How are single Aussies ending up $20k behind?
Key takeaways
- Finder's Single Tax Report revealed a near $20,000 savings gap between single and coupled Australians.
- On average, a single person can live off their savings for just 15.9 weeks, compared to 17.4 weeks for those with a partner.
- What's next: Despite these challenges, single Aussies can take steps to grow their balance.
Being single in 2026 is often synonymous with having the freedom to live life on your own terms. And while there is a grain of truth to this, single life does have one major limitation.
According to Finder's Single Tax Report, the average difference in savings between singles and those in a relationship was almost a staggering $20,000.
When we look at this on a month-on-month basis, the average single is tucking away $651 every month, while someone in a relationship stashes $1,086 each month.
With couples consistently coming at $435 a month ahead, many singles are feeling the financial strain that comes with flying solo.
It's not necessarily a dead end for singles, though. Although there's no second salary, singles can make simple switches to help boost their balance.
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3 savings tips for single Aussies
- Get more bang for your buck (literally). Most high-interest savings accounts have "bonus" conditions, like depositing $1,000 a month, which can be harder to hit on a single income. Instead, look for accounts with high "introductory" or "no-hoops" rates. Banks like Rabobank and ING are offering introductory rates as high as 5.65% p.a. for the first four months.
- Supercharge your deposit. If property ownership is a goal for you, but saving that hefty 20% deposit feels just out of reach, consider looking into government schemes and grants. For example, the First Home Guarantee allows singles to purchase a property with a 5% deposit.
- Consider bill smoothing. It's no surprise single households are more vulnerable to bill shock, which is why it might be worth asking your utility provider for "Bill Smoothing." This takes your estimated annual cost and divides it into equal, smaller fortnightly or monthly payments, making it easier to plan ahead with bigger bills.
See all of the insights in the full Singles Tax Report.
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