Infatuation Rules
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According to a MagnifyMoney analysis of the latest U.S. Census Bureau data, 55.6% of Americans 20 and older across the 100 largest cities are single, meaning they aren't married or they're divorced, separated or widowed. Singlehood is even more common among women across the 100 largest cities (57.3%) than men (53.7%).
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Read More »Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners. They say two is better than one, which for some, means finding a partner might be a major life goal. But for now, being single — particularly being a single woman — is more common in the largest U.S. cities than the alternative. According to a MagnifyMoney analysis of the latest U.S. Census Bureau data, 55.6% of Americans 20 and older across the 100 largest cities are single, meaning they aren’t married or they’re divorced, separated or widowed. Singlehood is even more common among women across the 100 largest cities (57.3%) than men (53.7%). Some may choose to remain single while others look to partner up eventually. But, either way, MagnifyMoney content director Ismat Mangla says being single can significantly impact one’s finances. “So many financial incentives — not to mention financial advice — in our society are geared toward married couples and families,” she says. “It can sometimes feel daunting to tackle and protect your finances as a single person.”
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Read More »Further, men are more likely to be single in just four of the largest 100 cities. Shares of single women surpass shares of single men in every other city by an average of 3.8 percentage points. Greensboro, N.C., has the widest gap between the rate of single women and single men at 10 percentage points — 62.2% of women on their own, compared with 52.2% of men.
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Read More »Get and stay organized. Not worrying about someone else’s needs or priorities can be a huge advantage to budgeting as a single person. But it can also make accountability a little trickier. Mangla recommends doing an inventory of your debts, expenses and income — and tracking it regularly. Plus, making sure your savings are growing in a high-yield savings account can help consumers best prepare for emergencies. Not worrying about someone else’s needs or priorities can be a huge advantage to budgeting as a single person. But it can also make accountability a little trickier. Mangla recommends doing an inventory of your debts, expenses and income — and tracking it regularly. Plus, making sure your savings are growing in a high-yield savings account can help consumers best prepare for emergencies. Don’t go it alone. Being single doesn’t mean you can’t have friends or professional help to reach your goals. Mangla highlights the need for single folks to build a little more robust emergency savings and other safety nets to protect their finances. “You might even consider finding another single ‘financial buddy’ to help you navigate things and educate yourselves,” she says. A financial advisor can be an excellent resource for single folks looking for the best ways to build wealth. Being single doesn’t mean you can’t have friends or professional help to reach your goals. Mangla highlights the need for single folks to build a little more robust emergency savings and other safety nets to protect their finances. “You might even consider finding another single ‘financial buddy’ to help you navigate things and educate yourselves,” she says. A financial advisor can be an excellent resource for single folks looking for the best ways to build wealth. Invest in yourself. Couples who merge their finances may have the advantages of a dual income, but there are plenty of other ways for single earners to increase money flowing in. “You are your biggest asset, so keep increasing your skills and earning power,” Mangla says. “Consider diversifying your streams of income, whether it’s through an investment property or side hustle.”
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