People in Relationships Are More Financially Stable Than Singles

Here’s Why!

In a recent study, the Sofi Learn survey found that people in a relationship saved three times as much as their single, divorced, and widowed counterparts.

The median savings of married people was $300, whereas that of singles was only $100. That doesn't mean that there are no financial cons to being married.

It's just that there are a few proven financial perks for married people that are worth highlighting. Here are some ways couples may have been able to save this much just by living together.

Most taxes and deductions have higher income thresholds for joint filers. This means they can often make more money and still possibly qualify for tax breaks.

Less Tax

Moving in with your significant other can improve savings because you pay the bills together, which lightens the financial burden. Sometimes, a new place for a couple can cost less compared to an apartment for singles. You can begin to use things as a team.

Bill Splitting

Live-in Couples save a significant amount with fewer dates. Americans spend an average of $700 annually. Homemade dinners, “Netflix and chill,” are good alternatives for live-in couples instead of movie nights and dinners that could cost an arm and leg.

Fewer Dates

The only people who can receive spousal support and survivor payments are married people. Married ones who haven't worked long enough to qualify for social security benefits can take advantage of their spouse's employment history.

Retirement Benefits

Being in a partnership can aid in developing mutual accountability. Couples with the same financial vision can create and work toward financial goals, thus benefitting from teamwork.

Shared Goals

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