Can I make ends meet? Feeling bit scared

[Earlgrey19]

Just in early stages of thinking about divorce. Haven’t told DH yet. Worried about supporting myself and kids. My income is going to be at most about £28,000. If we split house equity 50:50 after sale of family home I’d get about £300k, though I might be entitled to a bigger share as DH earns £70,000. Housing is really expensive in our city. I’d look to buy, maybe with small mortgage. DC are 5 & 3, I will have them at least 50% with me, hoping for more residency with me.

Can I make ends meet? I guess I wouldn’t be entitled to benefits given the house equity?

Thanks.

Yes you could

Yes, easily

I'm sure you will be fine. You will get child benefit?

I don't think you will be entitled to anything else but worth doing a calculation with the turn2us website

Will you be expecting any child support from Their father. Even with a 50/50 child care arrangement I understand that if his income is much more than yours there might be some entitlement. Again worth checking with the CMS calculator.

Will you have childcare costs and how will these be covers between you and their father?

You cut your cloth as to what you can afford. Shop around for utilities. Second hand where suitable. And budget.

That ought to be doable - even if you ended up with a 50-50 split of childcare and no child support. You could easily borrow another £80-100k on that salary, though the less you borrow the better. Try to ensure that whatever child residency pattern you end up with fits with your work commitments, to minimise spending on paid childcare.

Though you will have a lower standard of living than you're probably used to on a household income of nearly £100k. There won't be a lot left for foreign holidays, etc.