Currently trying to figure out life in general, and more specifically work/life balance, and would appreciate any thoughts...
I'm a single parent to a 1yo. Without getting into specifics, there is no possibility of any maintenance; finances are on me and this will not change.
Have been back at work full time for a few months and it's going... eh. I live in an area where wages are generally relatively low, but my job is actually quite well paid. I would be very unlikely to get another job that paid anything like the same amount. It's quite emotionally draining work in general, and although I enjoy aspects of it there are others I'd happily see the back of. It's also changed quite significantly recently which is inevitably unsettling.
My mental health seems to have taken something of a nose dive and I'm not sure how tenable the above is - I'm not performing well at work, have no time for myself, and am just generally plodding (at best). I'm therefore toying with the idea of making changes to make things a bit more balanced.
Currently live in a perfectly decent, relatively cheap 2-bed flat in a nice area. The mortgage payment is affordable (about 20% of my current take home pay) but it's the financial commitment I focus on most in items of 'what if?' worries.
I have a chunk of savings, about half of which is a sum gifted to me by family to put towards potentially moving up the property ladder a bit - however this currently feels very unachievable and not like a particularly good idea.
I would, if the family member who make the gift was okay with it, technically currently have enough to pay off the mortgage completely. If I did so, I'd be left with only a small amount of savings for emergencies, but my outgoings would be a little lower (and the most mentally pressing cost would vanish). In that scenario I'd potentially then be able to think about either reducing my work hours, and/or looking for another job entirely which would almost certainly pay less, but might be more manageable. I'd also, because i wouldn't have the same amount of savings anymore, be eligible for substantially more assistance with childcare costs - which take up a much larger chunk of my current budget then the mortgage does. So although I'd be earning less, I'd have a really secure place to live, and my actual day-to-day finances wouldn't be wildly different than they currently are. However, I'd have very little prospect of being able to build my savings up further, which does feel a bit wobbly.
I'm conscious, though, that I'm currently pretty anxious and depressed so I may not be thinking all that clearly, and may just be seeking an escape route. That said, balancing out work and life better might be really helpful in stabilising my mental health. Or, it might leave me just as anxious and depressed, but ultimately worse off! Any perspectives would be appreciated.