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  1. #1
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    Default Cost of living calculators?

    The husband and I are doing a 6 month separation. He moved out a few weeks ago. We won't be doing an asset split at this stage so we currently have our incomes going into the joint account to pay the mortgages and all that goes with them.

    I currently receive FTB and Child Support entitlements have been provided. ex says that we should each take an equal "allowance" from the joint account to cover day to day costs. But really, even with child support coming from him, my expenses would be much higher than his but I don't know what sort of figure to come up with. Kids are 1 and 3.

    has anyone gone through this and came up with numbers? While it would be great for my income to go straight to my account I'd hate our joint account to deplete and the bills/mortgages go unpaid.

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    Default Cost of living calculators?

    Can you open your own account and have CS and ftb payments go to that, and transfer funds to cover mortgage etc? What's the point of him paying CS and you getting ftb if he gets half?

    It does sound a bit messy. I'd be seeking advice from a financial advisor and/or lawyer.

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    HugsBunny  (17-02-2013)

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    Thanks for your reply. CS and centre link do go into my own account but both our wages still go into our joint account. I'm trying to work out how much extra I need hence the "allowance" to be taken out of our joint accounts.

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    Atropos  (18-02-2013)

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    Default Cost of living calculators?

    In that case, without knowing all the figures etc- I can see why he wants an equal amount- you both get x amount, but you also get ftb and CS to care for the children. In reality, this might not be enough. Can you work our what they cost each week, ie, day care, food, nappies if using them etc? Factor in your bills (work out an average from previous ones) and go from there?
    Last edited by Atropos; 18-02-2013 at 10:20.

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    Default Re: Cost of living calculators?

    I don't have anything to add that might help you. Thought I would give you a laugh though.

    I saw this thread title without reading the actual thread yesterday and had been trying to work out what a "living calculator" was. There I said it. By the way I just had a lightbulb moment. Until then I thought it was a wacky new term for an accountant or something.

    Sent from my magical black talky thingy using bubhub

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    Lol my dad is a living calculator- sprouts calculations like nothing I've seen before

    I work part time and earn just over the threshold limit so not eligible for single parent benefit but am getting FTB.

    Thanks for the tip on calculating expenses. I recently took a massive demotion and pay cut to try to salvage my marriage which hasn't worked so I need to get used to living in this income while the separation is in place. Doubtful we will get back together so is a good idea to work out financials now while I have the ability to top up the funds if need be and to determine if I can afford life post the trial when all monies/debt will be separate.

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    Default Cost of living calculators?

    I wouldn't be trusting my XH with a joint account. I also wouldn't be working with a verbal agreement. You need something in writing.

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    Default Cost of living calculators?

    Please go and talk to someone at relationships Australia they have low cost mediation and counselling and can advise you on sensible ways to manage separation.


 

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