S4: E2 Managing your finances as a solo parent

The Stork and I

In today's episode of the podcast I chat to George Agan. George is a Chartered Financial Planner. He runs Principles Personal Finance which is a financial education site. He also has his own YouTube channel. I often get questions about finances from people who contact me and I didn't used to feel properly equipped to answer in depth enough, and this episode helps to provide some further clarity. In todays episode we covered: - The cost estimate of having children - How to bring clarity to your own financial situation - Adopting a renting methodology to save money (and the environment) - What amount of savings you might need to feel secure - What levers you have available to help manage your budget - How you can get creative to help your budget - Why planning is everything - How to plan for the worst case scenario - The importance of Power of Attorney and having a will - The 3 golden rules of personal finance RISK WARNING The views stated in this discussion are for informational and education purposes and should not be viewed as advice. The information provided in this presentation has been compiled from sources believed to be reliable and current, but accuracy should be placed in the context of the underlying assumptions. Any views stated are individual. All content is being provided for informational purposes only and should not be considered to be investment or tax advice. No financial or investment decisions should be made solely based on the information in any podcast, blog or video. Some of the useful links we covered in the podcast are below: General Support and Advice https://www.citizensadvice.org.uk/ Benefit Entitlement Contacts https://www.gov.uk/benefits-calculators https://www.entitledto.co.uk/ https://www.turn2us.org.uk/ Charities for Housing Concerns https://www.shelter.org.uk/ Charities for Debt Management https://www.stepchange.org/ https://capuk.org/ List of some benefits single parents should be aware of https://www.singleparents.org.uk/information/benefits/financial-support-for-single-parents https://www.gov.uk/get-tax-free-childcare https://www.moneysavingexpert.com/family/child-benefit/ https://www.moneysavingexpert.com/family/tax-credit-child-working-overpayment/ Study referred to in the conversation https://cpag.org.uk/sites/default/files/files/policypost/CostofaChild2020_web.pdf