Why Singles and Couples Envy Each Other, Financially Speaking
A new study found that each group thinks the other has it better when it comes to level of financial strain, household expenses, and taxes.
Kecia Lynn has worked as a technical writer, editor, software developer, arts administrator, summer camp director, and television host. A graduate of Case Western Reserve University and the Iowa Writers' Workshop, she is currently living in Iowa City and working on her first novel.
What's the Latest Development?
A study of over 2,100 adults by the couponing site CouponCabin reveals that for both single and married consumers, the grass is believed to be greener on the other side. Forty percent of single adults and 35 percent of married adults said they were under more financial strain than their counterparts. A majority of married participants believed they had larger financial expenses, while more than half of the single participants said they had it worse when it came to federal income taxes.
What's the Big Idea?
Both groups believed they were able to save more money for the future: singles because of fewer financial responsibilities, couples because of combined earning power. In addition, 17 percent of singles said they spend more money on gifts for married friends than they receive, and 29 percent said that they feel pressure to spend on dinners, drinks, and other items associated with the "single life." Ultimately, says CouponCabin adviser Jackie Warrick, relationship status doesn't matter: "Focus your energy on how to better your financial situation rather than lamenting [others'] fortune."
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