Being a single person is more expensive than being married
About 50% of people are single, and they sure can’t gain any tax advantages being single (even if they’re common-law partners), than if they were to legally get married.
To see exactly how much they were losing out on, this study: The High Price of Being Single in America, tracked the following situation:
Two single women and two married women of equivalent means. The single women made $40,000 and $80,000, as did their married counterparts.
The two salaries represent relatively middle and high-income levels in Virginia, where 2011 per capita income was $44,700 statewide.
The study also accounted for the fact that women make about $0.78 to every man’s dollar, and that the married women had husbands who earned an income as well.
Lastly, the study only talked about women being single, but I wish they had some numbers on single men as well for comparisons sake.
Our single woman earning $40,000 per year paid $245,000 in income taxes.
Our married woman earning $40,000 paid $206,000 in income taxes—a difference of $39,000.
Our single woman earning $80,000 per year paid $645,000 in income taxes. Our married woman earning $80,000 paid $490,000 in income taxes—a difference of $155,000.
For social security, the benefits became even greater as the married wife would get about $55,896 more just living off her husband’s Social Security.
For health care it would be $24,000 – $48,000 more for a single woman, and for housing, the difference is $763,200.
Elizabeth Taylor, flashing her famous ring given to her by Richard Burton. Via
WHAT DOES IT ALL COST IN THE END?
Their final conclusion for people who stay single in America:
Our lower-earning woman paid $484,368 for being single.
Our higher-earning woman paid $1,022,096: more than a million dollars just for being single.
You can read all the details for their findings here: The High Price of Being Single in America
DISAGREE OR NOT, SINGLE PEOPLE DO PAY MORE MONEY
If you travel alone, you have to pay for the hotel room all by yourself. As a couple, you split the costs!
If you live alone, you pay for the rent/mortgage, utilities and anything that could be shared, all alone. A couple, gets to split the costs.
Of course, as a couple who is not married, taxes are where we would get hit the most in Canada, but it still isn’t nearly as bad as being single and having to foot for all the costs all alone.
Updated Note: Anne made a good point in the comments that common-law and married are treated one and the same in Canada. I had no idea! I’ll have to look into that.
As if it already wasn’t bad enough with the stigma surrounding single folks, especially single women, such as the ones who might be single because they’re too successful.
The only thing that could possibly shine a little cheer on single folks is that they don’t have to worry about dealing with a messy and possibly expensive divorce in case things go sour… which unfortunately does happen about 50% of the time.