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Your Money: The singledom trap - the costs & financial perils of being single

Saying 'I do' could save you thousands in tax each year and cut car insurance costs, writes Louise McBride

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'A well-paid single person could pay as much as €12,000 more tax than a married couple on the same income'

'A well-paid single person could pay as much as €12,000 more tax than a married couple on the same income'

'A well-paid single person could pay as much as €12,000 more tax than a married couple on the same income'

Single people could pay seven times more tax than a married couple and hundreds more for their car insurance, research by the Sunday Independent has found. Singletons also often lose out financially with holidays, inheritance and mortgages. So, as Valentine's Day approaches, how exactly are single people on the back foot financially - and bar getting married, is there anything they can do to overcome their money woes?

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