‘Single in London: maybe my worst financial decision’

Love makes you do stupid things — financially. There was the ex-girlfriend I almost bought a houseboat with to try to keep the relationship afloat. An ill-advised affair with a housemate left me paying his rent for a while. But being single in London may be my worst financial decision of all. While I’m content to continue to be somewhat feral, with my lifestyle choices ratified by brat summer, my house deposit savings accounts (Lisa, Isa, premium bonds) are not thanking me. New research from the experts at personal finance site finder. com has revealed the full extent of London’s ‘cost of being single’ crisis.

Singles in London have an average monthly essential spending bill (groceries, rent, etc) of £2,391, compared with a couple splitting the costs, paying £1,314 each. Couples can squirrel away £448 each a month whereas the average solo Londoner can save only £178. When the average deposit for a house is £75,000, a couple could save up in seven years. For a singleton that’s 35 years — practically half a lifetime. And that’s without factoring in that getting a mortgage on just one salary is tough.

This isn’t to say the smug coupled-ups are having a great time of it. There’s the pressure to commit to — and stay within — a relationship to get on the property ladder. The stress of dividing assets if it all goes Pete Tong (especially if you bought with shared ownership). The astounding expense of raising children in the capital. But if any single man or woman in possession of a healthy fortune in want of a wife are reading — do write in. Saving alone is looking lonely.