The ‘single tax’ revealed: What’s the true cost of being single?
We’ve broken down the price of being single in the UK and how it impacts your savings and future plans.
It’s no big surprise that being single can end up being more of a strain on your bank account than if you’re in a couple. If you live alone, you may well find yourself shelling out more money on bills, groceries and rent – sometimes referred to as a ‘single tax’.
Recent estimates suggest that over 8 million people live alone in the UK, so we’ve crunched the numbers to see what the cost of being single is in 2024.
The cost of being single compared to being in a couple
When it comes to paying for essentials, a single person will find themselves spending around £1,426 a month – over £600 more than someone in a couple. If you are part of a couple and share the essential expenses, you’ll pay around £815 each a month.
Expenses |
Monthly cost for someone in a couple (£) |
Monthly cost for single (£) |
|---|---|---|
Groceries |
£148 |
£136 |
Internet |
£15 |
£30 |
Rent |
£481 |
£962 |
Council tax |
£88 |
£132 |
Gas bill |
£31 |
£62 |
Electricity bill |
£34 |
£67 |
Water bill |
£19 |
£37 |
Total cost per month on essentials |
£815 |
£1,426 |
How does the cost of being single impact disposable income?
The cost of just absolute essentials is high for singles and this has a knock-on effect on how much you can spend in other areas, such as subscriptions to Netflix or Spotify, getting a takeaway on a Friday night, going on holiday or buying a new pair of jeans.
Our research found that a single person would be left with around £415 a month for disposable income, which works out at around £100 a week. Meanwhile, someone in a couple would have around twice that to play with – at around £873 a month or roughly £200 a week.
Category |
Single |
In a couple |
|---|---|---|
Essentials |
£1,426 |
£815 |
Disposable income |
£415 |
£873 |
Savings |
£138 |
£291 |
Our expert says: How to safeguard your finances as a single person
"I’m a happily single woman, living in my own place, arguably thriving. But when my boiler, fridge, and washing machine all had to be replaced earlier this year, I found myself daydreaming about an imaginary other half who could help shoulder the financial burden.
I’ve always prided myself on being financially independent, but suddenly I was acutely aware of the ‘singles tax’ – the idea that singletons face a higher cost of living than those in relationships.
The tricky thing is there’s not a whole lot you can do about the singles tax. And, if you’re happily single, you almost feel like you don’t have the right to complain. But there are still plenty of ways to safeguard your finances as a single person – or, frankly, even if you’re in a relationship, but your finances are not equal or shared.
- The first is savings. Having a personal safety net is so important; we always recommend having at least 3 months living expenses saved and stashed away. As our research found, it takes a lot longer for someone with a single income to build this kind of fund, but you can accelerate this process by putting your money in a high-interest savings account – you can earn up to 7% (AER) with Santander’s Edge Saver or first direct’s Regular Saver if you meet the T&Cs – to make that money work even harder.
- Look out for singles discounts. Single residents in England and Wales could be entitled to a 25% discount on their council tax. When booking your hols, keep an eye out for accommodation options that charge per occupant – you could get a double room, for a single-person price.
- Share your subscriptions (where eligible). One thing I always lean on is the idea that just because I am single, I am not alone. Hopefully you’re surrounded by a lovely tribe of friends and family, who might happily share some of those financial burdens with you. I share my Amazon Prime and Netflix subscriptions with a whole bunch of my besties. And you could always add your brother or best bud to your car insurance to score a little multi-policy discount.
The singles tax can often slip under the radar. So, if you’re feeling the squeeze compared to your coupled-up pals, try and initiate an open conversation to talk about budgets and what you can afford."
How does the cost of being single impact savings?
Assuming you want to save around a quarter of the money you have left after paying for essentials, those in a couple will be able to save an estimated £219 a month on average (£3,493 a year), while a single person will be able to save just £138 a month (£1,660 a year).
Saving for a house deposit
With more limited opportunities for saving as a single, this can change how long it takes you to reach important milestones such as buying a house.
While a couple could save for the average house deposit of £42,450 in around 6 years (assuming each person is putting in half and is in full-time employment on the average salary), it would take a whopping 26 years if you are single and in a similar position!
Saving an emergency fund
Most financial experts recommend having 3 months’ worth of essential outgoings saved in an emergency fund in case you need a buffer to fall back on. For someone sharing expenses in a couple, this works out at £2,445 each on average, which you can save in just 8 months.
However, the average single person would need £4,278 in an emergency rainy day fund and this would take 31 months to save – which is just over 2 and a half years!
Click here for more research. For all media enquiries, please contact –
Matt Mckenna
UK Head of Communications
T: +44 20 8191 8806
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