Hi everyone,
Im searching for some help from single parents who are in a similar position to me & can offer a little advice.
I am in the process of separating from my husband & have just applied for universal credits to help financially. I am self employed & run my own events catering business alongside being a pretty much full-time stay at home mother.
From what I understand I will need to submit an income in/income out sheet for universal credit each month & then for every £100 earnt £63 will be deducted from the credits.
I can understand this in theory but struggling to figure out how it works in practice regarding budgeting & setting an amount the father of my children will need to contribute each month.
Some months I can have a good income but I tend to squirrel this away to help cover the less that good months but if my credits are reduced rather than saving I’ll be spending everything I have earnt. And so what happens in the months I don’t earn as much? Is it best to base my ex-partners payments on the amount I’d get from universal credits were I to have a month I don’t earn anything in?
Can anyone help?
Thank you x