How To Reduce the Cost of Living Alone in the UK?

The number of one person households is slowly but steadily rising. According to the Office for National Statistics, the number of people living alone in the UK has increased by over 8% in the last decade.

The reason for this isn’t precisely known. One possible factor is the disparity between the average life expectancy between males and females. As reported by Statista, there were more than twice as many elderly UK women than men living alone in 2021– and this statistic would support the hypothesis.

Yet, since there are other demographics with large populations that live alone, there are likely several factors driving the growth.

Regardless of the underlying cause, one thing is for certain. Without anyone to share the burden, the burden of keeping a roof overhead and food on the table can soon feel insurmountably heavy for those who have to shoulder it by themselves.

With that in mind, we’ve written this short guide on how to reduce the cost of living alone.

Why does it cost more to live alone?

In the first place, people living on their own are more likely to rent rather than buy their own homes. Generally speaking, mortgage payments tend to be less expensive than rent bills.

On top of this, however, single people find themselves paying the same prices on bills that couples are able to share between them. From council tax all the way to grocery costs, single people find that more of their salary is eaten up by simple and necessary bills.

Ways to reduce the costs of living alone

Protect yourself

Many renters mistakenly think that they can’t afford to get renters’ insurance. Yet many find out the hard way that they can’t afford not to. If items in your dwelling are lost, stolen or damaged then you could find yourself needing to pay a large amount of money to replace them.

You may not need to pay as much as you think to insure your possessions. Search for different options online and compare the value of the package against the price so that you find the best deal that you can.

Check your benefits

Contrary to popular belief, government relief isn’t based on your individual salary alone. Many benefits packages also take into account your total household income.

This means that you could be eligible for financial assistance from the government if you live on your own. Be sure to check your eligibility even if you don’t think that you’re entitled to receive benefits – you might be surprised at what help is available.

Improve your energy efficiency

One advantage of living alone is that you don’t need to worry about anybody else’s comfort. This means that you can fully optimise your home so that it uses the exact amount of energy that will keep you comfortable – nothing more, nothing less.

To make the most of this opportunity, consider whether you could cut costs via the following means:

  • Schedule the boiler to only come on when absolutely necessary
  • Turn all unused switches off
  • Avoid leaving electrical items on standby
  • Install a smart thermostat
  • Wash clothes at a lower temperature

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