Being single or having a partner?
Every situation is different: there will be some single people who are spending less and there will be couples who are spending a lot of money.
One benefit that single people can't profit from are combo discounts, some of them designed specifically for couples, leaving single people without a chance of even thinking about getting a 2 for the price of one promo.
More money is paid for the same services and many offers do not apply for single people, it's cheaper for two.
And let's face it, when you're single, it's easier for you to “spend more” than when you're in a relationship. When we're in love we tend to focus our goals together and in most cases the expenses are divided.
Is being single expensive?
1. Singles people often apply a financial “You Only Live Once” (or YOLO) point of view, and that causes them to deviate from their financial goals.
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2. In vacation packages, most hotel rooms cost the same for single people than for a couple.
3. When you order food at home, you order the minimum amount, that can practically feed two persons.
4. The romantic 2 for the price of 1 at movie theaters, gym subscriptions and other subscriptions do not include discounts for single people.
5. Being married can get you better rates per person (specially for women) when you sign up for a health insurance plan, it's even cheaper when you contract a family plan.
Savings tips for singles
If you are single you have better chances to save money, and if you're not achieving it, you are doing something wrong.
- Save a certain percentage of money of what you spend on beer.
- Save the money you would spend on a date to include it in your budget.
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- Don't spend your $5 bills, build your emergency fund.
- Avoid shopping online like there is no tomorrow.
- Save money to go on a date with you next Friday (for example: buy pizza and watch that movie you've being dying to see).
