Does being single impact you financially? Lewis Goodall discusses
20 July 2023, 15:01
Lewis Goodall discusses the financial 'penalty' of being single
With a Mayfair-based Michelin star restaurant beginning to charge lone diners the same price as couples, Lewis Goodall discussed being single in the UK amid the cost of living crisis and whether single people feel they are paying a "penalty" for not being in a relationship.
"Being single in the UK at the moment...is basically the worst thing you can do for your financial health," Lewis Goodall told listeners, as he discussed a Michelin-star restaurant that is now charging single diners the equivalent price for a couple.
One Mayfair restaurant is now charging lone diners £350 for their tasting menu due to being seated at a table for two, while couples are charged the same price split between them.
They justify the decision based on their size, explaining that as they only have 11 tables, they require a minimum spend from solo eaters.
It is believed other Michelin-star eateries may go the same way.
Lewis went on to discuss housing with reference to being single, referencing previous figures from mortgage broker Hargreaves Lansdown.
According to the financial services company, single people pay £860 a month more on the cost of living than those in couples, with spending on rent, groceries and household bills much higher for people living alone.
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"It makes complete sense when you think about it, if you're paying rent then you have it, Netflix account only one of you needs it, food, there's going to be no wastage," Lewis asserted.
He went on to refer to mention single friends who he said feel "acutely" that "society is more difficult" if you're single.
"There is quite literally a financial penalty," he continued.
"It's very very difficult to buy a house or a flat for couples these days, there's very very little prospect unless you've got a very good income of doing so on your own...it's unthinkable now really."
Lewis then commented on the orientation of our politics around "hard-working families", noting that much of pandemic policy focused on the nuclear family.
"It's really really difficult and it's not something that we ever talk about," he concluded.
