On social media and I saw posts about the stimulus cheques everyone received this week. Someone said that the average American family only has $400 in savings. I was thinking, how is this possible? So it got me thinking about the singles tax. Let’s step back…
My friends think I have a load of disposable income because I don’t have dependents or a partner. I also don’t enjoy the same marital tax breaks as them or the security of a permanent job. Yes, my commitment issues extend to #WorkWoes. (I think this is why I’m a godmother to so many. The concept that we are just floating around in a sea of £50 notes awaiting to bless another child…)
But, the reality is that I pay singles tax. In the UK this means a single person pays about £10,000 per annum more because they have to pay Council tax, utilities, rent / mortgage etc solo. Even on holiday a hotel room or taxi can’t be split between two. I have to buy food for a family as it’s cheaper than buying in single portions. The singles tax is real and being fabulous isn’t cheap. You may argue that we don’t pay as much as a single income family but they have someone doing work in the house as well so they distribute the work load. Yes, being a stay at home parent or partner is work.
Dating isn’t cheap
We’ve often jokingly argued about who should pay for dates and my argument is that women spend a lot on a date beforehand on salons and outfits. The reality is we do spend a lot of money on the superficial whilst dating. Dating is an expensive pursuit. So all of those successful single women out there don’t have a lot of choice. The single life isn’t easy! That being said it’s just expensive being single especially in major cities where everything is a little more expensive. So, take a moment to congratulate yourself on making it this far!
Dating isn’t cheap. From dinners to destinations the need to impress the other person with your best self comes at a price. This is why we see dudes on First Dates sweating when the bill comes. That impressive looking fondant dessert and all those drinks to calm your nerves are going to cost you.
Single and working
The current pandemic means we’ve realised how many of us can’t survive solely on a single income. Very few of us can go without working for 3 to 6 months and survive without dipping into our overdrafts and credit cards. Some of you are wishing you had paid more attention to those passive income videos now huh? Not me, the biggest hit industries are those with micro hotels, landlords etc so property-based ones. Having to juggle mortgages and interest rates isn’t going to be easy. And having to queue at the post office to sell some crappy product doesn’t appeal to me either. Those queues aren’t a joke these days!
Reality has set in for a lot of us on how single we really are. There is literally nothing you can do if you are in certain industries or you’re a contractor. If you already have a partner with whom you co-mingle your money then that’s great but for many of us that’s just not the case. Work is not an option and Universal Credit doesn’t cover it. So what are your options?
Let’s explore more in Saving Whilst Single.
© Chelsea Black 2020