According to new research published by Lloyds Bank, being in a relationship can set you back a whopping £3,600 (or AUD $6845.54) each year.
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The main offender? Living costs (singletons spend around AUD $570 less than those who are coupled up.)
The study involved more than 4,000 adults across the UK, with the majority (60 per cent) choosing to embrace their single status.
Speaking with the Telegraph UK, consumer affairs expert Harry Wallop described the findings as “surprising.”
“It's worth remembering that the Lloyds Bank survey asked single people, not single households, which is usually the criteria that the likes of the ONS use."
“This importantly considers the financial benefits that shared housing brings – in that a single person could be living with four others and splitting their living costs five ways. It's also worth considering the large number of single people in their fifties and sixties - a demographic often overlooked - many of whom have paid off their mortgage and have lower outgoings.”
He continued: “Another reason why single people could be better off is that they do not face as much pressure as couples when it comes to spending lots of money on presents around anniversaries, birthdays and Christmas.”
However, although they’re spending less, single folk are less likely to save.
“Finding someone to talk to about money may be harder to do if you’re not in a relationship but being open about your spending and saving is one of the secrets to having healthy finances,” Wallop added.