Being single can lead to higher expenses in various aspects, from everyday costs to savings and benefits, compared to being in a relationship where financial responsibilities are shared.

For example, covering 100% of the expenses to keep a roof over your head, the lights on, the fridge stocked, and the water heater in good condition tends to be more costly than splitting these costs with a partner.

While there are many advantages to being single, such as having full autonomy over your life without commitments, it’s important to recognize that this freedom can come with additional expenses.

Here are some specific ways in which being single can result in financial disadvantages, along with some suggestions to minimize them.

You’ll Likely Pay More for the Basics

It’s evident that covering 100% of the expenses to maintain a roof over your head, keep the lights on, the fridge stocked, and the water heater in good working condition will be more costly than sharing these expenses with a partner.

This difference is even more noticeable when you consider that you and your partner may not be looking for a house or lifestyle that’s twice as expensive as what you currently have.

The same principle applies to situations like making a down payment on a house, buying furniture, appliances, and household items. In addition to splitting these costs, couples who choose to get married often receive financial support in the form of gifts and money from wedding guests.

You Don’t Have a Financial Safety Net

If you’re single and lose your job, you lose 100% of your income. On the other hand, if you live with a spouse or partner who also works, you only lose part of the household income.

In other words, you won’t have anyone to support you while you’re looking for another job or trying to start your own business. The same applies to dealing with any other financial disruptions in life, such as a medical issue that prevents you from working.

This is why financial planners generally recommend that heads of households have six to twelve months’ worth of expenses saved for emergencies, in case they face job loss or large, unexpected expenses, in addition to having comprehensive disability insurance that can replace a large portion of their income.

You May Be Charged Extra on Group Trips

Traveling alone can sometimes cost more if you opt for a group experience or retreat.

This is because you might face an additional charge, meaning you’re paying a higher per-person rate than two travel companions registering as a couple.

While it may seem unfair, Yves Marceau, vice president at G Adventures, which offers small-group adventure tours, explains that the reason for this is that the per-person cost of the total package is tied to negotiated room rates based on double occupancy.

For example, if a negotiated rate is $200 per night, the package cost for each member of a couple assumes each person will pay $100 per night for accommodation.

That’s why solo travelers may be charged a supplement to cover the additional cost of using a room priced for two.

“Most of the time, operators don’t profit from the single supplement. But they charge it to cover costs,” Marceau explained.

Some operators, like G Adventures, will offer you the option to share a room with another solo traveler of the same gender, if you wish, to avoid the extra charge. However, not all operators offer this option, he noted.

Another way to avoid the supplement is to ask if single rooms are available.

You’re More Likely to Fall Short on Retirement Savings

When they retire, single women—including those who are divorced or widowed—have a retirement savings gap three times larger than their married counterparts, according to the Employee Benefit Research Institute.

This gap measures how much more money a person needs to cover basic expenses like housing, food, transportation, clothing, and healthcare.

There are several reasons for this gap, including lower wages over the course of a career.

But a key issue for those who are single and have never married is that they don’t have the same opportunity to save as much as a couple, noted Craig Copeland, director of wealth research at EBRI.

“As a single person, you can only save up to a certain point, whereas a couple can save more in tax-deferred accounts, and each can reach the maximum,” he explained.

For example, in a dual-income household, assuming both have access to employer-sponsored retirement plans, each spouse can save up to the annual maximum in their tax-deferred 401(k) plans at work.

Currently, that maximum is $20,500.

Additionally, Copeland noted, if a couple divorces, the spouses usually split the retirement savings they accumulated during the marriage. Adding it all up, a couple can save more.

But Being in a Relationship Doesn’t Mean Financial Stability

Being in a relationship doesn’t mean your financial life is automatically settled. Dating can be expensive due to costs associated with outings and social activities, gifts and romantic gestures, romantic trips, personal grooming, and social pressures and expectations.

These expenses can vary depending on individual preferences and the stage of the relationship, but it’s important to be aware of how they can impact personal finances and make conscious choices when managing spending during dating.

When dating someone, it’s common to go out for dinner, see movies, attend events, or engage in other leisure activities. These outings often involve costs like tickets, restaurant meals, drinks, transportation, and other related expenses. Depending on the frequency and type of activities chosen, these costs can add up quickly.

Many people like to express their affection through gifts and romantic gestures for their partners. This can include presents on special occasions like birthdays and holidays, as well as spontaneous small gifts to show love and appreciation. Buying presents, flowers, chocolates, and other tokens can represent a significant cost over time.

Some people may feel pressured to spend more on personal care, such as new clothes, beauty treatments, gym memberships, and skincare products, when they start dating someone. They may want to impress their partner and feel confident in their appearance, which can lead to additional expenses compared to when they were single.