The new research encourages people to talk more openly about money and de-stigmatize that topic
Research shows single people are better off financially. Source: shutterstock.com
According to the Lloyds Bank research, over 60% of single adults have chosen the single lifestyle. About 66% of single women and 53% of men are better off financially without even realizing that.
Brits have listed having the freedom to do whatever they want (54%), not having to deal with relationship troubles (40%), and being more spontaneous with their lifestyle (39%) as the most favorite things about being single. All in all, among 15 million singletons in the UK, 43% of them admitted that being in control of their own money is more important than being spontaneous (41%). However, as to the least favorite things about being single, nearly 18% of singles say that it’s not having someone to split bills and living costs with.
At the same time, nearly 63% of Brits consider single living more or the same as expensive as being in a relationship. The single adults say they spend around ￡193 more a month, compared to those in the relationship, amounting to over ￡2,300 a year.
Nevertheless, the research found that single people are spending ￡300 less on living costs than people in a relationship per month, totaling up to ￡3,600 over a year.
Among 3 out of 5 (59%) singletons revealing they are happy with their single life, 1 in 5 (19%) have avoided the topic altogether and 1 out of 10 (12%) felt ashamed about admitting their single status. Only 40% of singletons have told the truth about being happy and not looking for a partner.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
