Dubai: It’s an old debate whether people who are married are financially better off than those who are single.
If findings of a new research were to be believed, both men and women who have not yet tied the knot have one more reason to smile about: their pockets seem to be better off.
Analysis by price comparison website Confused.com showed that married couples tend to spend Dh13,000 (£2,340) more a year compared to their single peers.
In terms of living costs, for example, couples spend a little over Dh1,000 a month more than those who are going solo - couples spend, on average, Dh5,600 a month, more than double the Dh4,500 monthly expenditure by single consumers.
When it comes to household costs, such as rent, mortgage, bills, the married ones spend Dh3,000 more a month.
Those who are hitched appear to be wining and dining more, with their monthly socialising expenses reaching Dh807 compared to Dh779 for those who are single.
“It might surprise people to note that being in a relationship seems to cost more than being single – despite having someone to split costs with,” said Nerys Lewis, head of credit cards at Confused.com.
The findings are based on the responses of 2,000 adults in the United Kingdom collated between April 22 and 27, and May 27 and May 29 this year, but consumers in Dubai can relate with the results.
The reason for the difference in expenditures is that people's needs and lifestyle change when they get married. Spending also multiplies when children are added into the picture.
"Primarily, the change in lifestyle causes higher expenses. As single, people are happy living in a shared accommodation or suburbs, but as a couple, they are more conscious of their standard of living, and that's the primary cause for the hike in rent/ mortgage spending," said Preeti Bhambri, managing director of personal finance website MoneyCamel.com.
"There are certain living expenses that singles don't bother about, but couples have to incur such as furniture and decor, house appliances kitchen ware."
Some, however, believe that a union can help ease the financial burden faced by individuals, considering that two people, provided they both have stable jobs, contribute to the household budget.
With the husband and wife generating a regular monthly income, there are more opportunities for saving for a house purchase, future holiday, emergency or retirement.
“I think I’m able to save more money now than when I was single since my spouse also earns a month. When we pool our incomes together, it’s so much bigger than what I used to bring home compared to the days when I was not married,” said Nelson, an expat based in Dubai.
However, when Confused.com’s respondents were asked to take a look at their own spending habits, nearly half (48 per cent) of those who have a husband or wife admitted that they do spend more money on eating meals outside, while a smaller proportion (37 per cent) of single consumers shared the same view.
People in a relationship don’t usually sit around during their days off, with 19 per cent of them saying they spend their money on weekends away, compared to 13 per cent of single people who said they do the same.
When it comes to maintaining their weight, the couples incur bigger expenses as well, with one in seven (15 per cent) saying they shell out more money on gym memberships, compared to just under one in 10 (8 per cent) single consumers.
Overall, only a fewer people in a relationship (16 per cent) think they open their wallets less when they have a partner, while nearly a third (31 per cent) of single people think they spend more money when they have a spouse. About 19 per cent of unmarried respondents also feel that being single is less expensive because they are not obliged to buy presents for a partner.
