You always hear people joke after a break up about how much money they are going to save now, but the opposite might be true! Here are 5 ways you being single might cost you more:
This list is from a CNN article (HERE)
- You'll likely pay more for basics- if you once split bills, obviously you'll spend more because you have to cover 100% after a breakup.
- You don't have a financial backstop- you won't have someone to lean on financial in case something happens. ex: Losing a job or a major medical bill.
- You may be charged extra on a group trip- sometimes a group trip will cost you more because the group rates are based on double occupancy- so while you're paying $200 a couple could split that.
- Your Social Security benefits are less valuable- spouses and children may qualify for benefits from your social security.
- You're more likely to run short of money for retirement- According to the Employee Benefit Research Institute, quote, "single women, which include those who are divorced and widowed, have a retirement savings shortfall that is three times larger than that of their married peers."
Read more about it how you could be spending more money HERE