How to maximise my earnings after divorce

[Shookethtothecore]

Hello,
I have been a SAHP for 10 years. I am in the very early stages of divorce from a high earning husband. I have been applying for jobs but I need to work out what I’m doing without having a panic attack.
im going to need to go on universal credit, but i dont understand how it works and i need to maximise what i bring in. How is it worked out? I’ve got an interview for a minimum wage job 12 hours a week, I’m assuming I can get universal credit with that. I’ve done the calculator online and it’s saying about £200 p/w I’m entitled to.
does it matter what I earn or how many hours a week? My mind is boggled with it all and I’m panicking how I’m going to cope with 3 kids to be honest

How old are your DC, as UC expectations depend on that. also do you have any savings or house equity?

I’m 38. I’m in wales if that makes a difference. No equity in the house.

Sorry no savings either.

How old are your DC? There are minimum earnings/hours unless your DC are very young.

I’m 38, and my children are 10, 6 and 4 (but the eldest in the year so doesn’t start full time school till September)

What did you do before chikdren?
can you go back into it ?

I think you extra UC for each child. Just apply and go to your appointment and they will help you work it out. You can also get money towards childcare and money off your council tax.

If your husband is high earning won't your also get child support and assets from the marriage?

in the context of a divorce maximised income means you are working to the top of your qualifications for the most amount of hours you possibly can. And although that seems straightforward it often isn’t. A divorce means both parents need to take on homemaking and bread winning roles. At least for good parents this is what they should be doing.

This means a change in the roles agreed in the marriage. Bread winners may need to step down work commitments and homemakers may need to step up their work commitments. Both parents might have conflicting opinions on how this works. Leading to squabbles over co parenting and child care.

I think some parents make poor choices influenced by short term objectives when deciding what they do. Some men will sacrifice time with their children to maintain or progress careers because they are focused on long term financial stability. Some women do the opposite. Really there is no reason not to aim for something in between for most people.

At the moment your life is focused on being a parent and your children palpably need hands on parents. That doesn’t need to be 100% you doing the hands on stuff.

In ten years time they will be progressively becoming more and more independent. You will be relatively young and staring down the barrel of 20 more years until you get a state pension. Thats when you may regret not securing yourself a career that enables a better financial future. Or you could be ok with that. 🤷‍♀️

IMO I would think about what you need to do now to take you beyond minimum wage and UC (which tapers and ends as your children grow up). Because minimum wage jobs are often the most demanding physically with little mental reward.

Have you calculated what CMS you can claim from your high earning husband?