Financial Perks of Relationships

"There are many reasons why people might choose to find a partner, but one that is often overlooked is financial. Economists have shown that being in a relationship typically saves money and increases one's financial standing. In analyses comparing the lifetime net worth of long-term married versus single people, people who were married built a larger and more stable financial foundation."

"When in a relationship, there are two people, which means two incomes. But more income is only half the picture. Many expenses get split between partners in a couple, especially the biggest ones like rent or mortgage. And that's not counting the hundreds of smaller costs like groceries, memberships (such as Costco), streaming services (such as Netflix), or travel costs (such as car sharing in the commute to work or sharing hotel rooms). A significant other means significant savings."

Relationships increase household income by combining two earners and reduce per-person costs by sharing major expenses such as rent or mortgage. Shared living also spreads hundreds of smaller recurring costs including groceries, memberships, streaming services, and travel expenses. Partners help enforce financial discipline by holding each other accountable and reducing the likelihood of budget cheating and overspending. Couples often favor lower-cost shared activities like home-cooked dinners and movie nights over expensive outings. Long-term partnerships typically lead to larger, more stable lifetime net worth and overall savings compared with being single.

Read at Psychology Today