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I always read that the opposite was true. Married folks are one average richer than single folks.
Quote:
Originally Posted by boxus
They are idiots also.
Past the "relationship" meaning in the article; there is more access to funds with two people than with one person. This is the basics of building wealth. A married couple making combine $150k a year will build more wealth than a single person making $75k a year, all other things equal.
Quote:
Originally Posted by BIMBAM
That's rubbish. Splitting the rent and groceries alone saves alot of money. I sure wouldn't be wealthier if single.
Yep, pretty much most people are better off in marriage... especially if there are two incomes (and you are splitting the cost of housing, utilities, and similar expenses. Not to mention pooling financial risks and tax benefits).
But it's not a universal rule... while it's true of most people, it's not true of all. I think I am one of the exceptions. In my case, I used to be married to a spendthrift who wanted to "keep up with the Jones," have a bigger house than his friends, buy fancy new cars all the time, and thought nothing of getting more credit cards when the ones he was using were maxed out.
The day after the divorce was finalized, I was much worse off financially than I was the day before we married--I'd moved "backwards" during the marriage and was at the lowest point financially in my life (even post college with my student loan debt). It took me years to dig out from the debt he built up for both of us and start rebuilding my finances... which I am happy to say I am doing Now I'm back on track and my net worth is positive and am at an all time financial high in my life that keeps going up.
The potential easily exists for a couple to be better off financially than if the individuals were single. Now of course, there is a spectrum in real life with tons of anecdotal examples and situations where there will be varying truth to this generality.
Still, being able to leverage the costs of necessities and basics across two incomes cannot be denied.
They *believe* this (they are wrong) because savers marry spenders. Therefore half believe it's costing them to be in the relationship, the other half know the opposite to be true.
Auto insurance is one, health insurance could be two I am sure you could come up with many more if you took a bit to think about it
How much do you save on these?
I suppose I might also add that if you're married, you have the advantage of "household labor specialization" which could also save money, but I can't give numbers because I have zero firsthand experience when it comes to marriage.
Nothing mysterious about it - food packaged in smaller portions costs more per serving.
Ok, true, hence what I said in post #16. A single can get these savings too by buying larger packages and refridgerating leftovers, but of course many wouldn't actually do it - and wasted food is wasted food.
The potential easily exists for a couple to be better off financially than if the individuals were single. Now of course, there is a spectrum in real life with tons of anecdotal examples and situations where there will be varying truth to this generality.
Still, being able to leverage the costs of necessities and basics across two incomes cannot be denied.
Some of the necessities and basics, not all. Having two incomes is only an advantage insofar as there are some costs for two that are less than twice the cost for one. This is really the crucial point - the savings, where they exist, are due to economies of scale.
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Now I'm back on track and my net worth is positive and am at an all time financial high in my life that keeps going up.
