Foster Denovo|News & blogs|News|Helping single clients become financially resilient

Helping single clients become financially resilient

One of the big advantages associated with being single is freedom — but that comes at a financial cost.

Hargreaves Lansdown’s recent Savings and Resilience Barometer found that single people living alone were less likely than couples to have enough emergency savings, to be on track for a moderate income in retirement and to have enough spare cash to be resilient.

Jamie Smith, Partner at Foster Denovo, says that single people need to be self-sufficient and the financial independence that can come from this is positive.

“In a sense, single people can be more financially resilient than those in couples, as typically they have little choice but to pay more attention and be disciplined with their finances because they can’t rely on the safety net of financial support from a partner. However, single people are often living more modest lifestyles as they have less disposable income.”

Read the full Money Marketing article here.

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