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Single Brits are spending £10k more a year than those in couples

Peter Kelly
Feb 13, 2020


Being single in the UK seems to be costing singletons nearly £10,000 a year according to new research.

Findings by Opinium, on behalf of Life Insurance Broker LifeSearch, asked respondents: 'to consider how much they spent each month on essentials including mortgage/rent payments, council tax, insurance, utility bills and groceries, as well as yearly spending on non-essential items such as holidays and entertainment.'

Their research found that a single Brit living alone is spending £9,679.20 extra than a couple would. LifeSearch broke down the figures and put forward that those single Brits living alone 'will pay on average £2,789.40 more on mortgage/rent payments, £1,749.60 more on council tax, £1,621.80 more on contents, car and other insurance, £2,073.00 more a year on utility bills and £1,445.40 a year on groceries.'

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The near £10k figure does not even include other spending outgoings such as: hotels, family events like weddings and birthdays, going out and dating which adds on a further £930.50 per year.

This cost on single Brits who live alone means they save less than £1000 compared to those in a couple. This has resulted in a third of those who live alone and are single admitting they don’t have a safety net should they fall into financial hardship.

There is a difference in the amount of money a female single Brit living alone has left over after spending on her essentials than a male equivalent. Women who live alone have £264.30 on average left each month after essential spending whilst men have £460.80 according to the new research in January 2020. 

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Emma Walker from LifeSearch outlined the hardships single people who live alone face: "It can be easy to make light of singles needing ‘protection’, but in all seriousness, it is very important people be aware of how vulnerable a position they may be left in if something unexpected happens. Protection can provide a safety net in such circumstances.

"Sometimes it can seem like life is geared towards being in a couple – with everything from council tax to holidays coming out cheaper if you’re partnered up. But without the back up of a partner’s salary if things go wrong, single people really do have additional challenges when it comes to financial planning."

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