BUYING SOLO

Smart tips to stretch your money as a singleton

- BY RACHEL BERESFORD

BEING single during a cost-of-living crisis can feel like the odds are stacked against you — but you're not alone.

While we can't do anything to change the housing market or eliminate the so-called 'single tax' that comes with living solo, gaining a clearer understanding of your spending habits can be a powerful first step towards getting back on track.

From bills to socialising to cooking, here are simple ways to cut costs across all areas of life...

1. Be open and honest about your financial situation with loved ones

“Be honest with your friends about where your finances are” advises Zoe Brett, financial planner at EQ Investors.

“There's all this pressure from social media to be going on a ski holiday or to that trendy new bar, and if you can't afford it, or if you've just got other goals where your money is better spent, just be honest with your friends about it.

“If they're real friends, they're not going to care if you can't go to that fancy restaurant — they'll find something cheaper to do.”

2. Shop around for the best deals