Though undoubtedly one of the best tracks of the noughties, JLo’s Love Don’t Cost a Thing came before a time when we knew the real costs associated with being in a relationship.
Now, though, there’s no doubt in our minds — particularly after a new study was able to offer concrete evidence as to how much our love lives were really setting our bank balances back.
According to findings from Lloyds Bank in the UK, being part of a couple can set us back an eye-watering £3,600 (AUD $6,918) a year.
On a mission to debunk the myth of the ‘single’s tax’, the bank surveyed 4,000 single people in the UK.
Their research concluded that 60% of participants had chosen to stay single — 66% being women and 53% were men — with independence and the desire to avoid relationship troubles cited as the main reasons to maintain a single status.
Using data from the Office for National Statistics (ONS), researchers were also able to conclude the biggest monetary drain on people in relationships compared to single people were the costs of living.
The average single person spent £300 less on living costs per week (or £3,600 a year) than those in relationships.
A 2013 article from NY Magazine’s The Cut looked into the hidden costs of being in a relationship — monetary, physical and emotional.
According to the publication, one such humorous cost coupled-up folks have to be concerned with that singletons don’t is buying gifts for friends you don’t like.
“People in relationships have to go halfsies on wedding gifts, baby shower gifts, hostess gifts, and restaurant dinners for people who aren’t really your friends. They’re your significant other’s friends. And really, they should be paying you for the pleasure of your company,” the article reads.
Another, and perhaps the most taxing cost of all, is the impact relationships have on your ability to sleep. Whether it’s a snoring partner or sleep-deprived toddler crawling into your bed at night, the price of losing sleep is surely the greatest cost of all.