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Over a third of singletons feel like financial victims

Over a third of singletons believe they&#39re penalised financially, research from cahoot has revealed.

Monthly outgoings for a single person can be as high as those for a couple – who have the advantage of sharing household bills.

In fact, in a comparison with a couple&#39s monthly household costs, a single person onlybenefits from slightly lower food bills and a 25% discount for council tax.

Singletons in the 35- 54 year old age group are more convinced than the younger generation that they&#39re getting a financial raw deal, as over half said they were being penalised.

Younger singletons were less convinced, as only 28% believed they were being punished financially.

But the influence of single people in society is set to grow as the number of people living alone is on the increase. Official statistics show that by 2020, one-person households will make up 40% of total households.

Deborah Cutler, marketing director at cahoot, said: “With more people choosing to remain single, not being married with children by the time you&#39re 30 is becoming less of a pressure. However, on the financial side, being single can be a huge burden, with mortgage repayments and utility bills costing roughly the same as a couple, and holidays costing more with single room supplements.

“There are lots of ways that singletons can save money, such as searching for a lower rate mortgage, credit card or loan, but they can also do little things like clubbing together with other singletons to buy wedding and birthday gifts for friends.”

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