Debt advice for single parents

Single person households make up more than one third of all households in Britain. Living alone is more expensive than sharing the bills. And if you’re a parent, the costs can seem overwhelming.

Single parents

Debt advice centre

According to Credit Action, nine out of ten single parents are on a low income so suffer even more hardship. It can be tough raising a child (or children) alone, but it’s important to stay in control of your finances so that you don’t creep into debt.

The emotional side of money

Money can cause stress. It can affect your health and your relationships, especially if you try to hide your financial difficulties.

If you don’t deal with money problems, they are only going to get worse.

Tips

Don’t rely on credit
Make sure you’re claiming for all the benefits you are eligible for
Keep a budget
Save for tomorrow. It might seem difficult, but it will take the pressure off the future
Cut down on everyday expenses

Maintenance

Child maintenance is a regular payment, paid by the non-resident parent to provide for and maintain the lifestyle of any children in the family.

When you separate from your partner the best and cheapest solution to working out maintenance is to agree between yourselves how much is needed to look after the children and maintain a good family home. If you are divorcing and unable to reach agreement in maintenance then the divorce court will set maintenance payments as part of the divorce settlement.

Another option is to contact the Child Support Agency (CSA). The Child Support Agency can help to make sure that non-resident parents are paying the right amount of child maintenance for their children. It can also arrange to collect payments and pass them on regularly.

To find out how to claim maintenance visit the Child Support Agency website.

Working

Unfortunately, working can affect your benefits. But you may be better off financially if you work, and it’s also a great way to get out and socialise with other adults.

If you work more than 16 hours a week and are on a low income, you can claim the Working Families Tax Credit. This tax credit is available to working families who are responsible for at least one child aged under 16 years old (or 19 years old if the child is in full-time education). You can pick up a claim pack from your nearest Jobcentre Plus office.

Teaching your children value

It’s important to teach your kids about money so they can understand its value and appreciate that they can’t have everything they want. Set a good example by controlling your own spending. And don’t give into nagging.