The Extra Cost of Being Single (and Why You’re Not Imagining It)

From everyday expenses to long-term money decisions, flying solo comes with its own set of challenges.

Fixed expenses 

First, we have the burden of living expenses. Whether it’s rent, mortgage payments or utility bills, you don’t have the luxury of splitting these – and it’s a lot to take on. This can feel daunting at times, but there’s always a way forward.

“There’s so much that needs to be shouted about single person deficit and how financially penalised you are by having to be responsible for bills on just one income rather than two”  – Community member, Emma

Long-term plans

From retirement savings to buying a home, sh*t is harder when you’re solo. The responsibility is all yours… This might seem intimidating, but it’s also an opportunity for empowerment and self-reliance.

“People with dual incomes don’t always understand the struggle for a single income household – even my own friends sometimes don’t get that I can’t afford to be extravagant and have to prioritise my finances.” – Community member, Clair

It’s not all bad news

It’s important to point out that being single isn’t all about added costs and money issues! Living alone gives you a lot of freedom and flexibility. You get to make decisions based on what you like and what’s important to you. Whether it’s choosing where to live, how to invest, or when to treat yourself, you have all the power!

Plus, you don’t have to tackle these challenges alone! Having a solid group of friends, family, and a supportive community (hello Financielle girlies), can be super helpful in providing guidance, reassurance and encouragement.

Be sure to use these resources:

• The Playbook – this is your money Bible! 📕
• Budget Tracker – create a budget (& stick to it!) 💸
• Net Worth Tracker – see your progress 📈
• Blogs 📝
• Community 👯‍♀️

With the Financielle tools, you can get your money $h*t together with confidence and peace of mind. So yes, there are extra challenges, but who knows, maybe one day you’ll look back on this chapter of your life with gratitude for the lessons you learned and the resilience gained.

In the end, the extra cost of being single is just a small piece of the big picture. Embrace the journey, cherish your freedom, and remember that the best investments are the ones you make in yourself.

Keep at it, you’re doing amazing 💪