Saying that today”s world is fast-changing almost goes without saying. This is the reason companies are required to keep close attention to trends and innovations, and Iban Wallet is no exception.
Due to current events, a majority of eyes is focused on the growing digitalization and the adoption of new technologies. While these are of great importance, it should always be kept in mind that people, rather than tech, is at the core of any business.
For instance, ever since the 1950s there has been a notable acceleration of one-person households and of being single by choice, which can be observed at a global scale, as per Oxford-base Our World In Data.
An interesting product of such change is the growing popularity of Singles Day, an unofficial holiday that has become an event in the world”s shopping calendar. Such growth is in itself a signal of a more connected and globalized world – having been born in a dorm room in 1990s China – but it would not happen if this idea did not resonate with people.
In honor of this day and for all single people wanting to get the most out of their money, here are some of the ways single life can actually be of benefit from a financial perspective.
In a general way, it all boils down to one concept: freedom.
It is true that in many ways societies seem to be organized to cater and benefit married/family life. From taxation benefits to the advantages of two incomes and shared expenses, there is no shortage of information on the commonly referred-to “single-person penalty”.
But the fact remains that single people have overall more control over their finances. They can budget without having to align with different priorities and can focus on financial goals they are passionate about, but that may not make that much sense to other people.
This means both the possibility of making an occasional extravagant purchase or going into extreme expense slashing without accommodating someone else.
On the other side of the spectrum, there is also the matter of not needing to account for a partner”s spending patterns, nor for their pre-existing debt. And let”s not forget that maintaining a relationship brings its own costs associated with shared activities. Think of Valentine”s Day plans or Christmas and birthday gifts.
So it is not surprising that it is reported that money issues rank number 1 in topics couples argue about.
Having this extra level of financial independence does not come without its pitfalls. After all, depending on only paycheck can be penalizing in terms of fixed costs. And even in those cases where that paycheck would be large enough to make up for two, the fact that it is a single source makes it riskier in terms of having a safety net should anything go wrong.
This is why it is so important for single people to account for emergencies and to make the most out of their money.
Although basically anyone could benefit from the services provided by financial marketplaces such as Iban Wallet, single people can there find a powerful tool to boost their financial planning. And considering the freedom, many of them value, the Iban Account could prove to be a great fit. Click here to know more.
After all, the flexibility to start from just EUR1 and to make deposit and withdrawal requests at any time seems to very much be in line with their mindset and needs – especially for a market that is becoming increasingly more open and democratized.
Iban is an online marketplace that offers investment opportunities at a projected interest rate derived from investment in loans from various lenders
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