45% of People in a Relationship Think They’d Be Better off Single

Oct 24

45% of People in a Relationship Think They’d Be Better off Single

With dates, presents, holidays and weddings being just four of the many headline costs of being in a relationship, it’s no wonder some people think that their partner is more trouble than they’re worth. In fact, a new survey by TotallyMoney.com has shown that 45% of people currently in a relationship feel that they’d be financially better off single – and what’s more, single people more than agree.

A massive 68% of the singles surveyed claimed that they felt a relationship would cost them more money than if they remained alone. And when it comes to the costs at least, it’s easy to see why.

The average price of a wedding in the UK, for example, is an eye-watering £18,000.

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The small things will cost you too though. The average meal for two in 2014 will run you £41.32, and add to that a £15 bottle of wine and you’ll be outlaying £56.32 per restaurant date. So if you’re regulars when it comes to eating out, that meal here-or-there can end up you costing you hundreds, if not thousands of pounds a year.

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Even one-hitters like Valentine’s Day will leave you spending an average of over £30, and if you’re generous birthdays often don’t bare thinking about.

But while these costs may be all too apparent, the (often dramatic) savings that come from having a partner are often overlooked, and, most likely, will more than compensate for any relationship expenditure.

Take rent for example. The average UK rent for new tenants in September 2014 was £918 per month. Over a period of five years this will cost you (excluding price increases) £55,080. With a live-in, rent paying partner though, the same house will run each of you £27,540 – and in turn your relationship will have saved both of you the same amount. After five years of co-habitation that’s £55,080 (between the two of you) that can be spent on the wedding and honeymoon of lifetime, all with cash to spare.

The cost of heating the same house is much less frightening also, when split between two.

And while all your expenses won’t be halved with a partner, many of them will benefit from the economies of scale that come with a two-earner household and lifestyle. Food, bought in bigger bulk, will bring in the savings, as will sharing the car and spreading the cost of fuel.

The security that comes with a dual-income household can also not be underestimated, as if you lose your job your partner can be your financial safety net, and vice-versa.

But of course, it’s not all save, save, save. Whilst not all couples will have children, the omission of them up to this point may still have been obvious, because, if you do want children, the latest research shows that they now come with a hefty price tag of £227,266.