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Couples 'find it easier to save money'

Published: Monday, 17 November 2008   Category: Life after graduation

Graduates living on their own may need to conduct a review of their personal finances, it has been suggested.

According to David Kuo, head of personal finance at Fool.co.uk, saving is "much easier" for people who are living as a couple and many single professionals often struggle to save effectively.

He suggested both men and women needed to look at their finances and assess whether they are actually saving money at the moment.

Mr Kuo stated: "If you prepare yourself a household budget, you will find that many of the things out there are unrelated to how many people actually use those services.

He claimed that with rent, council tax and other bills to pay, individuals living alone were likely to be spending twice as much as couples on living expenses.

Interestingly, in a poll conducted by YouGov on behalf of the Skipton Building Society, 90 per cent of single men surveyed said they would avoid romantic commitments due to the economic downturn.

Some 47 per cent said they would be spending more money than at present if they were in a relationship.

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