New CouponCabin.com Survey Reveals The Cost of Being Single
-- Forty-Two Percent of Single U.S. Adults Feel More Financially Strained Than Married Peers --
- Singles Report They Pay More in Taxes and Spend More on Social Obligations Than Married Peers
- Marrieds Report They Have Higher Household Expenses and Less Workplace Flexibility Than Single Peers
WHITING, Ind., Jan. 9, 2013 /PRNewswire/ -- Does it cost more to be single than married? According to a new CouponCabin.com survey, the grass, or more likely the money, is always greener on the other side. More than four-in-ten (42 percent) single U.S. adults report they feel more financially strained than their married peers, while 35 percent of married U.S. adults said the same of their single counterparts. This survey was conducted online nationwide by Harris Interactive on behalf of CouponCabin.com from December 19th to December 21st, 2012, among 2,132 adults ages 18 and older.
When it comes to government issues, such as federal income taxes, singles think they pay more than marrieds. More than half (51 percent) of single U.S. adults feel they pay more in federal income taxes than their married peers, compared to 46 percent of married U.S. adults who said the same of their single counterparts.
Household expenses are an area where marrieds feel they get the short end of the financial stick. More than six-in-ten (62 percent) married U.S. adults agree that their household expenses are greater for them than for their single peers. Only 29 percent of singles said the same of their married peers.
Sometimes, household expenses can be so high that adults are forced to make tough decisions. Fourteen percent of U.S. adults report they have stayed in a relationship or a living situation with someone purely due to financial reasons.
"No matter what your relationship status, there are financial challenges that exist for everyone," said Jackie Warrick, senior savings adviser at CouponCabin.com. "The important thing is to measure yourself against your own yardstick; your own goals, your own risks and your own challenges. Focus your energy on how to better your financial situation rather than lamenting other's fortune."
Married and single U.S. adults also have different views on how much money they are able to save for the future. With typically higher household expenses, 48 percent of married U.S. adults agree they are able to save more money than their single peers because of their combined earning power. More than half (51 percent) of single U.S. adults agree they are able to save more money than their married peers because they don't have the same financial responsibilities.
While there are many studies that report that married employees may receive more flexible work arrangements, more singles said their workplace was more flexible for them than their married colleagues. More than one-third (34 percent) of singles agree that their workplace is more flexible for them than it is for their married co-workers. Just 24 percent of marrieds said the same of their single counterparts.
Sometimes, the requirements of being friends with married couples can cost singles an arm and a leg. Of those single U.S. adults with married friends, 17 percent feel they spend more on gifts and special occasions for their married counterparts and their families than is reciprocated.
When asked how much on average they spend per year on their married friends and their families, single U.S. adults who spend any money on gifts or occasions for their married friends and their families said the following:
- $200 or less – 65 percent
- $201 - $500 – 24 percent
- $301 - $499 – 4 percent
- More than $500 – 11 percent
In addition, 29 percent of single U.S. adults often feel pressure to spend money on "single" obligations like going out to dinner, going to bars and buying the latest trendy clothes.
This survey was conducted online within the United States by Harris Interactive on behalf of Coupon Cabin from December 19th to December 21st, 2012, among 2,132 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Allison Kaplan, firstname.lastname@example.org.
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