Financial Tips for Single Parents
Separating from your ex may open a whole new world to the way you manage your household and the finances. It can feel daunting, rest assured we are here to help.
There are ways you can reduce your costs and look forward to brighter future. Below are just a few considerations, however your wellbeing and mindset is important to us, so please do get in touch if you'd like to discuss further and have a financial health check...
Eliminate joint debt
The quicker the better. Try and work with your ex (easier said than done) or your solicitor to ensure that you both can get on with your new lives as quickly as possible.
Create a monthly budget
Your household income may now look different, so it's important to budget for your outgoings and save where you can for those emergency (and treat) funds.
Shop offers and own brands - a few swaps here and there can make a difference. Batching cooking is often cost effective too.
Time with your children doesn't have to cost money. Explore free local parks, beaches and woods, make crafts from loo rolls and put on some music and create your own disco!
Plan for the future and set intentions
What do you want your future to look like? Try writing in a journal, create a vision board, consider learning a new skill or study for a career you've always wanted.
Check for any entitlements
You might be able to claim certain benefits and financial support. We can advise you on this.
Have a financial health check
Get in touch with an advisor like us to help you map out your finances in a way that allows you to prioritise your overall wellbeing, your happiness, your children and your future.