how would you cope (financially) alone?

missprice

I would cope simply because you just have to.
But on the more prosaic side then I could and would cut out internet/TV and as a side effect TV license . sell everything to do with TVs and internet and use less leccy etc. The mortgage is way less than rent would be' so would keep the house.
Probably take in a lodger.
All in all I would survive until more work or better job came up.

My main thought is that I have done it before and could do it again,only think these things cos we not married and I do worry a bit if he left or something worse.
:rotfl:

System

I think if the time came when I would be on my own i'd sell up and go into rented accommodation. At least i'd have enough money to furnish it how I wanted it.

stir_crazy

Judi wrote: »

I think if the time came when I would be on my own i'd sell up and go into rented accommodation. At least i'd have enough money to furnish it how I wanted it.

Unfortunately, my area is extremely expensive to rent, possibly due to hardly any council properties and also contractors staying here through the week then going home for the weekends. My mortgage for a two bedroom house with large garden is cheaper than monthly rent for a 1 bedroom flat.

daisiegg

I'd be up the creek without a paddle.... My monthly income wouldn't even cover half of the monthly mortgage payments let alone anything else! He has life insurance though and I think there are various other things I'd get if he died. I hope he doesn't though

ETA - I have never had to manage on my own, unless you count uni. I went from my parents' house to my husband's house (how old fashioned!) I worry every day about my husband dying but not because of money...now I can add money to my things to worry about!

System

stir_crazy wrote: »

Unfortunately, my area is extremely expensive to rent, possibly due to hardly any council properties and also contractors staying here through the week then going home for the weekends. My mortgage for a two bedroom house with large garden is cheaper than monthly rent for a 1 bedroom flat.

I'd be in the same boat as you. I don't have a mortgage but have no skills in the workplace or experience either.

I had thought of contractors staying over Monday to Friday (my husband pays around £90 a night board when he is working away) but before even considering that i'd need my sons bedroom and I don't think he is in any rush to move out. I dont need my house to be happy but I do need stability in my life.

aridjis

Not that this is a scientific study or anything, but so far 1 in 6 women have said they don't think they'd cope, and 1 in 12 men.

The majority, happily, think they would and could manage ok!

Brighton_belle

daisiegg wrote: »

I worry every day about my husband dying but not because of money...now I can add money to my things to worry about!

How about making a plan with him to ensure you know you are financially safe if the worst does happen. Work out what life insurances you have and whether they need increasing. He should have insurance that pays off your mtg if he dies , or much more likely gets a 'dread disease'. Once your mtg is paid off, you may need to/choose to down size in order to manage day to day costs.
If you have children, these may need updating to ensure that if either of you dies, mum/dad has enough money to pay for childcare will they carry on working (and the mtg is paid off)

You may already have one, but IFA can be very good and working out these things and getting the best insurances/rates tailored to your specific needs.

hgotsparkle

I wouldn't be ok, OH is the main earner in our house and though theres only the two of us and our outgoings inc rent and all utilities is £700 a month (not inc food though), thats almost my monthly wage! I could do it if I didn't have a car but where we live is in the middle of no where, no public transport so a car is essential, but my car is my biggest expense a month and its only a Micra!

harrys_nan

I live with my partner in his house and pay a sum towards everything into his bank each month, He is mortgage free. but if I was on my own I would have to rent. I would qualify for pension credit, ct and housing benefit help, money would be very tight but I would manage, I did before I met him so would again.
I would also move back to be nearer my family which he doesn't want to move from where we live.

Person_one

Partner or landlord?