Two-thirds of Brits think that being single is more expensive than a relationship - but they couldn't be further from the truth.
That's according to a new report that asked 4,000 UK adults whether or not they were in a relationship and how well off they were financially.
It found single adults believe they're spending £193 more a month of their disposable income compared to those in a relationship, amounting to over £2,300 a year.
However the Lloyds Bank report found single people are actually spending £300 less on living costs than those in a relationship per month, totalling up to £3,600 over a year.
This assumption could come from single people admitting to not turning to anyone when it comes to making a financial decision and could contribute to the reasons why single Brits save less money each month than those in a couple - £193 versus £234, Lloyds Bank said.
"We have always been told that single people are penalised financially - be it the extra cost of housing, holidays or food," explained Harry Wallop, consumer affairs expert.
"Finding someone to talk to about money may be harder to do if you’re not in a relationship but being open about your spending and saving is one of the secrets to having healthy finances."
The research comes as part of Lloyds Bank’s M-word activity that launched earlier this year, encouraging people to talk more openly about money and de-stigmatise the topic.
Jo Harris, managing director at Lloyds Bank, said: "Regardless of relationship status, we know how important it is to talk about money to help alleviate anxiety and avoid financial problems in the future.
"Our M-word initiative aims to empower people’s confidence in seeking financial guidance.
"Our research and customer insight show that single people have a lot to celebrate and we want to enable them to increase their understanding, and feel even more in control, of their money whilst enjoying the financial benefits their status may bring."
