How to save money as a single: The 10 best tips

In 2022, the Federal Statistical Office registered 16.7 million single households. We’ll explain to you how you can use clever tricks to reduce your costs as a single person.

41 percent of German households consisted of individuals in 2022. As a single, you bear all your costs alone, tax disadvantages are to be expected. Do you want to be single and save money? Discover the financial benefits of the solo lifestyle.

Rent, utilities, living expenses, having to bear all of this alone as a single person is expensive. In a multi-person household you share the costs, if you are single you finance everything yourself. Use the following savings tricks to protect your budget. The basic rule is: check carefully whether special singles offers are worthwhile. This is often not the case, especially when it comes to purchases.

1. Compare electricity providers, mobile phone contracts and insurance policies.
2. Switch to another provider, sometimes there are single tariffs.
3. Buy in bulk and share with friends or neighbors. Single packaging is almost always more expensive.
4. Cook food for 4 people and freeze leftover portions. This not only saves money, but also time.
5. Make a weekly meal plan and shop accordingly. This way you throw away less food.
6. If there is little laundry to do, do your laundry in the laundromat. Single machines are often energy guzzlers.
7. Alternatively, you can also buy a washing machine that has an economy program that adapts precisely to the amount of laundry.
8. Check your electrical appliances. Sort out power guzzlers.
9. Turn off standby mode, it will increase your electricity bill by up to 10%.
10. Check whether car sharing can be an alternative for you. This means you save on both the purchase costs of a car and the monthly maintenance of the vehicle. There is a lot of savings potential, especially if you rarely use the car.

Buying a single electrical device seems tempting. Washing machines and dishwashers in mini format are the manufacturers’ answer to the high proportion of singles. Avoid using them, energy efficiency is often poor. Use a large device and use it cleverly. Collect dirty laundry until the machine is full. Wash few dishes by hand and avoid using the dishwasher.

The kettle is your friend. Sounds banal, but it’s more energy efficient than boiling water in a pot on the stove, regardless of whether you use electricity or gas. It’s also worth converting your home entirely to LED lights and unplugging electrical devices that aren’t being used.

Single people pay high taxes: tax class 1 is standard. If you are employed, you are not required to file a tax return. Make one anyway! Cleverly combined, you can deduct part of the housing and additional costs as a flat rate for home office. The prerequisite is that you work from home (even partially).