Money issues for singles can be just as vast for marrieds and living togethers. It all depends on how long the single wants to stay single, too. If somebody just intends to stay single and is just dating, money issues can be as varied as putting away for retirement, being able to support one’s self, maybe having to help take care of sick and aged relatives, getting and maintaining lines of credit to help get a car, a condo, a house, or travelling through Europe or some other far-flung forweign location to where you are.
Also, you may wish to go back to school to get a better job or a promotion at your existing job, as you start to scale the ladder of life to bigger and better things. There can also be the money issue of carrying debt for that and other acquisitions that we all want in our life to make it more of a decent existence is what all singles and non-singles want. A decent existence can easily entail climbing through all of the ladders and hoops to get the ever increasing better things in life till we all a reach a point of personal satisfaction and security. Being single is full of financial pitfalls and many unanswered financial questions that reach into every point of our existence. At least some degree of financial planning becomes absolutely critical.
Most of us don’t plan to be single forever. But we are still daunted sometimes by extreme money issues (as if we were more than one). There can be issues of being a single parent and paying your part of child support every month, as well as saving and investing monies to help put your child through university. There can also be the paying of legal fees to lawyers to get child support from the non-paying other parent, as well as getting alimony. So, being single can have just as money money issues, or more than being in a relationship.
Sticking with the theme of being a single parent, there can be paying for clothes, food, schoolbooks and fees for your child. There can be the paying into little Timmy and Jennifer’s soccer camp. While all of this is going on, your mom and/or dad might have to go into a nursing home and you might have to pay part of it. You can be single with money issues at any age, any point in your life, for we live a life complicated by many unanswered financial questions that need planning from the get-go, to avoid unnecessary financial storms down the road. With careful planning, comes a ship of life that navigates the ocean well, mostly through calm and placid beautifully-sparkling blue oceans.