Money Box Live: Does Being Single Cost You More?
Summary
More people are living alone, facing a "single supplement" that can add thousands to annual expenses. This episode delves into how being single impacts housing, council tax, mortgages, everyday spending, and significantly affects inheritance tax and retirement savings. Experts and listeners share experiences and practical advice, balancing the financial penalties with the advantages of financial independence and personal control over spending.Episode description
More people are living alone, in fact 3 in 10 households are made up of single adults, according to the latest government figures.
Research from the pension specialist Royal London also suggests single people are more likely to be in their overdrafts at the end of the month and have smaller savings and pension pots than married couples.
Today, we're looking at the impact of the single supplement, from travel costs to inheritance tax thresholds as well as hearing from those very much enjoying their financial freedom.
Joining presenter Felicity Hannah is Sarah Pennells, Consumer Finance specialist at Royal London and Laura Suter, Director of Personal Finance at the investment platform AJ Bell.
Presenter: Felicity Hannah Producers: Sarah Rogers and Helen Ledwick Editor: Jess Quayle
(This episode was first broadcast on at 3pm on Wednesday the 25th of June 2025 ).