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Single or hitched: There's always an upside

SINGLE OR HITCHED: THERE'S ALWAYS AN UPSIDE Valentine's Day is known as the day of love, but for many of us, Cupid's arrow is more painful than love-inducing. Fortunately, every cloud has its silver lining: Being single might actually save you money. We've compared typical spends of those who are single versus those who are coupled up to see which is better for your pocket. WH SPENDS MORE? AVERAGE SINGLE PERSON MARRIED COUPLE WITH NO KIDS £6,000 £5,502 £5,584 £5,000 £4,214 £4,353 £3,809 £4,000 £3,716 £3,542 £3,524 £3,199 £3,146 £3,000 £2,479 £2,000 £1,228 £1,000 Food & Drink Transportation House & Home* Shopping Health & Family : Travel & Leisure *Not including rent or mortgage WHO SAVES MORE? SINGLE MARRIED Denotes who saves more In the UK - singles receive a 25% discount on their council tax bill if they live alone. But, unfortunately, singles don't get nearly as many tax perks as couples. For most couples, filing jointly will save them money because they can claim the Married Couple's Allowance. This is also the case for civil partnerships. TAX Unfortunately, if you're unwilling to live with a flatmate, being single means paying for your own place; and living with a flatmate usually requires a two bedroom place anyway. However, one person requires less energy and water than two - and therefore will pay less on utilities than a married couple. Yes, a married couple will most likely be spending more on utilities than a single person. But the obvious benefit to being married, in terms of housing, is the fact that you always get a two-for-one deal. Not only are you sharing a place with your better half, but a room as well (we hope). HOUSING A night out with your friends means buying a meal and drinks for yourself only. But keep it that way because it means you won't have to spend ridiculous amounts of cash on a round for the whole group. The truth is you have to pay for two when you go out - there's no way around it. This can certainly add up if you're out multiple times each week, FRIDAY NIGHT OUT Buying gifts for birthdays, Christmas, weddings, and other celebrations is almost always an overwhelming task - and doing this alone not only takes up precious time, but requires your money, and your money alone. A married couple is able to put both their names on a single gift. Furthermore, they can split the time it takes to shop for these gifts right down the middle. It's a win-win all the way around. BUYING PRESENTS It's true that you only have one mouth to feed - your own. But cooking for one can easily lead to wasting food. In terms of money, it takes more to feed two mouths, but fortunately, buying in bulk is cheaper. Furthermore, the time it takes to shop and prepare food is much more beneficial for a couple than someone who is single. FOOD SHOPPING Singles usually pay full price because they can't take advantage of sharing the costs for car, home, and various other forms of insurance. Whether it be car, home, theft, or other forms of insurance, buying it for you and your sweetheart is almost always more cost effective than buying it for just yourself INSURANCE because of the inherent shared cost. Sources: money.bundle.com | investopedia.com | forbes.com | xe.com | direct.gov.uk Confused.com

Single or hitched: There's always an upside

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Valentine's Day is known as the day of love, but for many of us, Cupid's arrow is more painful than love-inducing. We've compared typical spends of those who are single versus those who are coupled up...

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Confused.com

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Love and Sex
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