Over Half of Men in a Relationship Think They’d Be Richer Single

Survey reveals 52% of men believe they’d be financially healthier without a better half.

They say that chivalry’s dead, but a new survey by TotallyMoney.com has revealed that more than half of men believe they spend more money in a relationship than they would as a singleton. Dates, gifts, getaways – of the 600 people surveyed, 52% of men currently in a relationship feel that life as a couple is more expensive than going it alone.
Despite the high cost of living alone and of shouldering bills, rent and mortgages solo, almost half of the 300 “loved up” individuals asked by TotallyMoney.com claimed they’d be richer as singletons.
Both gender and age played a big part in the answers to the survey. Men were much more likely to believe that they’d have more money as bachelors. Women were more likely to think they were better off where they are:

  • 52% of men in a relationship believe they’d be richer as bachelors
  • 61% of women in a relationship think they’d be financially better off as they are.
  • Age affected the results as it was largely middle-aged people (35-44) who answered “yes”
  • Meanwhile 68% of single people agreed that they’d be wealthier remaining alone

This data may appear surprising, especially given the current high costs of living alone. Rent, mortgages, bills, food; in the UK, shouldering these expenses alone is a struggle for many individuals who do not live with a partner. Yet still the boys believe they’d be financially better off as bachelors.
But are people really being inundated with expensive gifts and treats from their male partners? Do men really contribute more financially to their relationships in the 21st century? 61% of women who are in a relationship seem to think that may be the case. This significant percentage thinks that they would be richer in their current relationship and poorer alone.
Hearteningly, the gender gap diminishes significantly in younger age groups:

  • 51.6% of men in a relationship aged 24-35 believe they’d be richer in that relationship

In our current economy, sticking together as a young couple looks much more economically viable than going solo. With rents rising and getting on the housing ladder more challenging than ever before, young couples are finding that shacking up comes with plenty of financial incentives.
Above the typical child-rearing age of 35, however, the picture changes. Women are likely to feel financially stable in a relationship, while men are more likely to believe in a more lucrative single lifestyle:

  • 68.8% of men in a relationship aged 35-44 believe they’d be richer alone
  • 50% of women in a relationship aged 35-44 believe they’d be richer with their partner

The survey turned up one unusual variable, which could have women with expensive taste hopping on the ferry to Belfast. Geographic location played a big part in responses to the survey, with Northern Irish men currently in a relationship the most likely to believe they’d be richer alone.

  • 33.3% Scottish men in a relationship believe they’d be richer alone

Find out how much you could save in yearly net worth in a relationship or as a singleton and present your findings to your other half in a smart infographic.

ENDS

Notes to Editors:

TotallyMoney.com, launched in 2007, is the UK’s leading credit-focussed comparison website which sets out to make it simpler for consumers to compare credit cards, loans and mortgages. With a revolutionary approach to credit comparison, TotallyMoney.com uses exceptional comparison tools to empower people to make better financial choices.
This survey was carried out using Google Consumer Surveys between 27/08/2014 and 01/09/2014 using data from a total of 600 participants split 50/50 as being identified as Single or In a Long Term Relationship (6+ Months).
You can see the full survey results at:
Long-Term Relationship Survey Results:
http://www.google.com/insights/consumersurveys/view?survey=n7osmdiotsqwu
Single Survey Results:
http://www.google.com/insights/consumersurveys/view?survey=zkelqw66rfpuw
For more information, such as an embeddable version of the TotallyMoney.com relationship quiz please contact Pete Campbell at pcampbell@totallymoney.com

 

For more information, please contact James McCaffrey

About TotallyMoney

TotallyMoney has been championing fairer and better consumer credit since 2007 by helping customers make smart borrowing decisions. We won Best Free Credit Report Provider in the 2018 Moneynet Personal Finance Awards and, in under 12 months, our Free Credit Report has already put more than 500,000 customers in control of their credit data.

Plus, we pioneered soft searching and eligibility scoring to reduce customers’ risk of being rejected for credit. Our services are designed to simplify personal finance, helping customers improve their credit rating and find the best products to meet their needs. To date, our platform powers the likes of Confused.com, Noddle, and ClearScore to name but a few.