What to do if you’re struggling with debt as a single parent
It’s no secret that managing your finances can be difficult as a single parent, especially if you don’t have all the support you need.
Raising a child is a wonderful thing but it also has many costs, from food to clothes to childcare, and as a single parent, all financial responsibilities can fall to you, which can take a toll not only on your finances but also on your mental health.
Both debt and mental health are topics that can be difficult to talk about, particularly because of the stigma that is so often attached to them. Debt advice experts MoneyPlus conducted a survey of 1000 single parents, about their biggest financial concerns and how they are connected to their mental health.
The two biggest financial concerns for single parents
Here are the two biggest financial concerns for single parents, according to the survey.
1) Food and bills
The two things single parents spend most of their money on, other than rent or mortgage, is food and bills – 52.9% of single parents stated that most of their income goes on bills, and 30.2% said it goes on food.
44.5% of single parents revealed that they are most worried about not being able to afford food and bills, and 66.2% said they had to cut back or go without essentials like food and utilities.
The Office for National Statistics (ONS) reported that inflation for food and non-alcoholic drinks was typically 9% in the 10 years prior to January 2022, but from January 2022 to January 2024, this rise was around 25%.

2) Childcare
When it comes to childcare, the biggest difference between mums and dads is their employment status. The majority of single dads, 69.43%, worked full-time, compared to just 45.39% of single mums, and double the percentage of women were part-time or unemployed compared to men.
Childcare could be one of the reasons for this. 8.67% of single mums surveyed said that childcare was their biggest financial concern, with almost double the percentage, 16.38%, of dads saying the same. 13.54% of single dads said that outside of rent or mortgage, childcare is where they spend most of their money, compared to 7.38% of single mums.
This shows that men are more likely to work full-time and pay for childcare, whereas women may be more likely to work part-time and look after the children at home. But while this may save money on childcare, not working full-time has a big impact on your finances, and a huge 90.77% of single mums worry about their financial future, compared to 78.6% of single dads.

The impact of debt on mental health
Debt is a heavy burden for anyone affected, but it can come with an additional layer of stress for single parents. Juggling bills, childcare, and everyday expenses on a single income can be very challenging – particularly if you’re working part-time to try and save money on childcare – and many parents facing the pressure of being the sole provider, and the fear of falling behind and not being able to provide for their children, can feel worried, isolated, and helpless.
Without another person to make decisions with and offer financial support, being a single parent can take a big toll on your mental health. 68.3% of single parents said they felt overwhelmed, and 65.1% said their financial situation had negatively impacted their mental health.
When you are consumed with debt, the constant worry can severely impact your emotional wellbeing and cause financial anxiety; 53.6% said they worry about their financial situation much of the time, and a further 23.5% said they are worried all the time.

What can you do if you are worried about money?
Here are four things you can do if you are worried about debt.
1) Log your wins
Keep a diary of all your financial wins/progress. Whether it’s paying a minimum payment, saving even just a small amount money, or skipping buying a takeaway to save money, keeping a diary of positive actions that you have taken to aid in gaining financial freedom. Keeping a log of all your financial wins serves as an asset to refer to when you are feeling anxious about finances.
2) Speak to your lender
If you are in debt, don’t ghost your lender and ensure payment plans are sustainable. It’s easy to bury your head in the sand when you feel overwhelmed, intimidated and worried however, talking to experts can reveal opportunities that you never knew existed
3) Seek out a debt advisor
There are several ways to tackle debt and chances are, a lot of them you have never heard of. DMPs (debt management plans) can be an essential for anyone looking to alleviate the burden of multiple unsecured debts such as credit card bills, payday loans, and overdrafts.
Finances and debt can feel like a taboo subject however, instigating open and honest conversations with professionals will likely present the opportunity to uncover solutions you didn’t know existed. You can find out how to get help here.
4) Get help
Speak to your GP if you are struggling with your mental health, or get in touch with organisations such as Gingerbread, an advice service specifically for single parents.
If you are struggling with debt, you can visit Money Helper to get free advice.