Money Box Money Box Live: Does Being Single Cost You More?
Jul 22, 2025
Join Sarah Pennells, a Consumer Finance Specialist, and Laura Suter, Director of Personal Finance, as they dive into the unique financial challenges faced by single adults, highlighting that singles often pay more each year compared to those in partnerships. They discuss everything from grocery bills to hidden travel costs, while sharing savvy strategies for budget-friendly living. The conversation also touches on the emotional and practical aspects of finances after loss, celebrating the autonomy that comes with being single.
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Single Living Costs Anecdote
- Jeff shared that cooking for one leads to buying too much food and sometimes wasting it.
- He pays about £266 monthly for gas and electric, feeling the burden of higher individual costs.
Singles’ Financial Strain Insight
- Singles face higher costs on essentials like food, energy, and housing, leading to more financial strain.
- They are less likely to own homes, affecting wealth accumulation and financial resilience.
Council Tax Discount Explained
- Single people living alone can claim a 25% council tax discount but not 50%.
- This is because councils balance affordability and proportionate cost reduction for single households.