- The number of single parents in the UK is increasing all the time.
- Divorce rates are on the up, marriage in the first instance is becoming less popular and children who move between two homes is becoming part and parcel of modern day society.
As part of this change in social trend, is the increasing existence of the single father who takes on the full-time responsibility of raising the children.
According to the Office for National Statistics, in 2009 there were 200,000 lone fathers in Britain, compared with 1.8 million single mothers, but it is single fathers in the UK who now have the higher rate of increase of the sexes.
No matter whether the single parent is male or female, it is clear that the reliance on one salary can take a significant strain on any one individual. Balancing the needs of full or part-time employment alongside paying the mortgage, insurances, utilities, communications and childcare costs can be a real budget killer, and that’s before any consideration has been made for having that well-earned break from the kids for a bit of personal relaxation and indulgence – even if that’s fitted in whilst the kids are at swimming lessons!
With the role of budget-keeper traditionally falling to the parent who stayed at home to raise the family, it is perhaps the single father that is least well equipped to balance all the various asks of his skills and experiences. Sure, bringing home the money for food may be a role he is familiar and comfortable with, but what about household budgeting and making sure that all the supplies are there for when the children are sick or invite their entire classmates around for a sleepover!
- Modern day life can be expensive and when you take on all of these responsibilities, it is easy to forget that you do still need to make your books balance.
With the recent proposed changes to the Welfare State, it may also mean that your income is about to take a dip. Traditionally, whilst the man of the house might be involved in the key financial decisions, it was the female influence that developed ‘pots of savings’ – small amounts invested with different financial institutions, saving for holidays, school uniforms, a new handbag and the Christmas bills. In neglecting to pay attention to these key subsidiary savings, it can mean that there is less of a cushion available for times of struggle, such as a pay-freeze at work, rising heating bills or worse still redundancy.
- Do you identify with these trends and these issues?
- Is this something that keeps you from getting a good night’s sleep?
Then a conversation with one of Lewis Alexander’s debt management specialists could be the springboard for you to a more balanced home life and an improved ability to ensure you obtain a strong financial footing that allows you to provide the best for your children.
- Call Lewis Alexander FREE and in confidence today using 0800 018 6868.
They will offer you a financial healthcheck with a trained debt specialist. Lewis Alexander can review your incomings and outgoings to help you understand where you might need some expert help.
Whether it’s a debt management plan to help repay some of the unsecured debts that have mounted up or to help with the everyday expenses, or simply some help to better understand when your financial pressure points occur each month.
Our professional debt management advisors are ready to take your call now, so contact Lewis Alexander on 0800 018 6868.
