Morning all,
I'm thinking about the future, I myself like to be prepared.
I'm a single mum to one 4year old with very causal work and $40k in debt.
My question is how do single mums with one child over the age of 8 survive?
When my child turns 8 I'll loose parenting payment and I assume I'll go back to Newstart which means I'll loose a fair bit,
Do I scrimp and save now, hoping that we will be alright?
I'm studying part time so I'm hoping I'll have a better chance at finding work when I have completed my study.
Does anyone have any tips at all?
We live minimal and do have the occasional treat.
Thanks x
4 Replies
Plan on having a job. The drop to Newstart is tough. Id start aiming to have work when your son starts school, even if it's not in your dream career. Getting that debt paid off will make a huge difference as Newstart really does make things a lot tighter. Regular Part time job/part Newstart is doable compared to just Newstart.
If a good job comes up early I'd take it.
Youll have two years where hes at school and you can work without paying childcare, i would start saving then. And youll be available to work more without paying childcare, i would think it will work out.
As well as looking at increasing your income you could contact a financial counsellor for help; it's a free government funded service nd they might be able to help you reduce your debt. They can also check that you are getting all the concessions that you are entitled to to reduce your bills. Call 1800 007 007 and they can link you in with someone locally who can support you.
With a debt that size I would seriously consider declaring bankruptcy to be honest. And do your best to find work, it's hard but it's better than struggling week to week.