The grass always seems greener when looking at the fact that couples have two incomes, but being single has a host of benefits when it comes to being without a partner. While two people working have double the income, they also tend to have higher expenses. Those who have made a lifetime commitment to each other also have thought out their financial goals, and they are often strapped for cash. This can happen to singles, but it is less likely to cause the problems that arise between couples when it occurs.
A Plan for Spending
Single people usually have only one income unless they work at more than one job, or they might be lucky enough to have a trust fund left by a relative. Since the trust fund is unlikely for most people, those who like to spend more than their income will likely have to get a second job if they continue to overspend. For those who would rather enjoy life, they can cut back on their shopping habits, and they do not have to worry a partner will destroy their budget.
Saving for a Rainy Day
Financial advisors always counsel people to put aside money for the mishaps of life, but it is often difficult for anyone to do. For those who are single, a savings plan is a way to help them learn fiscal discipline. They generally have resources that do not include money, and some of them have found that saving is easy when they have a roommate. Saving as a single can actually be much easier than it is for those who are married.
Spending Decisions
When a single person sees the perfect set of furniture for the living area, their biggest concerns are whether or not they can afford it and will it fit in their home. They have no worries that their life partner will object to the color, fabric or shape of the set. There are no shared decisions necessary unless they are financing their purchase, and the only other person who must be consulted is their banker.
Spontaneous Trips
The freedom of a single person is evident when it comes to taking a trip at the last moment, and they should appreciate it deeply. When an airline suddenly announces they are lowing air fares for weekend getaways, single people do not need to consult their partner to see if plans can be changed. A person with a partner might have to wait for an answer, and all the low fares might be gone before the decision is even made. Getting away for a spontaneous adventure takes little to no planning for someone who is not answerable to a partner, and they only need to consult their electronic device to ensure they have the funds necessary for purchase.
There are many advantages to going through life alone, and financial decisions are often easier without a second opinion from an interested partner. The person who has no one to consult can take advantage of the deals life offers to those who have nobody else to consider, so they have the benefit of being able to do what they want when they want to do it.
