On Tuesday, Tim Gunn, the pleasant and always dapper mentor of “Project Runway,” shocked the nation when he shared on ABC’s “The Revolution” that he was proudly celebrating 29 years of celibacy. While his announcement was met with cheers from the studio audience, much of the blogging and tweeting world appeared to be perplexed by this revelation.
Some were wondering why anyone in their right mind would choose half a lifetime of celibacy. Gunn acknowledged that relationship issues and concerns about health contributed to his decision. But for those pondering this life-altering choice, there are financial benefits of celibacy too!
Financial Benefits of Celibacy
While Tim Gunn made no mention of any financial benefits that could arise from taking a vow of celibacy, his 29 years of going without sex has likely had a positive impact on his savings account over the years. Here are just a few discounts that a man or woman choosing a similar path could enjoy:
1. The Wine and Dine Discount
Anyone who tries to lure someone into the sack may have to do a little wining and dining first to impress their partner, which of course costs money.
A 2011 survey from Match.com revealed that both men and women spend a pretty penny to prepare for or enjoy their dates. More than half of men surveyed averaged $50 or more on the date itself, while 65 percent of women spent $50 or more on pre-date grooming and outfits.
If these dollars are being spent by either party in hopes of having a horizontal party at the end of the night, jumping on the celibacy bandwagon definitely spares the wallet and pads the budget. In fact, if you were planning to have an average of just four dates per year for 29 years, you could save nearly $6,000 by remaining celibate instead.
2. The Contraception Discount
Another one of the many celibacy benefits that help you save money is the eliminated need for contraception. Human Life International shares that in 2007, men spent an average of $181 per year on condoms, while the annual cost of oral contraception for women averaged $440.
By choosing to live a celibate life, you can take the contraception discount and save between $5,000 and $13,000 over the next 29 years.
3. The Lingerie, Etc. Discount
A woman who hopes for an exciting night after a date may consider purchasing some sexy lingerie, which can cost anywhere from $10 (if you don’t mind it coming apart at the seams) to hundreds of dollars. However, for a reasonably-priced, quality piece, you’re looking at about $50 to $100.
Throw in a few bedroom novelties for another $50. By choosing a celibate life instead, you can expect to save about $3,000 to $5,000 over 29 years.
4. The Baby Discount
If you choose to steer clear of sex, having a baby becomes impossible unless you adopt. So if you are not interested in raising a child–which is the preference of many–then another one of the financial benefits of celibacy is the baby discount.
The U.S. Department of Agriculture revealed that the cost of raising a child from birth to age 18 for a middle-income, two-parent family averaged $226,920 in 2010. This estimate did not include college costs.
Assuming these costs will be significantly higher if you choose to have a child now, you are saving at least $300,000 over the next 20 years or so by choosing a life of celibacy. Add another child to the mix and, presto, you’re off the hook for over a half-million in child-rearing costs.
After adding up just these four discounts, you can see there are numerous financial benefits of celibacy: At least $10,000 per year, depending on your choices. Of course, these benefits are coupled with the obvious health benefits that come with this choice as well.
Tim Gunn, who is estimated to have a net worth in the millions, may not have earned it all by taking an extended break from sex, but it’s very likely that being celibate hasn’t had a negative impact on his finances in the least!
