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  • Aleksandra Medina

Frich Insights: Is being single a budgeting hack?

If you look, you'll find plenty of financial advice on how to navigate money as a couple - whether you're married or not. Even here at Frich we've discussed prenups, shared bank accounts and cost sharing as a couple.

But, especially when we're young, there's a relationship that's even more important than romantic love - friendships. And although we're somewhat accustomed to the idea of discussing money with our significant others, we feel too awkward talking about money with our friends. But why? They're the ones who help us get through breakups and hold our hair back after we've had a bit too much to drink. They've literally seen it all. So why can't we open up about our finances?

Surprisingly around 75% of Frichies spend more money when they're in a relationship than when they're single. Why is that? Is it because it's easier to turn down plans with friends? Or you hang out less frequently? Or is it because there's less pressure to have fancy experiences? Either way, it's a curious insight that we didn't expect. And hey - if you just got through an annoying Valentine's season while single, you've got this going for you - being single is a budgeting hack! You heard it here first 😘

The TL;DR - most people fight with their significant others over money but don't tend to have these arguments with friends. 69% said that they have arguments with their significant other about money, with 26% saying that they argue about money quite often.

Our suggestion? Talk about money regularly so these conversations don't take you by surprise and aren't emotionally charged. And give your partner a heads up - you don't want to ambush them about their tax return over dinner.

Absolutely no one said "Quite often" to this question. 40% said they've had an argument with a friend over money once or twice and 60% have never argued with their friends about money. The bad news? 28% haven't had an argument about it because they don't discuss money with their friends. Well... you know what we think about that. Why don't you start by revealing your answers to Frich's Question of the Day? We hear they work as amazing conversation starters😜


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