The cost of living crisis is here, and things are only set to get worse with the energy bill price cap increasing in April and prices of petrol still soaring. But did you know that your household bills could already be 60 per cent higher than other people's because of your relationship status?
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Singletons end up paying more for monthly outgoings than those in relationships or those who are house sharing as they are unable to split the cost with anyone. Ocean Finance analysed the average cost of housing, utility bills, internet, a TV licence and council tax to discover that UK singles are shelling out an extra £363.20 every month.
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On average, a person in a couple will pay £593.28, while a singleton will be left with £956.48 to find each month.
Rent was the biggest contributor to this discrepancy with a single person forking out £674 a month and a couple paying just slightly more at £866 a month, so £433 per person.
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Council tax was also a major contributor despite the 25% discount for a single-person household. For the average Band D bill, singles paid £113.60 a month, but individuals with partners paid just £75.75.
How can you reduce your outgoings as a single person?
Partner with a friend - with offers like a Two Together Railcard or Spotify Duo account, you can partner with a friend to cut your outgoings.
Singletons pay more on bills
Buy in bulk - the general rule when it comes to food shopping is the smaller the packet, the more it’ll cost. Try buying in bulk and splitting food into the portions you need, freezing or by storing the extra in airtight containers. You can also batch cook your meals to help reduce costs and save you time.
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Look for discounts - some bills are cheaper for single-person households. You’re eligible for a 25% discount with council tax and you can apply for a rebate if you’ve been overpaying.
Switch to the right tariffs - by choosing the right tariff, a single person can reduce their monthly spending on bills. For example, changing your water bill to a meter rather than a set fee can give you a significant reduction.
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