Finances

Money worries for any family are a tremendous pressure. As a single parent now it’s up to you to take full control of your finances because no ones going to pay your bills. One obstacle I found is no one shows you or even tells you how to manage this important task. If your deceased partner looked after the budget and finances for the family , wow that is a horrible wake up call.

Main criteria is not to panic because worrying will not change a thing but a DELIBERATE PLAN will save the day. Now your are in control of the money and you can not blame anyone else. Make it your responsibility to learn how to maximise your income and cut your expenditures where possible.

There are many support groups that can help you get through those first difficult days and weeks. Even better still ask a trusted family member or close friend to do it for you or assist you during those first traumatic days. I always looked after the finances in our family, but without any warning my wife died in less than 4 hours of us knowing in hospital. She was in hospital for a week , hoping that she would recover to stable condition.

I was in shock even though deep down I knew she was going to die one day because of cancer. I Remembered during those first few days , I couldn’t remember my address details. Thankfully my lovely sister did all the paperwork help arrange to pay necessary bills. She investigated also what I was entitled too. Most people are unaware of how much money you lose when a partner dies , pretty much instantly. I Calculated approximately due to my wife dying the family lost probably £10,000 per annum. She also had mobility car and within a week they collected the vehicle and we lost all her benefits. On top of all of that her funeral cost where about £3,500 and we never had any savings.


‘It’s not all gloom and doom , you will regroup your finances when you have a deliberate plan in place. I’m grateful we had life insurance in place for us for many years so we didn’t have to sell the house. Another big caution I want to emphasised which I am partly guilty of is ,NOT TO PURCHASE THINGS TO EASE THE PAIN you are experiencing. During the first year, I have to admit , on occasions I was a bit flamboyant about a few things.


FIGHT FOR WHAT YOUR FAMILY ARE ENTITLED TO because your family deserve every bit of help you can claim for. Here is a list for you to maximise your family income in the UK and remember not to leave one stone unturned. This is not a complete list as benefits and charity donations change thier policy’s.


Bereavement Bennett = Lump sum and monthly payments

Working Tax Credits / Child Tax credit ( Universal Credit ) = monthly payments

Council Tax reduction – reduction to your yearly bill

child Benefit = for every child receive allowance

Housing Benefit= Help towards renting

Child care – Help towards cost when you are working

Free prescriptions , optician and Dentist = low income families

Money Management is easy for some and more challenging for others. The Secret is to keep improving this skill and be resourceful and not wasteful. It takes tremendous amount of time to sort your new financial obligations out for your family. Key to this subject and most huge projects are :

SMALL CHANGES WILL MAKE LARGE IMPACT ON YOUR MONEY.

Other Financial commitments
Some of your partner debts can be written off. This is more complex subject, seek legal advice from a professional. Before you rush off to pay your wife loans etc , you may be entitled to write them off.