The True Cost of Being Single

There is a lot of stigmas and unnecessary sympathies extended to single people. But being single is great, not just as a life decision, but also as a financial one. I save money in so many areas. Going out less frequently means I have stopped regularly spending money on eating out and drinking, gift-buying and big-ticket presents for holidays and celebrations. As a single person, I’m less likely to go travelling frequently (as solo travelling only makes up 11% of the overall travel market) and living alone means I spend a lot less money on toilet roll — who knew?

But, if you’re single and living alone, life can be quite expensive on the whole. While single people tend to spend less of their disposable income than couples do, with the average couple spending £1,300 more a year than single people (probably because they have more disposable income to play around with due to sharing core expenses), the total amount of money saved doesn’t work in the single person’s favour.

When I became single again, my household expenses doubled. I was suddenly paying double for rent, electricity, gas, insurance, internet access, council tax and water rates. If something broke or an unexpected vet bill arose, the debt was 100% my responsibility. I would say my unpaid labour around the house increased also, but that unsurprisingly remained the same.