Study a Phd and carry on working :I am currently completing a Msc(part time) and also work 4days a week. Without arrogance I think I could study a Phd, but being a mature student(+having a 2 years old daughter)I can't study only even with a 10k+ studentship.Any advice would be very wellcome (combine a research project and a work in a firm, the good point is I've got now a serious professional experience in top city firms in knowledge management. Thanks for your answers.

Look out for a research assistant post where you basically do your PhD on a salary. You won't get rich but it's usually better pay than a studentship. These posts are very competitive though. Good luck.

Remeber the PhD studentship is tax free. If you are a single parent and your grant is from a UK research Council you will be able to apply for a Young Dependants Allowance (£2090 for the first child, £1200 for the second, nothing for any others). You will also receive the normal Child Benefit.