Struggling Financially Due to Being Single? Here Are 3 Ways to Get Ahead

Being single doesn't have to mean having a hard time paying your bills.

There are certain benefits single people get to enjoy. When you're not part of a couple, you don't have to constantly take another person's needs into account. Want to take a last-minute vacation to Paris? As long as it won't lead you into credit card debt, go for it. It's not like you have to consult your partner to make sure they're okay with that expense.

Also, when you're single, you don't have to deal with a partner's frustrating habits. Hate clutter? If you live alone, that's something you can control. You won't have to spend your days being annoyed over dishes left in the sink and packages left strewn about in the hallway.

But while being single can have its perks, there's a financial downside. People who are single don't have a partner to share their expenses with. And that could be a burden. Let's say your rent or mortgage payment costs $1,500 a month. Your landlord or lender isn't going to charge you a different amount based on the number of people living under your roof. But if you're single, there's no one to split that tab with.

Also, in some cases, you might face an actual surcharge for being single. Singles who book a cabin on a cruise, for example, are sometimes charged more for not having someone to share with.

This collective set of financial burdens is often referred to as the singles tax. And in a recent Forbes Advisor survey, 93% of singles acknowledged that the singles tax is a problem. If it's been an issue for you, here's how to cope with it.

1. Set your own financial goals and priorities

Maybe traveling is more important to you than owning a home. If you're single, you don't have to give up on trips and vacations to sock funds away for a home purchase -- so don't. Spend your money as you please, and carve out room in your budget for the things you want to prioritize.

2. Build up emergency savings

When you're part of a couple and you run into a financial hiccup, you might have two sets of income to tap for addressing the issue at hand. When you're single, that option isn't on the table. But you can make up for it by socking away plenty of money in savings. That way, if you're hit with an unplanned bill, you'll have cash reserves to tap.

3. Boost your income with a side hustle

Being single means you don't have to worry about upsetting a partner if you choose to spend some of your free time growing your income. Take on a side hustle to make it easier to cover your bills, and to carve out more money for the things in life that are most important to you.

Being single isn't always easy. But rather than bemoan the fact you aren't currently part of a couple, try to make the most of it. Focus your energy on your career, your hobbies, or just about anything else that can make your life better. And realize, too, that you're not doomed financially just because you don't have a partner to split the bills with.