Help! Can a family of 4 live on £50 per week after all bills/food?

[Ellierose1989]

Hi everyone!

I would really like your help! I’m looking to become a SAHM. We have a 4 year old daughter and 10 month old son. We will live off my husbands wage (no benefits other than CB) after all the food and bills are paid we would have around £50 per week left for everything ie. groups, clothes, treats, to save for emergencies. I should add that I am unable to get our bills down any more and don’t have unnecessary outgoings they are just high due to mortgage/debt. Can I ask what you have left after all outgoings and if this is doable? I know everyone lives off different amounts but I would just like to hear your experiences. I would look to return to work in a couple of years so it wouldn’t be forever. Thanks everyone! Xx

You will be with the children far more than you are at work. 3 days a week to get you in a far more financially secure position definitely sounds worth it.

@StoneSourFan thank you for sharing your situation. I would also be working mom/wed/fri 25 hours per week and leave early on a Friday. I work in a office in customer services and they have been really reasonable with me and I can change my hours etc as the kids get older etc. I think it’s just in these uncertain times I’m just nervous returning to work and leaving my baby in childcare etc when he hasn’t seen anyone but us! He will be one aswell when I return. I know I’m actually lucky to be able to return 3 days a week and still have time off with them. I think I just need to think positively about returning as someone else has said I wouldn’t want the financial strain on us to affect our mental health and relationship. X

I don’t have £200 after all expenses, it’s possible if you’re careful and look at a monthly budget. You might be able to reduce any debt payments further based on income. If this is temporary- for example you will think about returning to work when you can get 30hr funding toward childcare - then the short term struggle may be worth it.

There may be some help from the government, depending on his earnings.

If you return to work will the extra income be eaten with childcare costs? If staying home is what you want to do then it may not feel worth it, different if you have a career you’re desperate to get back to.

I'm a single parent. And after all my bills and food I have £50 a week in my purse for birthdays. Hair cuts £1 for this and that at school. It is gone in a day. It is a real struggle. My parents pay for school shoes and uniform for the kids. And other family help with hand me downs etc.

When I get any child maintenance that covers bigger things. MOTs etc. But as I have only had 2 payments in 2 years it isn't reliable. Another story.

I have a loan that finishes in 3 months. That is going to make a massive difference to my situation. So I know the end is in sight.

I work three days. And it is perfect. I love the balance it gives me and I am very fortunate I can

Are you considering nursery or child minder for child care. My child minder is lovely. And much cheaper. I would also consider maybe working a night or one day around your DP. Would that bring in the same £100 a week that working three days and covering the costs would?

Just from someone who has no money for anything extra than essential, its extremely hard. Doable but very hard. Even if I had an additional £50 a week to live on for other stuff I think it would be hard. Outings are expensive, school always ask for money, there are school trips and birthdays and celebrations etc, and when something goes wrong in the house or and appliance goes bump its rarely every going to cost under £50.
I have been paying off a large sum of debt left my my ex partner all ran up in my name. I am a single parent, working 30 hours, no help from his Dad and when all Bill's and debt gets paying I am left with under £200 a month for fuel and out food. There is me and my son and our dog at home. We have lived like this for nearly 5 years now so it's perfectly doable if you are willing to be very strict with yourself however it is no fun constantly worrying how you are going to find the money for things the crop up, which happens alot.

Good luck

Hi, maybe fill this out, be really sure of what you are spending.Three days sounds good- at home more days than at work, adult company, keeping prospects of employment open for furthur down the line, pension, etc etc.Good luck

www.lemonfool.co.uk/financecalculators/soa.php

3 days a week and you would have 150 pound week extra, well that’s 600 month, it’s a no brainier

Three days a week in a flexible employer is really worth holding out for, not just for the money now but also for the money later. Childcare bills will reduce, bills will go up, but you’ll have more flexibility about what to work. And It’s much easier finding a job when you’re in a job rather than when you’ve not been working for a bit.

Some really wise words here. @Ellierose1989 I totally understand your hopes, but tbh because you have debts and not savings behind you, honestly 200/month leftover is going to very quickly cause problems.

You need to pay off debts, have an emergency fund for income replacement, and another pot for the everyday emergencies that arise (boiler, car etc). If you had all that then you could probably swing it, but you don't.

Big question, when will additional debts be paid off?

Go back and give it a year and see where you are. Of the 600 left, put 75 into family fun, 75 into an account for school uniform, birthdays, Christmas (and really watch your definition of need vs. want - kids don't need lots of presents for holidays), 50 into a savings pot at home for incidentals and split the remaining 400 into a mix of savings and paying off debt. Do this for as long as needed to get a 3-6 month emergency fund and your debt paid off.

While you are doing this look at what options there are to work from home. Could you child-mind part time? Plenty of people are looking for someone 2-3 days/week. If you have it all set up, are registered etc., then you could look at giving up other job. You'd save on childcare too.

We don't need hoards of money, but the worst does happen and we need to be able to protect our families.

Good luck!

No, definitely go back to work and improve your prospects now and in the next decade

Three days a week is a good balance, imo. And if you became a SAHM on such a limited budget it would place a lot of pressure on your DP to 'provide'.

What about working 2 days a week?