Marriage is not only about living the rest of your life with the partner of your choice, not getting married has some costs and business implications too. Like most business mergers, it creates synergies. It creates financial stability; the emotional stability only incidental to it. Getting married, therefore, is a perfect business case, both for men and women.
Having to carry the full burden of a mortgage, holiday costs, insurance premiums and utility bills all adds up, according to the study by uSwitch, the price comparison website. According to the survey reported by the Daily Telegraph, the annual premium for being single is £4,794, which between the ages of 22 to 75 adds up to £254,082.
Even tax can be more costly, on a per-person basis, for singletons. Although those living alone are entitled to a 25 per cent reduction on their council tax, the survey indicated that the average amount spent on council tax by a single person each month is £90. A couple spends an average of £126. This suggests the premium for single people £27 a month, or £324 a year.
As people marry later and live longer, the number of single person households is expected to increase by over 2 million within the next 10 years. This would be on top of the seven and a half million who are already so, according to the ONS.
The study highlights that not only do house-builders need to change the types and number of homes they are building, but many consumer companies need to consider changing their charging policies. Most hotel companies charge on a per-room basis, rather than on a per-person basis, for instance.
Ann Robinson, director of consumer policy at uSwitch.com, said: “Increasingly we are seeing evidence that to enjoy a good quality of life in Britain, a household needs two incomes.
“Those who live alone face a range of disadvantages including meeting household bills single-handed and having to pay a surcharge on holidays.”