being single and saving


I started my lovely Saturday morning with exploring new blogs about saving, debt payment, and retirement.

I was enjoying this activity as much as I can; I thought “I am not alone in this journey” “there may be things that I can learn from them” and ‘I can do this, too, as now I have a great budget that works for me”.

Yeah, right….

I stumbled upon a blog on the net where a young couple plans to retire at the age of 35 or something. They seem to be doing well, both working and having decent salaries, with large houses and others. It looks like they do save one salary completely and some of the second salary each year. They claim to increase their net worth ~$12,000 every month (mostly from investments and savings from salaries).

The reading that started so exciting on this beautiful Saturday then turned into a sour feeling: I cannot possibly save that much….

I felt all my efforts to make the best out of each dollar I earn somehow felt inadequate… insufficient…. I felt like I was trying to swim in a little pond in the backyard rather than an ocean….

But, it should not!….

I am living within my own reality, not somebody else’s. It may take me longer than others maybe, but eventually I will accomplish what I hope to accomplish. I have no interest in early retirement, though I would appreciate the freedom to retire early should I change my mind in future. I may feel disadvantaged but I should also feel proud of myself.

And I think I should especially appreciate the fact that I am saving and investing for my future all by myself.

Saving for a single person is not easy; one income means one person’s expenses, but when you think about couples (assuming that both of them are working), they do share the mortgage and utilities (though it is also possible that they may have extra expenses for being a couple, like having two cars, bigger houses, date nights etc.). Nevertheless, on the average I believe a couple may be able to save more than a single person. Correct me if I am wrong.

I applaud all the single people out there who are trying to save as much as they can – you deserve that.

I also applaud all the people out there, single, couple, with kids or not,  who are trying to save even though they do struggle with daily expenses, debt, and lack of employment or social support.

We may not be able to save thousands each month, but we can keep doing what we can do best.

And for that, we need to acknowledge, cherish, and congratulate each other.

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15 thoughts on “being single and saving

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    1. retirement is freedom if you ask me; freedom to do whatever we would like to do; whether it is getting up late, or following a hobby, or going back to school, or contributing to society and family. so at any age it can be needed or desired. since you are so young, perhaps you can be wiser than I am and start investing for your retirement early. I started very late (mid 30s) mostly because I have been a student or a trainee for a very long time. wishing you a wonderful saving plan and early retirement! 🙂

      Liked by 1 person

  1. This is such a great post! I think the most important thing with financial planning is like you said, do what you can with what you earn. It can be so discouraging reading about people who earn huge incomes saving a ton of money. I’m in my 20s, don’t make a ton of money and only have one income. I started my blog just so I could share my experiences trying to save money as a millennial, and it’s been so great to hear from people (of all ages) that I’m not alone in trying to save a few bucks here and there.

    I really enjoyed your post!

    Alicia

    Liked by 1 person

  2. Here you are looking for inspiration from others on saving, yet you are a great inspiration! Keep sharing both the struggles and accomplishments – that’s what true families do to support one another. Be careful reading about how others are ‘saving,’ Oftentimes, when they count expenses they do NOT include housing mortgages or rents and in my opinion those are expenses, especially since they do not generate income (usually). Keep up the good work!

    Liked by 1 person

    1. you are always so kind and supportive – thanks a lot Tauna (I hope I remembered your name correctly). It has been an interesting journey re; saving, in the last one year. Lost of struggle and lots of excitement at the same time… It is true that I am both excited and frustrated about it and eventually both help me to find the best way for me and control my emotions about it..thanks again for your lovely words and support 🙂

      Liked by 1 person

  3. I don’t think it matters much if you are single or not. Being frugal is a mindset. If you are frugal, you will always try to find ways to save and you will. I am single, maybe a couple of years older than you, and I think I am doing just fine financially compare to my couple friends, if not better. I believe in doing your own thing and stick to your principals. When people are in a relationship and if their partner do not have the same mindset, they will have even a harder time saving. Single people have more control over how they spend their money and money. Couples have to compromise, and sometimes it means spending money that they don’t want to spend.

    Stick to your goals and keep up the good work!

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  4. I agree with your sentiments! I get discouraged as well when I read others’ stories and I cannot compare. Your post is a timely reminder for myself that “I am not alone in this journey”, and that other people feel the same way I do to and still keep on at it. Good on you for recognising that we are all on our own journeys and reminding us all to support each other no matter what that looks like 🙂

    As for saving as a single person or in a couple – of course it depends on each person and the lifestyle they want, but I think I could save more as a single person. I would live in a smaller space (a studio as opposed to one bedroom unit) and have a lot more control over how I spend “household” money. I often have to bite my tongue when my partner has good intentions and buys us a “treat” or brings home groceries but didn’t buy the cheaper brand etc.

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    1. 🙂 looks like there are different opinions re: single versus couple. You are right in saying that both persons should have a similar attitude towards money, spending, and saving otherwise it may not work out as I thought originally 🙂

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  5. I’m starting to feel like a stalker with all these comments on your posts, but this one is a great post too! It is FRUSTRATING to see the people that are able to save money like that and retire at 35. Makes my little savings account very sad. But you got it right, we are doing what we can, and that’s what’s important. 😀

    Liked by 1 person

  6. Hello and thank you for visiting my blog….lovely to read about another single person on their life/financial journey. Agree to some extent that being in a pair one might be able to do much better financially, but only if both are on the same page. More often that not, one is more committed than the other!!
    Do you read Blonde on a Budget? She has some great ideas. Will keep on reading to see how your are faring.

    Liked by 1 person

    1. thanks for dropping by. yep, another blogger brought this to my attention, re; if both of the couple is on the same page, then it can be possible. that may be right – interestingly though I know no couple who are not on the same page when comes to finances. my only point is that the chances of saving is higher if both works, not necessarily taking into account that one would spend all or behind the other (which sometimes I hear happens; many people lost money in gambling or have many credit cards fully spent without telling to spouse).. seems like it may happen). cheers 🙂

      Liked by 1 person

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