Beating Broke

Personal Finance from the Broke Perspective

Would You Be Better Off Single (Financially)?

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There are, undeniably, some benefits to being married.  Both financially, and otherwise.  But, are there benefits to being single as well?  Would you be better off single?

One of the biggest financial benefits to being married is the ability to have two full-time incomes coming into the household.  Using both incomes, we have the ability to save more money for retirement and for emergencies.  But, we’ve still got to have the ability to see each other once in a while, so we have a limited ability to extend our work hours to increase our incomes.  Being single, you have the ability to work 10-12 hours a day, and increase your income through overtime, or through a second, after-hours job.

Together Time 106/365As a single person, there’s no arguments over where the money should go, how much of it to save, or whether a person can survive on a diet of rice and beans.  Frugality can be taken to extremes that are usually off limits to the married.  Want to live in a one room shack with limited heating and cooling because you’re at work more than you’re at home?  If you’re single, you can do that.  Being married, especially if there are children, makes that a near impossibility.  Want to take up a bike lane living lifestyle?  In North Dakota?  If you’re single, that’s probably possible.  Married?  With kids?  Think again.

Being single also helps you save money.  There are no Valentines gifts or anniversary gifts needed.  Why buy a fancy bedroom set when a mattress on the floor will do the trick?  Your dining out bill is easily cut in half, or more, since you don’t need to eat at those fancy restaurants. Taco Bell and Dominos will do just fine.

Without the restrictions on your time, you have free rein to do what you want, when you want to do it.

Are you single?  Are you better off financially than you would be if you were married?  Are you married?  What do you think?  Would you be better off, financially, if you were single?

photo credit: SashaW

7 Frugal Date Suggestions

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frugal date suggestion: walk on the beachWhether you are dating or married, one of the best ways to maintain closeness in your relationship is to have a date night.  However, with the high cost of entertainment, dating can put a serious kink in your budget, but it does not have to.  Here are some frugal date suggestions that will kindle your relationship and protect your wallet.

-Cook together.  Dates don’t always have to entail a dinner and a movie.  Consider making a meal together.  My husband and I both love to cook and eat, so during our courtship we frequently cooked together.  We tried new recipes and varied what we prepared.  Sometimes we would make an economical stir-fry, while other times we bought crab legs from the grocery store and treated ourselves.  We bought the crab legs on sale for $9.99; still much cheaper than a night out on the town, and we could talk while we cooked.

-Go to a free concert.  If you live in a metropolitan area or near a college town, there is no shortage of free events.  Take advantage of them and plan your date around the event.  We attend blues festivals and food festivals as well as concerts in the park.  They provide several hours of enjoyable entertainment for free.

-Rent a movie.  Rent a movie or two from Redbox or the local library.  Redbox only charges $1 per movie, and the local library may offer them for free or for a nominal fee for $1 or $2.

-Star gaze together.  If you live in a rural area, take advantage of the darkness and put out a blanket on the ground and gaze at the stars together.  My husband and I bought a constellation map and spent hours trying to identify all of the constellations.  It’s also fun to watch shooting stars.

-Hike together.  If you live somewhere with trails or hiking paths, take a hike together.  It is free, and you can’t compete with the beautiful scenery.

-Have a picnic.  In this modern society where we are trained to go, go, go, it seems simple to pack a meal and have a picnic somewhere, but you will appreciate the time to talk and just focus on one another.  My husband and I frequently went to a local waterfall in the evenings and just talked.  It was so refreshing to hear the water in the background, and the scenery was amazing.

-Grab a bite to eat during happy hour.  Many restaurants offer ½ off appetizers between the hours of 3 and 5 and after 9 p.m.  Plan to dine out during that time and enjoy some half-price appetizers.  (This is fun to do sometimes; I went to grad school with a guy who would only take his dates out for half price appetizers.  I am still amazed that he found girls to go out with him.)

If you go the traditional route of dinner and a movie for a date, you could spend upwards of $50 for two people for just a few hours of entertainment.  Instead, try some of these frugal date suggestions or alternate expensive dates with more frugal dates.  After all, the point of dating is to have fun and enjoy one anothers company, not spend as much money as you can.  Enjoy!

photo credit: ai.dan