A recent study commissioned by an online comparison site claims living alone costs singletons an extra £250,000 over a lifetime. Bearing the full burden of a mortgage or rent, holidays and bills, all adds up and single people spend more over the course of their life because they’re not part of a couple.
The Institute of Fiscal Studies don’t think it’s so clear cut, with the art of being a clever consumer more or less the same for the single people as anyone else. Dropping down a brand, making a shopping list, menu planning, – are all ways of cutting supermarket bills for everyone. But as we know, they do acknowledge it’s harder for singles when it comes to booking a holiday.
Whilst couples do have a clear advantage with their buying power another school of thought says there are some other financial advantages for single people, with tax credits and benefits penalising couples.
But with the number of single-person households forecast to reach 9.5 million over the next decade are single people at a financial disadvantage? Is this the case? And if it is, what can be done to minimise the price of being single?
Is being single an unfair disadvantage? – What do you think?
Dedicated to your interests, we don’t plan to take a reactive stance for settling for what’s available. It’s time for a wake up call. Using the power of 1 to the power of 17M people we’ll be asking all those providing household services all sorts of difficult questions in the coming months. Challenging them, to get the very best deal for you.
Is being single more expensive or an unfair disadvantage? What do you think? Tell us your hints and tips for reducing your bills.