Society often portrays coupling up as the ultimate goal, but there’s a financial freedom that comes with flying solo. The benefits of being single to save money are numerous and often overlooked. While couples might share expenses, singles have unique opportunities to build wealth on their own terms. According to a 2022 study by the Federal Reserve, single individuals save an average of 23% more of their discretionary income than their coupled counterparts when adjusted for household size.

Whether you’re embracing single life by choice or circumstance, your financial independence deserves celebration. Let’s explore how being unattached can actually be your ticket to greater financial security and freedom.

1. Ultimate Housing Flexibility

When you’re single, your housing options expand dramatically. You’re not limited to finding a place that satisfies two people’s needs and preferences. This flexibility translates directly to your bottom line.

House Hacking Opportunities

Singles can take advantage of creative living arrangements that coupled people often can’t. Consider these options:

• Rent a single room instead of an entire apartment
• Purchase a multi-bedroom property and rent out extra rooms
• Join a co-living space with shared amenities
• Become a property caretaker for reduced or free housing
• Leverage house-sitting opportunities for temporary accommodations

Case study: Alex, a 29-year-old marketing professional, purchased a three-bedroom home and rents out two rooms. His tenants’ rent payments cover 85% of his mortgage, allowing him to build equity while living for a fraction of what his coupled friends pay.

2. Food Budget Freedom

Couples often feel pressure to create “proper” meals every night. As a single person, you have complete freedom over your eating habits and food budget. This flexibility can lead to significant savings.

Cost-Saving Food Strategies

When you’re cooking for one, you can:

• Eat simple meals when you want (cereal for dinner? Why not!)
• Batch cook and freeze portions to prevent food waste
• Take advantage of single-serving deals and smaller packages
• Shop exclusively for your own preferences, not compromising on expensive items
• Eat on your own schedule, potentially reducing impulse food purchases

According to the USDA, the average single person spends $59-$91 weekly on groceries, while couples spend $137-$196—more than double the individual rate. By implementing strategic meal planning, singles can reduce this even further.

3. Freedom From Partner’s Debt

One of the most significant financial benefits of being single is that you’re only responsible for your own debt and credit history. When couples merge finances, they often inherit each other’s financial baggage.

The Single Advantage

As a solo financial manager, you:

• Only manage your own debt repayment strategy
• Maintain complete control over your credit score
• Avoid the financial stress that debt disagreements cause in relationships
• Can aggressively pay down debt without negotiating priorities
• Make financial decisions without considering another person’s credit history

A 2021 survey by Finder.com revealed that 34% of Americans wouldn’t date someone with significant debt. As a single person, you can focus on improving your own financial situation without the potential burden of a partner’s debt.

4. Complete Control Over Spending & Saving

Money disagreements rank among the top reasons couples argue. As a single person, you have 100% control over your financial decisions, from daily spending to long-term saving goals.

Financial Autonomy Benefits

This complete control allows you to:

• Set ambitious savings goals without compromise
• Implement extreme budgeting methods if desired
• Make quick financial decisions without consultation
• Align spending perfectly with personal values
• Adjust financial plans immediately when circumstances change

Financial planner Maya Rodriguez notes: “My single clients often reach savings goals faster because they don’t need to negotiate priorities or spending habits with a partner. They can be as aggressive or conservative as they want with their money.”

5. More Time for Side Hustles

Relationships require time investment. As a single person, you can redirect that time toward income-generating activities. The gig economy offers countless opportunities to boost your earnings on your own schedule.

Popular Side Hustles for Singles

• Freelance work in your professional field
• Driving for rideshare or delivery services
• Renting out a spare room on Airbnb
• Creating and selling digital products
• Offering services on platforms like TaskRabbit or Fiverr

A 2023 Bankrate survey found that 45% of Americans have a side hustle, with single individuals 1.7 times more likely to have multiple income streams compared to married counterparts. The average side hustler earns an additional $810 monthly—funds that can significantly accelerate financial goals.

6. No Wedding Expenses

The average American wedding now costs over $30,000—a significant expense that singles can redirect toward wealth-building. This isn’t just about avoiding the big day’s costs; it’s about the opportunity to invest those funds instead.

The Investment Alternative

Consider this: If you invested $30,000 at age 30 instead of spending it on a wedding, with an average annual return of 7%, you’d have approximately:

• $59,000 by age 40
• $116,000 by age 50
• $228,000 by age 60
• $448,000 by age 70

Beyond the ceremony itself, singles also avoid the costs of engagement rings, honeymoons, and anniversary celebrations—all funds that can be directed toward financial independence instead.

7. Geographic Freedom for Cost Optimization

Singles have unparalleled geographic mobility. Without needing to consider a partner’s job, family ties, or preferences, you can relocate to areas with lower costs of living or better career opportunities.

Cost-Saving Relocation Strategies

As a single person, you can:

• Move to states with no income tax (like Florida, Texas, or Wyoming)
• Relocate to countries with lower costs of living while working remotely
• Choose neighborhoods based solely on affordability rather than school districts
• Take advantage of rural incentive programs offering relocation bonuses
• Move quickly for job opportunities without family negotiations

Digital nomad Emma Chen shares: “After my company went remote, I moved from San Francisco to Portugal. My cost of living dropped by 65%, while my quality of life improved dramatically. As a single person, I made this decision in a week—something that would have been impossible with a partner.”

8. Freedom to Purchase Used Items

Singles have complete freedom to furnish their homes and lives with secondhand items without needing to consider a partner’s preferences or objections. This flexibility can lead to substantial savings on big-ticket items.

Top Categories for Used Purchases

• Furniture (save 70-90% off retail prices)
• Electronics (save 40-60% buying previous generation models)
• Exercise equipment (often available at 80% discounts)
• Kitchen appliances (save 50-75% buying gently used)
• Books, media, and entertainment (save 50-90% buying used)

Financial coach Jordan Lee explains: “Many couples compromise by buying new items when one partner objects to secondhand goods. Singles can embrace thrift shopping, Facebook Marketplace, and estate sales without judgment, often furnishing entire homes for what couples spend on just their living room set.”

9. Freedom to Set Extreme Financial Goals

Singles can pursue ambitious financial goals without compromise. Whether it’s extreme saving, aggressive investing, or unconventional financial strategies, you have complete freedom to chart your own course.

Ambitious Financial Strategies for Singles

• FIRE (Financial Independence, Retire Early) with 50%+ savings rates
• Minimalism to drastically reduce consumption and expenses
• House hacking to eliminate housing costs entirely
• Digital nomad lifestyle to arbitrage global cost differences
• Career sabbaticals for education or entrepreneurship

Tyler Kim, who achieved financial independence at 38, shares: “Being single allowed me to live on 30% of my income for seven years. I could make decisions that would have been impossible with a partner—like living in a converted van for two years to maximize savings. That freedom accelerated my path to financial independence by at least a decade.”

10. Special Scholarship and Grant Options

For single parents or individuals returning to education, there are unique financial aid opportunities not available to married couples. These programs recognize the financial challenges of pursuing education without a partner’s support.

Financial Aid Advantages

• Single parent-specific scholarships and grants
• Higher eligibility for need-based financial aid (based on one income)
• Specialized programs for “non-traditional” students
• Tax benefits for education expenses as head of household
• Flexible online program options designed for working singles

Education counselor Patricia Mendez notes: “Single applicants often qualify for more financial aid because their household income is lower than dual-income households. I’ve seen single parents receive full-ride scholarships that would have been unavailable if they were married, due to income thresholds.”

Budget Comparison: Single vs. Coupled

This comparison illustrates how singles can optimize their expenses across various categories. While couples do share some costs, singles have greater flexibility to minimize expenses in ways that couples often cannot.

Embracing the Financial Freedom of Single Life

Being single isn’t just a relationship status—it’s a financial opportunity. The benefits of being single to save money extend far beyond avoiding the cost of dates or gifts. It’s about having complete autonomy over your financial decisions, the flexibility to optimize your living situation, and the freedom to pursue ambitious financial goals without compromise.

While society often emphasizes the financial advantages of partnership, single life offers unique opportunities to build wealth on your own terms. By leveraging the strategies we’ve discussed—from housing flexibility to side hustle potential—you can create a financial foundation that supports whatever future you envision, whether that includes partnership or continued independence.