Single people tend to spend more and save less than their married peers. A published paper delineates the differences between these two groups. Married couples spend $1,423 a year on restaurant meals while single people average $2,057. Singles spend $660 on alcoholic beverages while married people only spend $227. Meanwhile, only half of singles under 55 had any savings at all compared with 62.2 percent of couples. There are several ways to keep from digging a deep financial hole by this reckless spending behavior. This article lists several strategies for single people to keep their spending habits in check.
Read the rest of the article here: Spending Now and Saving Later are the Financial Hallmarks of Singles
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.