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UK singles 'spend more than couples'

Posted on: July 23, 2010 12:18:55

Lonely hearts could save money by finding a new partner, as single people spend proportionally more of their income than couples or families, according to one finance expert.

Managing director of price comparison website moneymaxim.co.uk Mark Bower warned that single people should be particularly careful with money because their lives would "without a doubt" cost more.

"They can end up spending a bigger proportion of their income," he added.

A recent report by uSwitch.com announced that those living on their own could, over a lifetime, end up paying around £250,000 more than someone with a partner, with council taxes, mortgage and rent being some of the biggest expenses.

Mr Bower suggested avoiding standing charges where possible and using mobile phones instead of landlines.

He also advised people to re-evaluate their spending whenever their lifestyles change, especially if they get a new partner or go through a break up and move out on their own.

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