Thoughts on my budget please

[rudehealth]

Recent divorce to high earning ex (£150k plus £65k bonus).

I won’t bore with detail re reached agreement ie I got the house (lots of equity) but don’t touch his pension etc)

My question is - what do you think of this..

Income £28,200 maintenance from my ex
Child benefit £1668
Child tax credit £5748
Total income £35,616
Monthly £2968

Mortgage £802 per month
Gas and electricity £80
Groceries £30 (not a typo. Aunt pays)
Holidays £5000 annual so £416 a month
Petrol £80
Insurances £220 (car home life health)
Council tax £18 (subsidised)

I can’t put a figure for clothing because it varies. One month nothing, the next £400 (winter coats and boots for example). Over the year I estimate £3500

Miscellaneous?? Stuff for house (off bit furniture / twice yearly carpet clean etc. Really no idea - £2000??

Entertainment: £1000??

After school activities (£1250)

Anything else?

2 children (5 and 8) plus one adult

It’s written once to our Financial Order

To continue until my youngest is 18 (she’s 5).

Sorry, it’s written in to our financial order

Which is the legal document attached to the divorce detailing the financial agreement

When I say lined one up already, I don’t mean i already have a cleaner
I mean I’ve signed up to start in November

I agree this is a wind up thread. It’s certainly wound me up that my taxes go towards paying for this family when between the Mother and Father they can clearly pay for their own children. Good grief then we have a system as well that pays for single mothers to have 6 kids without any fathers. I truly despair.

This is a joke. The 5k holiday budget was a clue [santa]

AS a lone parent will you get free school meals?

Green - not when I return to work
At the moment, yes

Seriously op, you’re probably winding up a lot of people here. Free school dinners and a cleaner added in to the mix?!

i do think this is a wind up thread. 5000 on holidays, 3500 yearly on clothes, winter coats and boots? come on!

I don't find this kind of budget a 'wind-up'. Surely all the state support / child tax credits etc. will go once the OP stops working?

The numbers involved seem reasonable, though. We did a week of skiing at £2k for a family of four - but you do have to work damn hard to get it down to that figure!

starts working, sorry.

Exactly leafy
Once back at work and after transition period, huge drop in benefits.

Cleaner only when back at work

Bear in mind that less than two years ago I was part of a family of 4 with an income of £150k and bonus of £65m

Probably why my spending a little on the high side. It’ll adapt with time!

£65k!

I wonder if this is one of those right wing public opinion shills intended to wind people up into thinking that child maintenance should be counted for benefits. One of the reasons I believe it is not is that when the State clawed it back pound for pound there was no benefit to the children and separated/divorced couples would make side arrangements as it was seen as not "worth" paying.

When you posted your figures and asked what we thought of your budget, what sort of answers were you hoping for? What was the reason for posting? You aren’t struggling at all so I’m confused as to why you posted other than to annoy people.

OP have you considered what you will do if your exHs income drops significantly over the next 13 years?

Perhaps put some money by so you can keep paying the mortgage and everything else, but what would happen if he died next week for example?

Is there life insurance that till pay out so his DCs can stay in the family home with the same standard of living until they are 18, which is basically what the maintenance payment is designed to ensure, for all those who are jumping on the OP.

GF

Christ, it's really not goady. It's a question about planning to re-adjust to a new level of income. Leave off the OP, she's just planning her future, including returning to work.

Lots of nastiness on here for people who dare to have a decent income. People should be allowed to have money without being berated for it, surely.

Thank you leafy
I’ve been out of the work place 8 years.

Since divorce first time I’ve managed a family finances. I came on to ask for assistance, which has been helpful. Thank you.

I am perplexed that people think stealth boast. The figures are comfortable certainly, but hardly crazy by any stretch of the imagination for three person family in extremely expensive part of the south east.

As for the benefit situation, do posters really expect me not to claim what i am entitled to? Never. Going. To. Happen. Once back at work, will reduce significantly. Until then, they are a big help.

Doing my budget now. One for now and one for beginning of December when meant to be returning to work. I’d forgotten commuting train travel.... £4K annual!

I have gone from not having to think about money in the slightest

To a single mother of two young children, no family network around me and an ex, who I get on very well with, but has made clear that As divorce was my decisions - I am to never seek his guidance or help on anything other than the children.

I do get the frustration re CM not being factored in to benefit calculations

But it is. And I am entitled to it.

It’s a hard life, isn’t it?

I don’t think you should be entitled to tax credits when you get £28k net maintenance.

I Work full time and earn £35k gross with 2 children and I’m not entitled to any tax credits.

However where the Government draws the line as to who should and who shouldn’t I don’t know.

I can’t bekieve you get free school meals on £28k maintenance.

This must be a wind up daily mail tread.