Oh my lord I just can't afford it.........

Hi,

I'm looking for some advice on the calculator that has scared me to death.

Basically I take home about £2K per month and have £100k's worth of assets.

We have a daughter who is 5 and have been married for 8 and a half years.

My wife doesn't work and this is one of the reasons why we have split up, as we agreed she would go back to work when my daughter was about 2. In short I have been trying to get her to go back to work for the last 2 years or so with no success.

The calculator is telling me she is entitled to 70% of the assets and I have to support her and my daughter somewhere in the region of £1k per month. (whilst I want to support my daughter I didn't want to wholly support my wife even whilst we were together as it was somewhat of a financial struggle living in London).

This means after paying my bills, petrol etc etc I will be left with about £100 per month. I work 65 hours a week...... for £25!!!!! Dole queue here I come.

Any ideas, calming messages, noose....

Hi, don't think it is quite as scary as that.

Firstly, child maintenance would be calculated by the CSA (not that you have to involve them unless your wife is going to be claiming benefits) as 15% of your take home pay.

Your wife, as she doesn't work will be entitled to full Child Tax Credits and Child Benefit.

Once you know how much this is, a rough guide (and understand only a rough guide because there are other factors to take into account) your wife may be entitled to about a third of your combined income (that includes her benefits but not Child Maintenance and your take home pay before you pay CM - I am sure someone will correct me if that bit is wrong).

Obviously other factors will include what happens with the FMH and any pensions etc, but use that as a starting point. Maybe if your wife sees how much she may NOT get, she may re-think the going back to work. If she was to work 16 hours whilst your daughter was at school she would get a better deal with benefits because she would be entitled to Working Families Tax Credits instead.

Hope this has helped.

Regards, Sarah

Don't take my word as gospel, just experience.

Andy, in arriving at an assessment it is important to keep in mind that spousal maintenance (paying for your wife, not your child) is based around the needs of the individual AND the ability of the other to pay. Child maintenance is 15% of your nett income. (c £300 per month)

Yes, money will be tight, but no court or mediator is going to leave you destitute.

Also, your wife has to recognize her need to contribute to her own costs, and go get a job.

It's grim , but not life threatening andy. The calculator is a guide - every circumstance is different.

Best of luck
Mike

Thank you Sarah,

I think I may have time to wash the petrol off me, as long as i don't get too close to that fire just in........WHOOSH!!!!!