Single mums budget

Tixy

Hi

From the opening post I notice you have an informal agreement and he doesn't always manage the £100 a month - I really would suggest you get some advice on this, or contact the CSA to make sure he pays what he can / should.

Are you claiming the 25% discount on your council tax for living alone?

Regarding the annual costs which you don't pay for each month - I'd suggest opening a new account for budgeting and transfer this amount across each month, even if you don't use it, that should mean that when it comes to buying road tax or having the car serviced or buying presents that the money is in the seperate account ready (though maybe not for this xmas of course but going forward it will make it easier to budget).

Make sure you shop around for insurances - as someone has said you house ins looks very high, you should be able to halve given your house value.

Try redoing the SoA with monthly figures where you had annual before - and then see what you are left with and whether its a surplus of shortfall. That can then help you make a decision about the swimming, and whether to reduce this a bit.

Is your virgin card on 0%? when does the 0% deal end?

thrifty-gal26

It would be cheaper to take out life insurance rather than saving an amount every month. Plus you would get a better return of the worst should happen. We pay £37 a month for 3 policies which gives us £700K cover ( 300k each if the one dies and 100k to DSS if OH dies ) We cold never save that amount!

amorge

Hi,
I know single life hard to begin with and it sounds like a cliche but honestly it does get easier. I became single in Feb after 18yrs and it was a huge shock, realistically I've only just started feeling good about things in the last couple of months...I was very worried about finances but the advice I have received on this board has been amazing...

Anna x

Tixy

Addition -
I notice you've missed your overdrafts off your list of debts - on your revised SoA put them in the unsecured debt section (put the balance at the lowest it gets to in the month).

candygirl

With single person council tax , you should get 25% off your bill hun:D

candygirl

mildred1978 wrote: »

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.

She could get a guarantor, maybe one of her parents:D

mazzymoo3

so much that i hadnt thought of!.
There is no one to be a guarantor (no parents)
my annual income is £36,500 and mortgage is about £124000 and a 2 bed on this road sold for £165000 a month ago, technically this is a 3 bed but in reality its a box room, a chest of drawers,cot and a chair that is about all you can fit in there.
Totally forgot about overdraft

Will ring virgin tomo and find out when 0% runs out, good news is that i can make over payments on the loan, which i hadnt realised, so may concentrate on that first, does that seem sensible ?
Will make efoorts to talk to ex about payments, as iearnmore than him i feel a bit asking him for money but i suppose i need to see it differently
will keep you posted.
thanks for all the advice

lika_86

I know you said you don't want to go down the CSA route but why not speak to your ex and see if you can come to some agreement whereby he will pay for certain things to do with the kids, ie the swimming lessons or other entertainment things for them. You say he's a great dad so hopefully he shouldn't mind that. I know a lot of men feel child support often goes to subsidise their ex's life but if he can see a direct benefit to the kids then it won't ruin his relationship with them. They're his kids too and you shouldn't have to cut back on things for them (eg. the swimming lessons) because things didn't work out between you both.

MrsTinks

If you annual income is £36500 then your monthly take home should be higher! About £2256 or there about (obviously need to take off for child care voucher but that atill doesn't explain the short fall on the salary.

As for you earning more... I'm sorry but you need to get over your issue with him not earning what you do... Legally there is an amount you are entitled to - this is not for pretty shoes or party dresses - it's to help you pay for clothes for the kids, to feed them, keep a roof over their heads and such small things... £100 a month (sporadic) is nothing... say he was on £30k he'd be required to pay around £125 per week for the 3 children. If you don't feel he can afford that then fair enough if you can afford to go without.
But look into what you would be entitled to and get him to agree to a more formal arrangement. This isn't for your benefit or his - it's actually for the kids. With the house the size it is there will also be a day when you need a "proper" 3 bed house... you can't keep the baby in a cot forever and you need to plan (I appreciate it will be a few years probably - my 2 1/2 year old is still in her cot bed very comfortably) so look at the long term plan here

Being a great dad ALSO includes helping to provide for them...

mazzymoo3

sorry been off line... been going ebay crazy selling anything that moves .
I am going to do a new SOA.
my annual salary should be higher but there are aot of deductions ie pension, company club ( which i will be stopping incidentally).
i really hate asking ex for money but the above comments have stirred something in me.
The new year swimming bill has arrived £68 for DD1 and £103 for DD2 and ex will pay half.:)
house insurance doesnt run out til aug can i cancel half way thru the agreement?
I have stopped giving childminder money for activities for baby
next thing is to open the accounts for mot, insurance etc..
starting to feel in control and not so scared of being a single mum yay!!