93% of Single Americans Feel the Immense Weight of the “Singles Tax”

The Budget Savvy Bride

 New data from Forbes Advisor closely examines how the single life impacts ordinary Americans’ finances and how that affects their view on long-term relationships.

Being single is expensive, and inflation makes it even more so. There are many benefits to living as a couple that leave single people behind financially.

Many Americans are used to paying extra for things that are out of their control, such as the “pink tax” on products with a traditionally feminine aesthetic and the “tall tax” on larger clothing.

According to the Forbes Advisor report, 93% of single Americans feel the burden of the so-called “singles tax.”

Paying the “Singles Tax”

As with most stories of financial difficulties facing typical Americans, inflation stands to exacerbate matters here. Specifically, 59% of the Forbes Advisor respondents say that inflation has made the singles tax even worse than it already was.

The Role of Inflation

Dividing expenses is a significant factor, as multi-income households will likely spend a smaller percentage of their take-home pay on ordinary expenses. 

When Personal Finance Becomes Family Finance

The single adult life can be incredibly fun, with a degree of independence that most others can only dream of. However, that independence comes at a cost.

Overcoming the Singles Tax

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