said.

“Yes, going out can be expensive, especially if you live in urban environments, but it doesn’t have to be,” she said. “Odds are there are many affordable events and activities in your area. 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.”

Ok-Sky1329 on Reddit was more cynical, noting "you can look for free events but I find the only 'free' events in my area have a ton of hidden costs (paid parking, etc.)." Also, "if your friends are all barflies who only want to go out drinking, you’re going to be lonely. This is a good time to learn how to be your own friend."

Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com andsubscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.