As prices soar and the country grapples with the effects of a cost-of-living crisis, some people may me feeling the pinch more than others, especially as winter rolls around. Those with a significant other may benefit from sharing the cost of household bills and supermarket trips with their partners, but for single people, the cost of living lies solely on their shoulders.
According to Alice Haine, personal finance analyst at Bestinvest, people living alone aged between 25 to 64 spend an average of 92 percent of their disposable income, compared with 83 percent of two-person households, meaning the cost-of-living crisis will hit harder for singletons. “The buck stops with them,” Alice says.
“They must shell out for rental or mortgage costs in full, along with utility and food bills and other household costs such as insurance.”
