Valentine’s Day can be a day of cementing your everlasting love, or…it can be the day when you realise that the relationship probably isn’t going anywhere. If you’re in the latter category, then besides the obvious heartbreak that follows every doomed relationship, you might be wondering how becoming single again will affect your finances. The good news is that you’re day to day spending might be reduced, but the bad news is that you might have to fork out some big currency as you prepare for single life.

Pro: You’re in Control of Your Finances

How many times in the past six months have you had to buy a present for your partner’s niece? Or had to go out for an expensive dinner just because your other half wanted to? When you’re single, you don’t have to worry about these things. The number of things you “should” be spending on is severely reduced. You are in control of your finances, including your daily budget for food and entertainment. If you’re happy to eat rice and beans every day (and why not? It’s nutritionally sound), you can do so without wondering what your girlfriend or boyfriend will think. Win!

Con: Big Costs

…but, depending on how serious your relationship was, you might have some big expenses coming up. This will become especially clear if you need to find a new place to live; while you might be able to cover the rent, you’ll probably need a service like Moneyboat to cover the cost of the deposit, moving vans, rental letting fees, and so on. If you shared a car then you’ll have to decide what to do about transport – you’ll either be buying your partner’s share or looking for a new car. Other shared items, like kitchen appliances, will also require you to spend money.

Pro: Holidays are for Fun

But on the plus side, you won’t have to dread the arrival of holidays or birthdays. Being single means you’re able to buy presents and choose to go for festive drinks with the people you really care about in life. We’re also sure that if you think back, you’ll realise that you spent a lot of money on your partner twice a year – for his or her birthday and at Christmas. In fact, you can probably have a fun festive period for the cost of the presents you bought alone!  

Con: Expensive Dating Game

If you want to get a new girlfriend or boyfriend, however, you’re going to have to enter the murky, often expensive world of dating. Regardless of who ends up paying for the meal, you have to have the cash ready to pay your way , and it’ll also an active social life for a while. The cost of going out hoping to find your next true love is much more expensive than cuddling up on the couch with a film. But you might also find a relationship that lasts a lifetime, so there’s always that!

Verdict: Save the heartache until you can afford to make it through it.

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