What are my options here?

[Againsttheflow]

As a single parent and home owner I'm struggling. After all the months direct debits have gone I'm left with £400 for the month which has to pay for food, commuting and emergencies. I have no debt and I'm on £40k with mortgage payments of £900pcm. So on paper I'm in a good place but in reality I'm anything but.

If I sell up I'll have too much in savings to get help with rent (that's if I can find a place to rent, plus rentals start at £1200 for a 2 bed here). There is no ability to increase hours and I'm trying to change jobs to increase my earnings potential with no success so far. What exactly are my options here?

Can you give more info, as you should have more left over.

Is everything on the best possible rate ?

what are your childcare costs ?

the only thing you could do is get a lodger, a Mon to Fri one would be best.
or if near a hospital you could offer lodgings to students on placements

You could consider extending the te of your mortgage to reduce the payments - at least get some quotes.
Or you could go interest only for a while until interest rates drop.
Or you could go through your budget in detail and economise if you haven't already.
Taking a lodger would be tax free cash.

Don't sell up. It won't save you anything.

Do not even contemplate selling.

What are your commuting costs, how old is your child, what CM do you receive if any and have you looked to see if you are entitled to any sort of benefits.

£40k should give you about £2100pcm net (assuming 5% pension contribution).
Less £900 mortgage it's £1200pcm. Where £800pcm going that you only have £400 left? childcare? if not, it sounds very high. Do you get council tax discount?

Agree that you shouldn't sell and rent if it can be avoided. But is moving somewhere cheaper/smaller an option?

When you say you're left with £400, does this need to cover annual/irregular essential costs like car repairs, insurance, MOT etc? So in reality your disposable income is very low?

Can any of your costs be reduced - insurance, cancel subscriptions/pay TV/mobile costs etc? Do you have any debts, car payments etc, and when do these end? Do you foresee any increase in your income, eg a promotion?

Is a second job, lodger, doing babysitting etc an option?

I'd start by looking at all the direct debits, and checking all are essential, and as low as you can get.
Are you getting the best childcare rates you can - and benefiting from tax free childcare, and any other discounts and incentives available? How long til childcare might reduce ie starting school or able to walk home and let themselves in?

Is child maintenance being paid? Might that increase your cash availability? Or will it never arrive, even using whatever the CMS is called these days?

If you are paying childcare then you may find that you are entitled to some universal credit.

other than that it’s probably a case of looking at your expenditure and working out if there’s any way to cut or reduce anything. Subscriptions, gym membership, mobile phone, insurance, switching to a cheaper supermarket, etc.