Based on my personal experiences, and those of people in my community, I had long suspected this was not a small additional cost, but a prohibitive one. Now, thanks to analysis by financial services provider Hargreaves Lansdown, we have evidence that there really is a single penalty.
Something about this research made my jaw drop. How depressing, I thought. This was quickly followed by a feeling of relief. My coupled-up friends essentially have £10,000 extra a year to play with. No wonder I can’t afford holidays abroad. No wonder I am finding it hard to save for a house: It’s not because I’m bad with money. It’s because I have a hell of a lot less disposable income than most of my friends.
The topic of personal finance has long been a concern in the Facebook group I run and that worry has only increased during the cost of living crisis. Readers of my newsletter tell me about catastrophic gas bills, receiving no-fault evictions, and the struggle to find an alternative and affordable place to rent when they’re forced to leave.