A single life can mean you are £102 worse off

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COHABITING couples are on average £102 better off each month than singletons, according to a new survey.

The research commissioned by Leeds-based first direct also found that 91 per cent of the UK population haven’t changed their relationship status in the last 12 months.

Just over two thirds said they were living together or married, a fifth were singletons and eight per cent were in a relationship, but not living together.

The average monthly disposable income of those who are married or living together was £102 more than a singleton, £307 per person for cohabiters versus £256 amongst singletons, giving them £1,224 more each year.

Surveyed singletons said they are less likely to be able to treat themselves than those who are married or living together.

When asked if they could afford things like regular holidays, nights out, gym membership and a cleaner, 34 per cent of singletons said they were unable to afford any of the options, while 23 per cent of cohabiting couples said the same.

The survey found 37 per cent of singletons felt able to add to their savings each month compared to 45 per cent of cohabiters.

Andy Forbes, head of retail products at first direct, said: “Peoples’ relationship status has a real impact on their finances and in turn their ability to save and afford the finer things in life.”