'Singles' tax and countries that offer the best financial balance
Living alone often means increased expenses. A new study highlights the best countries for those who are thinking of moving, looking for more purchasing power.
In the EU, about 80 million households consist of people living alone, exceeding 50% of the total.
From 2013 to 2023, the percentage of people living without children increased over 21%, making it the fastest growing household type in Europe.
With the cost of living and prices of real estate to be launched, the financial burden of lonely living is becoming increasingly heavier – something that is now called « Singles Tax », as reports. Euronews.
The Swedish Credwise Comparison Credit Company has created an index that takes into account the annual net income and the local cost of living, identifying which European countries offer the singles the largest purchasing power.
At the top of the list is Switzerland. Despite the high cost of living, it also has the best net wages in Europe – exceeding 85,000 euros a year, according to Eurostat data.
A person who lives alone there could save up to 34,000 euros a year.
At the top of the list the Netherlands
The Netherlands and Germany were also high on the list, despite the lower salaries, thanks to the balance between income and life costs.
« With this approach, we highlight countries where singles may not save most money in absolute numbers, but their purchasing power remains high, » Credwise explains.
The Scandinavian states also marked good performance, with Iceland in fifth place and Norway in the seventh.
Norway stands out in particular, as it offers the second highest possible savings, almost 16,000 euros, with average wages (45,798 euros) balanced well with the cost of living (€ 30,096).
