When it comes to household costs couples are more likely to pay more than single people, new research from Confused.com reveals.
People in a relationship spend an average amount of £538 a month for rent, mortgage, and bills compared to £421 for those who are single.
Those in a relationship spend, on average, £144 a month on socialising compared to £139 for single people – perhaps as a result of wining and dining with their partners.
The research from the leading price comparison site shows that Brits in a relationship spend £195 a month more on living costs than those who are single – those with a partner spend, on average, £1,003 a month compared to just £808 for those riding solo.
Single people can actually save up to £2,340 a year just because they are not in a relationship.
And when it comes to buying food and household essentials, people in a relationship are paying a premium of £52 – £200 compared to £148 on average. This extra costs equates to a staggering £624 a year.
This is despite more single people living alone – more than half of those who are single (53 per cent) say they live alone compared to just 8 per cent of those in a relationship. Of those in a relationship, the majority (84 per cent) say they do live with their partner – meaning they are more than likely to be splitting rent and bills.
However, when it comes to special occasions, those in a relationship seem to have the upper hand. More than two in five couples (43 per cent) say they split the cost of buying present for special occasions – compared to just under a third (31 per cent) of single people who do the same.
And when it comes to socialising, single people seem to feel like they are missing out as nearly one in seven (13 per cent) say they only see their friends who are in a relationship when they are celebrating something. More than one in five (21 per cent) say they attend their friends’ special occasions more than they host their own.
Some will simply avoid buying a present for these special occasions (31 per cent) preferring to simply buy a card, some feel a bit more generous (17 per cent) and say they splash out even if it means they have to cut back elsewhere. And whilst some are making cut backs, others are choosing to use credit cards to fund their attendance at special occasions – with one in five (20 per cent) saying they use their plastic for travel costs, purchasing a new outfit, or buying gifts.
Nerys Lewis, head of credit cards at Confused.com, says:
“The question of what’s better for your pocket – being single or in a relationship – is an argument that will always divide. People who are single might feel like they are constantly paying for things themselves; conversely, those in a relationship might forget how quickly those date nights and meals, whilst a lovely treat, add up. It might surprise people to note that being in a relationship seems to cost more than being single – despite having someone to split costs with.
“But whilst there is a difference in monthly spending, when it comes to purchases for special events, there isn’t too much difference. Whilst it’s advisable that people do budget for special occasions, it’s understandable one in five of us turn to our credit cards to help fund these days out. And whilst this isn’t necessarily a bad thing, people shouldn’t rely on their credit cards as a way of funding these events.”
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