Managing your household budget on separation

Money Advice Service

Separating from your ex-partner means you will have to make some big changes to the way you manage your household and other finances. It’s often much more expensive for each of you to live on your own than to live together. But there are ways you can save money and reduce costs.

Struggling with problem debt after a separation? Learn more about what help is available to you with our guide.

Why a budget can help

After you separate, drawing up a budget should be your starting point to reviewing your spending.

A budget is simply a record of how much money you have coming in and what is going out each month.

Once you’ve completed your budget, you should have a clearer idea of what you have to live on.

Use our Budget planner to get a sense of your new situation.

Cutting back on your spending

See if you can make any cut-backs from your day-to-day spending. Even a few pounds saved here and there will add up.

Use our Quick cash finder to find out where you can save.

You can also spend less by getting a better deal on things like your shopping.

Find out how in our guide Smarter shopping – tips and tricks to save money.

Saving money on your bills

If you haven’t ever switched your gas or electricity supplier or you haven’t switched for a while, it’s definitely worth doing as it could save you money.

You can also consider switching if, for example, you want a fixed-price tariff.

That way you will know the price you pay for your gas and electricity each month or quarter.

If you have broadband at home, and you have a landline or mobile phone, you might be able to Switch or get a better deal from your existing provider.

Travelling for less

Travelling costs, such as your train ticket to work or the cost of running your car, can make a big dent in your budget.

You might be able to save money on petrol costs, car insurance or train tickets.

Paying less Council Tax or Rates

In England, Wales or Scotland, if your partner moves out and you’re the only adult living in the property, you can claim a 25% discount on your Council Tax bill if you’re the only adult.

You can also claim the discount if an adult lives with you who is a full-time student, a live-in carer or someone with a severe mental disability

If you are on a low income, you might also be able to get a reduction in your Council Tax. You’ll have to apply to your local council.

Find out more about Council Tax reduction on the GOV.UK website.

In Northern Ireland, depending on your income and circumstances, you might be able to claim ‘rates Housing Benefit’ or ‘Rate Relief’.

Read more about this on the nidirect website.

Emergency savings

Even though money might be tight after a separation, it is worth considering putting away some money every week/month as emergency savings. That way if, for example, your boiler or washing machine broke down, you’d be covered.

Learn how to build up savings and how much you’ll need in our Emergency savings guide.

This article is provided by the Money Advice Service.

Some important information about Rest Less Money

We want you to understand the positives, but also the limitations of using our site. We operate in a journalistic manner and therefore all information, guidance or suggestions provided are intended to be general in nature, and you should not rely on any of the information on the site in connection with the making of any financial decision.

When we set out to build Rest Less Money, we wanted to be a trusted place where you could find helpful information about financial matters affecting the over 50s. As a free to use resource, we try hard to provide the best information we can, but we cannot guarantee that we won’t occasionally make mistakes. So please note that you use the information on our site at your own risk, and we can’t accept liability if things go wrong.

Key things to remember when using Rest Less Money:

We do not offer financial advice – As a journalistic site, it’s important to know that we do not provide financial advice. You should always do your own research before choosing any financial product so that you can be certain it is right for you and your specific circumstances. If you are in any doubt, please seek professional financial advice from a regulated financial advisor.

No Liability – please note that you use the information on Rest Less Money at your own risk and we can’t accept liability for how you choose to use the information given on our site. We will often provide links to content or products and services available on other third-party websites. These are provided purely for your convenience and we cannot be held responsible for any content, or any of the products and services offered on any website that we link to.

 

Accuracy of Information – We try to make sure that all the information provided on Rest Less Money is correct at the time of publishing as we want it to be the most helpful resource possible. Sadly, we are not perfect however, and so we can make no guarantees as to the completeness, accuracy, adequacy or suitability of the information available on the site.
Whilst we work hard to try and provide accurate information, deals and prices can change, so whilst they may be correct at the time of writing, providers may subsequently decide to alter them later – so always double check first.

A final note on the Rest Less Community Forums – always remember that anyone can post their opinion on the Rest Less Community Forums, so it can be very different from our own opinion and may not be factual or well researched. Always be wary of any content posted on the forums and be sure to do your own research and due diligence on anything suggested. 

We hope you find Rest Less Money a useful resource and we would welcome your feedback at [email protected] on how to make it even better. For more information on any of the above you can read our full terms and conditions.

Some important information about Rest Less Money

We want you to understand the positives, but also the limitations of using our site. We operate in a journalistic manner and therefore all information, guidance or suggestions provided are intended to be general in nature, and you should not rely on any of the information on the site in connection with the making of any financial decision.

When we set out to build Rest Less Money, we wanted to be a trusted place where you could find helpful information about financial matters affecting the over 50s. As a free to use resource, we try hard to provide the best information we can, but we cannot guarantee that we won’t occasionally make mistakes. So please note that you use the information on our site at your own risk, and we can’t accept liability if things go wrong.

Key things to remember when using Rest Less Money:

We do not offer financial advice – As a journalistic site, it’s important to know that we do not provide financial advice. You should always do your own research before choosing any financial product so that you can be certain it is right for you and your specific circumstances. If you are in any doubt, please seek professional financial advice from a regulated financial advisor.

No Liability – please note that you use the information on Rest Less Money at your own risk and we can’t accept liability for how you choose to use the information given on our site. We will often provide links to content or products and services available on other third-party websites. These are provided purely for your convenience and we cannot be held responsible for any content, or any of the products and services offered on any website that we link to.

 

Accuracy of Information – We try to make sure that all the information provided on Rest Less Money is correct at the time of publishing as we want it to be the most helpful resource possible. Sadly, we are not perfect however, and so we can make no guarantees as to the completeness, accuracy, adequacy or suitability of the information available on the site.
Whilst we work hard to try and provide accurate information, deals and prices can change, so whilst they may be correct at the time of writing, providers may subsequently decide to alter them later – so always double check first.

A final note on the Rest Less Community Forums – always remember that anyone can post their opinion on the Rest Less Community Forums, so it can be very different from our own opinion and may not be factual or well researched. Always be wary of any content posted on the forums and be sure to do your own research and due diligence on anything suggested. 

We hope you find Rest Less Money a useful resource and we would welcome your feedback at [email protected] on how to make it even better. For more information on any of the above you can read our full terms and conditions.

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Join Rest Less Money Club

Helpful tips and guidance for making the most of your money – straight to your inbox

By providing us your email address you agree to receive emails and communications from us and acknowledge that your personal data will be used in accordance with our Privacy Policy and Terms and Conditions. You can unsubscribe at any time by following the link in our emails.

Join the Rest Less Money Club

Helpful tips and guidance for making the most of your money – straight to your inbox

Good luck with your application

Before you go, we’d love to stay in touch to find out how you get on. Sign up to Rest Less today to get free job alerts and inspiring content sent straight to your inbox.
By providing your email you agree to receive emails and communications from us and acknowledge that your personal data will be used in accordance with our Privacy Policy and Terms and Conditions. You can unsubscribe at any time through the link in our emails.