Money often becomes a bigger concern when you live apart or separate from the other parent. Children can be at risk of financial hardship when parents live apart. This may be because there's only one income coming into the household, or because you need to pay for two homes instead of one. And it can take time to put in place a child maintenance arrangement to provide for your child.
When you or the other parent are worried about money, it can be more difficult to arrange child maintenance because you may have other concerns and your priorities may be affected. This is why it's so important to start to deal with any money worries you may have - so that you can focus on providing for your child's wellbeing.
If you are separating or divorcing from the other parent, you may need to accept that your lifestyle will change. You'll need to make arrangements for dividing your assets and reorganising your finances, and if you're living apart from the other parent, you'll need to keep control of your own finances. Also, consider making a budget so that you can always look after yourself and your child.
Download our Money and finances [PDF 593KB]
leaflet to get
information on financial decisions and possible sources of financial support to
help you through difficult times. The leaflet also emphasises the importance of
keeping control of debts and it offers steps for dealing with debt problems.
Find out how to plan financially so that you can minimise your money concerns
in the future.
Financial arrangements can seem daunting and complex to deal with. But understanding your options and knowing how to organise your money will help you plan for you and your child with more confidence.
