Single Finances

Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Single Finances
10
Sun, 11-13-2005 - 11:09am

Do you feel like you're better off financially being single or worse off than if you were married?

iVillage Member
Registered: 06-02-2005
In reply to: cl_shywon
Sun, 11-13-2005 - 12:04pm
DINKIES are much better off financially.
Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
In reply to: cl_shywon
Sun, 11-13-2005 - 12:31pm

Okay...you knew I was gonna ask this.


What's a DINKY?


iVillage Member
Registered: 11-01-2005
In reply to: cl_shywon
Sun, 11-13-2005 - 1:14pm

Dual Income No Kids.

I think I would be better off attached. There is always at least one income (hopefully) to depend on if something happens with the other's job. An ability to acquire some savings. This ungodly amount of school debt I'm undertaking wouldn't seem as scary.

Getting married for financial security isn't and shouldn't be the only reason to get married though and I'm pretty sure I would be ok financially if I didn't get married.

Rubyshoes

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iVillage Member
Registered: 04-13-2004
In reply to: cl_shywon
Sun, 11-13-2005 - 2:46pm
I feel being sinlge is harder on us more than we think. Think about it, the rent/morgage, utulities, expenses would be cut in half. I don't even want to think about getting a roomate, especially since I have been living alone for five years now. I feel I would have more in savings if I weren't doing it alone. There are trade ups to each senario. Right now, I don't have to answer to anyone about how I am spending my money or where I am going... I can do anything I want without having to answer to anyone..
iVillage Member
Registered: 09-04-2005
In reply to: cl_shywon
Sun, 11-13-2005 - 4:22pm

W/o a doubt, I agree with you. It's been over 40 years since the start of the civil rights movement and women still only earn 75% on average of what men make. You think heteroDINKS have it good, look at the homeDINKS! I would definitely be better off economically, if I were still married to my exDH, but no way in the world would it have been worth it to stay in the relationship for that. The emotional toll was a price too high for me to pay.

That being said, I still believe that the only reason for women to marry is for the socio-economic benefits. If there is a next time for me, tho', I 'll make sure we're more compatible on other levels.

iVillage Member
Registered: 09-01-2004
In reply to: cl_shywon
Mon, 11-14-2005 - 9:56am
I have actually crunched the numbers and life is more expensive for me as a single person but the difference is not as great as I thought it would be. The payments on a 2 bedroom condo in my building, assuming the same percentage of down payment, a 30 year fixed mortgage with the same rate, etc. would be about $1700 per month. Suffice it to say that my payments on my one bedroom are more than half of that by a bit. My health insurance would be cheaper for two (per person), I could get a family rate at the health club, and so on.
iVillage Member
Registered: 09-01-2005
In reply to: cl_shywon
Mon, 11-14-2005 - 12:03pm

I'd love another income to pay half the mortgage, that's for sure.

On the other hand, being the only one who decides where all the money goes is nice.

iVillage Member
Registered: 10-10-2005
In reply to: cl_shywon
Mon, 11-14-2005 - 3:11pm

I would say if both partners in a marriage worked then the married couple would be much better off than any single person they came in contact with in the same job description.

I would definately be better off with a second income. Half the rent, would mean more money freed up to pay down debt, save for a down payment on a house, save for retirement, save for anything in general for both of us I would hope. My housing costs wouldn't go up much if at all (if we didn't move it would drop considerably), utilities shouldn't go up by much. Food bill would get a little bigger, clothing bill would be a bit bigger as well, I would imagine. But that's only if both parties are on the same page, just because someone doesn't have any debt doesn't meant they don't spend every spare penny laying around on junk.

iVillage Member
Registered: 08-09-2004
In reply to: cl_shywon
Mon, 11-14-2005 - 3:57pm
I think the ideal financial situation is where two people are married, working and have no debts. Single can be a financial disadvantage. Also, being married to someone who has to pay child support can be a crippling financial situation. Especially if they have several children.
iVillage Member
Registered: 03-28-2003
In reply to: cl_shywon
Mon, 11-14-2005 - 7:21pm
If I were married and my husband and I kept separate bank accounts and each paid half of the house expenses I would be better off financially because my major expenses in life are house-related; mortgage, property tax, house insurance, electricity, gas, water, sewer, garbage, and other general expenses (repairs, renovations) of the upkeep of the house. Iri