Mother is dead, Father is alcoholic and complusive gambler. I’m in first year uni and have a little sister to take care of. What should I do?
So the title explains it all, my mother passed away of cancer during this summer. She and my father were both complusive gamblers, infact I think that’s how they met. She passed away of cancer this summer, but before that she hit up the casino and gambled away $100000 worth of money. My aunt who recently got pressured to sell her house by my parents, covered her(my mother’s) ass and lives with us now. My father has recently just gambled $6000 of money that I have put towards paying mortgage, household expenses and food. To be frank I am done with his bullshit behaviour claiming he would change after my mother’s death. I would much rather move out and take care of my sister myself. She’s a fairly low maintenance girl and I could provide her with more than what she’s getting at “home” I could get from selling the house. Due to her being a child, I understand that having both parents would be ideal, but I long abandoned that idea when I was her age and have disconnected myself emotional from them because they’re not great influences.
Here are the numbers: I attend university, however due to my high academic standing in highschool I am in fact getting paid to go to school, ontop of OSAP. $0 Expense. I was planning on transferring to another university because they have a much more rigorous business program, and more bursaries, higher employment rate for corporate finance positions. However, tuition would be $30000 for third and fourth year should I transfer.
I purchased a car $7300 in cash full. Insurance is around $3400 because I’m a new driver, but I am expecting those premiums to decrease after six months.
The house is worth approximately $350000 with $100000 mortgage left on it. My sister and I are the beneficiaries of my mother’s will and I am trying to get it probated.
An average two bedroom apartment/house with washroom/kitchen would be ideal.
Monthly Expenses include $250 for food (I am a varisty athlete so I go through alot of food, but my sister eats the same stuff anyway) $1000-1500 Rent/Housing $100 Clothing/Recreation Expense (My sister is planning on signing up for gymnastics that is $300 a year, I also am a member of University track& cross country) a $500 Car Insurance/Gas/Repair Account
Revenues include ODSP (valid until December) $2100 Child Benefit money $500 Declaration of University Attendance Child pension $200 a month until I am 25 Retail Job $100-500 a month I have enlisted in the army as a Reserve with my CFAT, Physical, Medical and Interview completed pending on Ottawa’s approval.$500 a month in December I am seeking a third stream of revenue that will earn me more.
Other leverages are I have $5000 in my possession right now $6000 GIC for my sister to get braces in the future. Should I decide to live with my aunt in a 3 bedroom apartment she would definitely help me out.
I consider myself to be a fairly well-rounded individual. I maintain an 85+ avg in university for business administration. Member of varsity track/cross country. Do multiple extra-curriculars work a part-time job and volunteer occasionally. I’ve been through so much shit because of various financial circumstances growing up which has given me a tough skin.
I am Canadian (have applied to three social benefit programs already) however; any advice would be heavily appreciated on behalf of myself and my sister. Thank you for your time.
TLDR; I want to move out with my little sister, could potentially have $200000 if I sell my house and I earn $2000 a month including benefits.