Can I ask how do newly single mums handle the financial side of things???
My husband and I split over the weekend. We have 3 kids together. I’m struggling with finances really bad where after putting money for all bills ect aside I don’t even have $5 left. He is helping pay half mortgage and some other bills for the time being. I just can’t see myself getting ahead of these payments. Any advice would be appreciated
8 Replies
I had this problem and the only way to fix it was to go to work full time :( sad buy if I didn't we would have lost the house and not been able to feed ourselves.
How much is your mortgage?? Who has majority childcare as you can claim ftb a or b or both. Then you’ll get child support as well (again assuming you have majority care or he is the breadwinner).
Do you work? Do you pay childcare? Do you have other expenses. It’s a balancing act but you’ll make it work.
Once you have income sorted it's easier. You're not even a week into it so you won't have sorted out Centrelink or CS eligibility yet. Once you know what your regular income is going to look like that's when you can see if you can afford to keep things as they are or do you have to reduce outgoings. Then decide which things will need to go. Keep on good terms with your ex it will make life a lot easier when sorting out finances, who takes what and who pays for what.
It takes time, but you also have to be realistic. The house might have to be sold, and buy something cheaper or rent. Sadly when a split happens the mortgage often becomes unaffordable.
I was newly single on the single parent pension. I had a $1400 a month rental, kept my bills low by not using exorbitant amounts of power and gas. I got rid of my car and walked or caught public transport. I shopped around for specials for food shopping and while i struggled, i lived within a strict budget and for 2 years never once missed a bill or rent. My kids had all the food they wanted and needed, birthdays and Xmas were always special too.
It’s tough, but living by a strict budget is actually really good. I now have a partner and work part time and money is far from tight but i still live by a fairly strict budget and we have quite substantial savings.
I'm in the same position only split a few months ago and I'm lost, really lost. I work part time, can't get any centrelink or anything, I've got a few different accounts one for the mortgage which we both pay our parts into, one for bills (he still helps with shire rates, water rates, car rego as its still his house also and he uses the car when he has the kids) i put as much as I can afford into bills per fortnight to save up for the times I need it. I then have a savings account and a spendings account, I think that is the easiest to work out, meal plan that cuts down the cost for dinners and don't be afraid to have cheap simple dinners. Remember there are people who want to help you and your going to need them more then ever.
Worked part time with 1 day off during the week to organise life and centrelink helped alot plus child support with all that I didn't worry financially. If it not been for all that I would've been able too but you definitely need to work I think to make it comfortably.
i work full time, i was doing 2 jobs (my fulltime job and bar work at night) I was still behind in bills. I have no financial assistance from Centrelink or ex. At the moment i am just living week to week. Some weeks i scrape by for food and fuel and we eat lots of spaghetti. I am hoping things will get easier just have to poke along and pay little bits here and there off bills when i can