SOA if I go it alone

missbiggles1

anna_m wrote: »

Really, most people I know who are divorced claim it - I chose not to personally, it wasn't about the money....

You must know lots of women divorced from rich husbands.:D

When I said rare, I meant in more ordinary circumstances.

missbiggles1

chelseablue wrote: »

I think I would be entitled to tax credits to help with the childcare, but aren't they cutting the tax credits from April?

https://www.gov.uk/childcare-costs-for-tax-credits

chelseablue

I did the tax credits calculator online and it came out that I'd be entitled to £380 a month, until April.


I presume this would then be cut from April when the changes come into law?

missbiggles1

chelseablue wrote: »

I did the tax credits calculator online and it came out that I'd be entitled to £380 a month, until April.


I presume this would then be cut from April when the changes come into law?

http://www.employersforchildcare.org/news/article/what-are-the-changes-to-tax-credits-and-how-will-they-affect-you

chelseablue

missbiggles1 wrote: »

http://www.employersforchildcare.org/news/article/what-are-the-changes-to-tax-credits-and-how-will-they-affect-you

Thank you, but I cant work out how much I would be entitled to from April.


Will it be a drastic cut from £380 a month?

FBaby

The cost of the mortgage, is that for you to remain where you are and pay the full mortgage?

Is your home newish and do you have a garden? I found that I had many expenses relating to the maintenance of my home that I hadn't factored in when I became a single mum.

chelseablue

FBaby wrote: »

The cost of the mortgage, is that for you to remain where you are and pay the full mortgage?

Is your home newish and do you have a garden? I found that I had many expenses relating to the maintenance of my home that I hadn't factored in when I became a single mum.

Yes that is the full mortgage payment I would have to pay


No it's not new (built in the 70's), it's a flat so no garden, just a communal one

rockm87

Do you have £164 left over? I know it is only hypothetical, but have you accounted for every cost?

If you were single, would you want to stay at home alone without any additional entertainment? You know...few bottles of wine, or a new hobby which could cost money. I know it is difficult to think of this for the moment, but you would need a 'fun' account for extra things you havent though of.

And you would need an emergency fund, just in case! very important.

missbiggles1

rockm87 wrote: »

Do you have £164 left over? I know it is only hypothetical, but have you accounted for every cost?

If you were single, would you want to stay at home alone without any additional entertainment? You know...few bottles of wine, or a new hobby which could cost money. I know it is difficult to think of this for the moment, but you would need a 'fun' account for extra things you havent though of.

And you would need an emergency fund, just in case! very important.

Unless I'm misreading it, the OP has assets of over £42K.

Vikipollard

Wouldn't your OH want his share of the equity and savings as well ? (Your signature says £113k equity and £47k savings). How would you sort that?

Don't assume he would have to wait until your little one is grown up.