To wonder how I’ll ever have more money

[Imustbemad00]

I currently work part time, my work/home life balance is good because I’m able to do the school run. I’m a single mum if that’s relevant.

The problem is I want more, for the future. More challenges for myself. Something I can take pride in. But ultimately, more money.

I’m thinking of fitting more studying around my PT work whilst I can. This will be a huge strain emotionally and I will find it really hard to balance, work, kids, running the home and studying. I therefore only want to do it if it’s really worth it financially in the long run. Obviously I’ll get a loan to pay for it, so there’s that to factor in.

I’m not 100% sure what specific job role I want to do but I know which area. Starting salaries are around £24000, only really rising significantly with supervisory roles which I may never get.

I’ve just worked out using online calculators, that if I earn £25000 (assuming I’d get no benefits too up) it would be equivalent, after tax, to what I get now working part time with benefits, paying no tax, with half the amount of stress and student debt.

What’s the point in putting myself through 2 years of that, then working full time, struggling to manage home life, all for the same monthly wage. Actually less after paying for childcare that I don’t need now.

I just want to be able to earn more money but don’t know how. I feel I’m stuck in a rut and can’t see any logical options.

What’s the point in putting myself through 2 years of that, then working full time, struggling to manage home life, all for the same monthly wage. Actually less after paying for childcare that I don’t need now.

The point is that your benefits are going to be changed to UC shortly and you'll have no choice but to be seen looking for at least 35 hours/week of work or face sanctions.

The point is that your benefits are going to be changed to UC shortly and you'll have no choice but to be seen looking for at least 35 hours/week of work or face sanctions

^ this is only for people who don’t have any children under 13. To be fair most people who have kids over 13 are capable of working 35hrs or more a week

@TheBigBangRocks
Not sure if you was having a dig, but I do have pride, work satisfaction and am a good role model to my kids. My kids saw me work really hard to get my current job, I work really hard when I’m there, it’s stressful and I do have a wage. Yes I get universal credit top up but to be honest if my kids understood I think they’d appreciate the time I get at home with them too. If I went full time now we’d have less money and see less of each other.

24k starting salary could be 26k after a year, 35k after 10 years etc if there's room for progression.

Some really good advice and a lot to think about, especially thinking about my future once children are grown up.

I work with children, that’s where all my experience is so would like to stay in that field. Just unsure what direction to go in and how to increase earning potential. I’m very low paid at the moment.

My money with benefits isn’t equivalent to £25000, but is roughly equivalent to a £25000 wage after tax. My wage is only about 30% of my monthly incom.

^ this is only for people who don’t have any children under 13. To be fair most people who have kids over 13 are capable of working 35hrs or more a week

Even so, everyone will be moved to UC, which is far, far less money than TCs so it's in her best interest to try to get better-paying work now because that train is coming to an end.

@PlumpSyrianHamster
I’m already on UC

That alone should be inspiration enough then.

Your kids won’t be children forever, you’ll have money when they grow up

@PlumpSyrianHamster
To be fair I haven’t had any bother with UC. Not all the horror stories you hear.