Is It True That Singles Have More Money?

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seoulsearch

OutWrite Trouble
May 23, 2009
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#1
Hey everyone,

A post in another thread made me want to ask this question. I'd like to start off by saying that OF COURSE I know each situation is different and in some cases, a single might have more disposable income, and in other cases, someone else may not. It's highly individual.

But here are the questions I found myself wanting to ask:

* When were you in the best place financially? When you were married, in a relationship, or single?

* How did changing from one state to another (single to taken or taken to single) impact your finances?

* Has your marital (or non-marital) status influenced the way you handle money? (For instance, does a single without a family feel less pressure to take on a high-stress promotion?)

* If you are single, how does the hope for marriage and a family impact your financial planning? (Do you save for a future ring, wedding, or family?)

I can say that for myself, I am in a much better place as a single, only because when I was in relationships, I was very young (starting at about age 17) and for some reason, always chose guys who loved to spend money and never thought about how they'd pay for real life. Of course, back then, we were also at the beginning of living as independent adults and learning how to handle money.

My first boyfriend was a wonderful person but when he got his first place, all his bills wound up being due around the same week. If it was any other week of the month, for some reason, he saw himself as having no bills and would spend all his money on whatever he wanted. When "bill week" did come around, he tried to cover everything with only one check (which, of course, was impossible) and was always falling short.

I was living in various places (with family, then in a dorm) going to school and working a lot, and because we were talking about getting married, I was always trying to help him cover his bills. I felt I had to.

This has been a hallmark throughout my relationships.

I don't need someone who has money. I just need someone who knows how to handle it responsibly. I know everyone's situation is different, but for myself, I know I'm much more at peace financially because I am only trying to cover one set of bills instead of two (another relationship that involved children meant paying for an entire family as well.) I am also someone who, in general, likes to work and would probably feel a bit useless without a job (BUT THIS IS JUST ME--I am certainly NOT speaking for anyone else.)

Everyone is built differently. And, I grew up in a family of stay-at-home mothers, which I know is a 24/7 job in itself.

This is also an interesting topic when we talk about God's roles of Leadership within Marriage.

* Should a man expect when he goes from being single to being married that he will pay for most everything?

* Should a woman be expected to cover at least 50% of the bills?

* Does a "traditional" marriage mean the man works and the wife stays at home?


Of course, I'm not expecting everyone to answer all of these questions (though you are welcome to!);) But I would love to hear any thoughts that came to your mind as you read them. :)
 

Lynx

Folksy yet erudite
Aug 13, 2014
26,712
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#2
I certainly don't have more money... But I work at a fast food factory.


About paying bills, I think I'm the direct opposite. Sometimes when I can I pay bills that will not be due until next paycheck, so when next paycheck comes I won't have to worry about them. Sometimes I get up to a month and a half ahead, because it feels good!
 
Sep 6, 2013
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#3
* When were you in the best place financially? When you were married, in a relationship, or single?

I was in the best financial situation as a single person.

* How did changing from one state to another (single to taken or taken to single) impact your finances?

Changing from married to single changed my situation drastically for several reasons.

1. I received enough money when my ex bought my half of our home to become debt free. I have only my mortgage and living expenses to pay for now.

2. I was/am able to make financial decisions on my own to improve finances, such as not eating out a lot, not buying expensive items we didn't need, and canceling services like Dish Network or our home phone service.

 

seoulsearch

OutWrite Trouble
May 23, 2009
16,242
5,211
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#4
2. I was/am able to make financial decisions on my own to improve finances, such as not eating out a lot, not buying expensive items we didn't need, and canceling services like Dish Network or our home phone service.
Many kudos to you Grace! I enjoy talking to people about how to live on less without going too crazy (if you ever catch me looking at the birds, frogs, and rabbits in my neighborhood with a menu in my hand, PLEASE STOP ME.)

I don't eat out much either, have a cheap, basic phone from Wally's World (I have no need for a smart phone and my service plan is $35 a month), no landline phone, and wouldn't even have cable except that out here, a basic package in order to have access to high-speed internet (admittedly, I do splurge for that. I had dial-up for the LONGEST time.)

There are many times I've thanked God I'm single because I'm not arguing with anyone about money (except myself, which I'm known to do...)
 

jb

Senior Member
Feb 27, 2010
4,940
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#5
Is It True That Singles Have More Money?
Generally I think "yes they do", but I also think it depends on your income bracket as well...
 

seoulsearch

OutWrite Trouble
May 23, 2009
16,242
5,211
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#6
Generally I think "yes they do", but I also think it depends on your income bracket as well...
Very true, jb.

In college I had a friend who was one of 4 girls in their family. Their father was some kind of executive knocking down a 6-figure income. Their mother was a stay-at-home mom with a high school education--she had given up the pursuit of a career to raise their girls.

The father had an affair with his 20-something secretary that he didn't intend to end, and announced to his wife that because he brought in the money, she would just have to accept that.

She told him, "Then I will take our girls and raise them on my own." Which is exactly what she did. And out of spite, the father refused to help with anything. This woman raised her 4 daughters alone, including putting them through college.

I can't imagine what kind of courage that took. I have only the highest level of respect for anyone, man or woman, with that much determination.
 
C

CarolSampaio

Guest
#7
Generally I think "yes they do", but I also think it depends on your income bracket as well...
That is true... I had a better financial situation when I was married, cause his income was twice bigger than my own... and we could share the expenses that are one for a household whether there's one or five living in it, like mortgage, cleaning services, internet, and such....

But even though I've had to tone down a little, I believe you can have a pretty good life on only one income... you just need to find the right balance...
 
F

Fladreaming

Guest
#8
I am doin better on my own. My last girlfriend liked to spend. Always saying that i made twice as much as her. Then when it came to saving money she would say i make xx amount of money and should be saving more. Catch 22. Of course my fault as well for kind of falling into that position. I would like to find someone where consolidating funds would help us to grow financially but money is not high on my list for a life long love.
 

mailmandan

Senior Member
Apr 7, 2014
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#9
I've been married for a long time and my wife is good at saving money. Bless her heart! :eek:
 
C

CarolSampaio

Guest
#10
I am doin better on my own. My last girlfriend liked to spend. Always saying that i made twice as much as her. Then when it came to saving money she would say i make xx amount of money and should be saving more. Catch 22. Of course my fault as well for kind of falling into that position. I would like to find someone where consolidating funds would help us to grow financially but money is not high on my list for a life long love.
And it shouldn't be... but I think it is important to find someone with the same or similar points of view regarding money, or it can become and will probably become an endless source of stress....

I think.... :)
 
S

ServantStrike

Guest
#11
And it shouldn't be... but I think it is important to find someone with the same or similar points of view regarding money, or it can become and will probably become an endless source of stress....

I think.... :)
One of the number one reasons why marriages break up is money. It's as important as picking someone who isn't an adulterer.
 
Jul 25, 2015
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#13
I am and have always been better off single because I make an effort to live within my means and be financially responsible. I enjoy saving money and contributing to my retirement account. I agree with SS that people should discuss their financial values more or at least keep it in the top 5 of discussion topics prior to committing to someone.

Being in a relationship with someone who is irresponsible with their money and/or yours is so much more stressful than imaginable unless you experience it.
 

Mo0448

Senior Member
Jun 10, 2013
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#14
I am and have always been better off single because I make an effort to live within my means and be financially responsible. I enjoy saving money and contributing to my retirement account. I agree with SS that people should discuss their financial values more or at least keep it in the top 5 of discussion topics prior to committing to someone.

Being in a relationship with someone who is irresponsible with their money and/or yours is so much more stressful than imaginable unless you experience it.
Agreed...last thing you want to do is be married to someone who has a very different viewpoint on money and finances than you do...
 

Mo0448

Senior Member
Jun 10, 2013
1,209
15
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#15
Agreed...last thing you want to do is be married to someone who has a very different viewpoint on money and finances than you do...
To add...it's one thing to be wise with your money and another entirely to be a scrooge...as the other extreme its one thing to spend money having the means...versus living beyond your means and paycheck to paycheck not that some people don't live paycheck to paycheck because they overspend...do yall get what I mean? "They" say (they being economists consensus etc...one should have approximately 60% of their yearly pay saved up in cause of any emergency that requires you to not be working or losing a job. One should be able to maintain a "on the hunt for a job" routine for 6 months...it's all suggestions and hearsay but I mean it does make sense.
 
Jun 23, 2015
1,990
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#16
I am doin better on my own. My last girlfriend liked to spend. Always saying that i made twice as much as her. Then when it came to saving money she would say i make xx amount of money and should be saving more. Catch 22. Of course my fault as well for kind of falling into that position. I would like to find someone where consolidating funds would help us to grow financially but money is not high on my list for a life long love.
Ill consolidate but only if you sign a prenup. winky winky
 

seoulsearch

OutWrite Trouble
May 23, 2009
16,242
5,211
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#18
Agreed...last thing you want to do is be married to someone who has a very different viewpoint on money and finances than you do...
It is just me, or does it all seem... rather overwhelming at times?

I mean, not only do we have to find someone we're supposedly attracted to and they're attracted to us, but then you have to find someone who has similar views on:

* faith and how to express it
* doctrine (Does an argument break out every time "Speaking in tongues" is mentioned?)
* family, how many children to have, and how to raise them
* where to live, and how (Renting vs. owning? Country vs. city? Staying in one place forever or moving from here to there?)
* finances and how to handle them

And then, of course, there's "minor" things like diet, fitness, lifestyle, pets, "other" family values (how many times is the mother-in-law on either side allowed to drop by unannounced)... etc. etc. etc.

Talk about... finding a needle in a haystack? I know everything is possible with God. But... every time I wander into the Family Forum, I think about the reality that there seems to be a lot more misses than hits (Are people misinterpreting what God wants for them or do many of us just have a knack for choosing the wrong person?)
 
Jul 25, 2015
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#19
To add...it's one thing to be wise with your money and another entirely to be a scrooge...as the other extreme its one thing to spend money having the means...versus living beyond your means and paycheck to paycheck not that some people don't live paycheck to paycheck because they overspend...do yall get what I mean? "They" say (they being economists consensus etc...one should have approximately 60% of their yearly pay saved up in cause of any emergency that requires you to not be working or losing a job. One should be able to maintain a "on the hunt for a job" routine for 6 months...it's all suggestions and hearsay but I mean it does make sense.
Absolutely concur but being wise with your finances does enable you to be more generous. So many people seem to think only the wealthy can afford to be generous but obviously this is not true. Having 4 months salary saved also takes stress off unexpected events such as losing your job or car repairs etc. To clarify I'm not saying you should never spend money on luxuries or enjoy life but just actually develop and implement a true budget that will empower you to be generous and maximize your "planned spenditures" such as that great trip to Italy you have been saving for! BTW: I have been saving for said trip for 6 years but it involves a 4 week adventure!
 

Mo0448

Senior Member
Jun 10, 2013
1,209
15
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#20
It is just me, or does it all seem... rather overwhelming at times?

I mean, not only do we have to find someone we're supposedly attracted to and they're attracted to us, but then you have to find someone who has similar views on:

* faith and how to express it
* doctrine (Does an argument break out every time "Speaking in tongues" is mentioned?)
* family, how many children to have, and how to raise them
* where to live, and how (Renting vs. owning? Country vs. city? Staying in one place forever or moving from here to there?)
* finances and how to handle them

And then, of course, there's "minor" things like diet, fitness, lifestyle, pets, "other" family values (how many times is the mother-in-law on either side allowed to drop by unannounced)... etc. etc. etc.

Talk about... finding a needle in a haystack? I know everything is possible with God. But... every time I wander into the Family Forum, I think about the reality that there seems to be a lot more misses than hits (Are people misinterpreting what God wants for them or do many of us just have a knack for choosing the wrong person?)
I mean honestly SS it's about finding the balance...like I'll be the first to say my list extends further out than the points you mentioned...which usually gets misinterpreted for being "shallow" but in all reality one should be certain that there will be agreement on the main points or things that are important to the person or else you're going to have those daily arguments all the time and whatnot...I believe though marriage is going to be alot of give and take...and compromise I may not want my ma in law around all the time but I won't mind her dropping by oh idk once a year :rolleyes: