The cost of being single – and how friends are teaming up to beat it

Single life comes with a hidden tax, requiring couples to pay more for various expenses. The cost of rent, mortgage, bills, and subscriptions can't be split, and discounts often require partnership. With over 18 million unmarried people in the UK, the need to share expenses is more prevalent than ever.

Leanne and Sarah, both single, decided to buy a home together. They were wary at first, but after consulting a mortgage adviser, they went ahead with the purchase. The cost of living as a single person can be high, with some estimates suggesting it could be a few hundred pounds to £10,000 extra per year. However, buying together allowed them to cut costs, share responsibilities, and afford a home sooner.

Their agreement included a minimum two-year stay, a proportional split of mortgage payments, and a detailed declaration of trust. They also shared household bills and meals, with Sarah keeping track of expenses. Four years after moving in, they sold the house for a profit, using the equity for their next separate purchases. Sarah believes they would have eventually been able to afford a home on their own, but the financial benefit of buying together made it possible much sooner.

Inspired by their success, friend Philly created Cucoon, an online platform that helps singles find potential house-buying partners. Sarah thinks the single life is like a constant review of one's costs, and shared living arrangements can level the playing field. Julia Pearson, another single, also shares costs with friends, including car insurance and gardening tools. She believes society is becoming more socially oriented in terms of sharing, and there are various ways to save money by being resourceful.