Single mums budget

mazzymoo3

Also for Boris allen I teach my children if they have nothing nice to say then dont say anything anything at all.

amorage I get £400 tax credit and £180 child benefit but because my yearly income for last year was low, I doubt i will be recieving this in april.
Last year i only worked 20hrs a week and then I was on maternity pay.
In 2012 It will show my income as being 15k higher and i have been told I would be earning too much for tax credit.

rising_from_the_ashes

mazzymoo3 wrote: »

So for example my mot and repairs this year were £400 would you just divide that by 12 ?

Yup, so the figure you would put in would be £34.

For the swimming, if it's every 3 months.... £175 x 4 / 12 = £59.

I hate to say it but that's a lot of money every month - how often do they go?

Can you not get monthly swim passes etc?


Check the rest of the figures are def monthly ones and see what the shortfall reduces to. If there's nowhere else to cut down, then the swimming may have to be reduced in frequency (may sound harsh but you need to balance the books)

mazzymoo3

just sitting here thinking about the swimming, before the classes i used to take the older 2 myself but since the little man has arrived its pretty impossible as not sure what to do with him!.
The oldest is a real worrier and the 1 21 classes have really helped her with her confidence but I think your right.
will speak to pay roll tomo as well and just clarify whats going on with the salary sacrifice, perhaps because its the first time i have done it its been messed up, never used childcare when ex was present.
Not sure if i am liking this single parenthood lark if its this hard! heyho

Bogof_Babe

Infidelity doesn't have to mean the end of your marriage, unless it's still ongoing of course. You sound like you're already finding out how difficult life will be as a single parent, especially with three such young children. Any chance you could forgive and try again? I know it's absolutely none of my business, but some women think they HAVE to split up if their partner has been unfaithful, and then live to regret being so hasty.

Edited to add: It seems a shame for the kids too, as you say he's a great dad.

rising_from_the_ashes

mazzymoo3 wrote: »

just sitting here thinking about the swimming, before the classes i used to take the older 2 myself but since the little man has arrived its pretty impossible as not sure what to do with him!.

Have a hunt around pools nearby - the bigger ones here have creches which the smaller ones don't. Even if it's a slightly longer journey, I'm sure it would be much cheaper to take them yourself and pop him in the creche.

mildred1978

How much is your total childcare bill per month and how much do you sacrifice for vouchers (£243?)? Whatever is left is what goes in the SOA under childcare.

Plus, don't multiply weekly by 4 to get monthly. There are more than 4 weeks in 11/12 months. You need to multiply by 52 and divide by 12. So your son's activities are actually £43.33 per month. It makes a difference.

mildred1978

Also, you can't just transfer a mortgage (in your first post) so your ex is probably stuck on yours.

saterkey

Maybe you could come to some agreement, where he lives in the property as well, but have separate lives except for kids, this would help financially. you would have to come to some agreement to keep things/other people outside of the home, this would also mean your kids would have both parents around still.

mazzymoo3

Bogof_babe, i have thought about having him back but I think once the trust has gone I am not sure i could trust him, the 2 times i have been vulnerable ie pregnant and then when baby was 3 mths old his let me down, its difficult being single mum but some many women manage it and some of them dont even have a job I am sure i can manage it once i have sorted out these finances.

Mildred1978 i did say transfer but we are both on the mortgage but he is going to take his name off it but it cost £350 plus VAT so I need to get that ball rolling.

This is the first month that I have used the vouchers so really need to get on top of it I have applied for the full amount £243.
So will get on the case.

Also the house is a 3 bed the 2 older ones shares and baby in box room, so no room in the inn currently.
We get on well but not sure if i am ready to top and tail in bed yet! lol x


I have redone the SOA, and my gas and electricity (E-on) has gone up since last DD to £80.

I have changed some of the other figures too.
The swimming is the tough one, I am going to sell some home made necklaces on ebay to keep swimming going but £2,700 didnt see that figure coming!

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1800
Partners monthly income after tax....... 0
Benefits................................ 580
Other income............................ 0
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 670
Secured/HP loan repayments.............. 236
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 28.4
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 12.12
Satellite/Cable TV...................... 21.5
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 30
Petrol/diesel........................... 80
Road tax................................ 50
Car Insurance........................... 42
Car maintenance (including MOT)......... 34
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 550
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 56
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 0
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2300.02

Assets
Cash.................................... 0
House value (Gross)..................... 165000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 165800

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 124000...(670)......4.79
Secured Debt.................. 12000....(211)......7.9
Hire Purchase (HP) debt ...... 2000.....(25).......0
Total secured & HP debts...... 138000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Virgin credit card.............3000......25........0
Total unsecured debts..........3000......25........-

Monthly Budget Summary
Total monthly income.................... 2,380
Expenses (including HP & secured debts). 2,300.02
Available for debt repayments........... 79.98
Monthly UNsecured debt repayments....... 25
Amount left after debt repayments....... 54.98
Personal Balance Sheet Summary
Total assets (things you own)........... 165,800
Total HP & Secured debt................. -138,000
Total Unsecured debt.................... -3,000
Net Assets.............................. 24,800

mildred1978

mazzymoo3 wrote: »

Bogof_babe, i have thought about having him back but I think once the trust has gone I am not sure i could trust him, the 2 times i have been vulnerable ie pregnant and then when baby was 3 mths old his let me down, its difficult being single mum but some many women manage it and some of them dont even have a job I am sure i can manage it once i have sorted out these finances.

Mildred1978 i did say transfer but we are both on the mortgage but his going to take his name off it but it cost £350 plus VAT so I need to get that ball rolling.

This is the first month that Ihave used the vouchers so really need to get on top of it I have applied for the full amount £243.
So will get on the case

He can't take his name off the mortgage. You'll have to pass credit and affordability checks on your own and the bank may not allow you to take a mortgage alone.