It pays to be single, new research suggests

Living a single life can be beneficial for your bank balance, according to recent research carried out by Fool.co.uk.

The price comparison company has discovered that people who are not in a relationship tend to pay almost £220 less to cover the monthly rent and household bills than their coupled counterparts.

Additionally, with millions of Britons struggling with debt management difficulties, the latest research has shown that those in couples spend more each month on everything from dining out to buying new clothes.

“Money can’t buy you love, but it can help to ease the burden as payday gets further away and the bills start rolling in,” said David Kuo, head of personal finance at Fool.co.uk.

Mr Kuo went on to make clear that while being better off cannot always make up for not having a loving partner, it might make it easier to clear debt and become more financially stable.

Earlier this month, a report from Friends Provident claimed that the credit crunch has prompted many people to start paying more attention to the state of their finances.