Money on maternity leave

[Zonnet]

Over on another thread about being skint, a few people have mentioned they are in 20k+ debt because of maternity leave. Nothing against them as genuinely curious (we’re TTC) I just assumed we might not be able to have the full twelve months off and might have to go back after 9 months or so instead, when the leave turns to unpaid. Is taking out a loan really a thing people do? I had never even thought of it as an option.

How else do you fund the unpaid 3 months? I know there are KIT days you can usually do or maybe selling stuff on vinted.

Bump!

I worked out how much I’d need for my bills and stuff on then unpaid part and squirrelled it away in a short fix term savings account!

You save and save and save. I don't know how people end up £20K in debt tbh unless baby is unplanned and the partner loses their job.

I would have thought a lot of people would just try and save throughout pregnancy to cover the mat leave if it's your first. Most people will get child benefit once the baby is here, some will qualify for universal credit. Some costs will also go down, you don't have travel costs to work, lunches, you won't socialize so much during those months.

Is some of the debt not paying or nursery costs?

We just saved during pregnancy to cover the year of maternity leave.

just assumed we might not be able to have the full twelve months off when you say we do you mean you and partner at the same time? Usually the one who hasn't given birth goes back to work before the unpaid bit or the leave is staggered.

Saved as much as poss before mat leave!!

My colleague is back after 8 weeks as that's all they can afford. Her husband is off now for 8 weeks shared pat leave. A year isn't mandatory if you can't afford it.

Just saved before mat leave started as knew that I wanted the full year off

I meant I. DH will be back at work after a month.

My eldest is 27, I had to be actively seeking work from when she was 6 weeks old, started work when she was 9 weeks old.

The next one it was only 16 weeks may leave, then 26 weeks. Honestly going back earlier isn't horrendous as they don't have separation anxiety for a start.

I was also helped by it being covid so no one was going out anywhere

Oh and I like/liked to spend and I’ve just hit the SMP bit (in December of all months) gosh it’s a shock but I’m just trying ti be sensible!!

But we’ll survive….not that my DH cares but I’m finding it a bit of an adjustment to not having to say erm I don’t actually have the money for this!!

Bills and stuff come out of the joint account which I’m not currently paying into but having split everything 50/50 for years it’s taking a bit of getting used to!

Many go back earlier, maybe part time. Or you cut your costs considerably, that's what we did, live off one income, but back then (only 25 years) we lived far cheaper, and don't think it's just housing because my rent was comparable to today once you take income increases into consideration.

mat leave can be cheaper than childcare and a whole year needed due to availability - and round here you put the kid down at about 12 weeks to have space as nearly 18m-2year waiting list.

I have to take a year and then some this time round - due in april, as baby doesn't have a place til october 25...

our survival is b/c of savings / tightening belt / budgeting / side hustles / credit card / joint income with partner / seeing if UC calculation is correct / etc.

child benefit helps too.

We saved like crazy for each pregnancy, obviously MUCH easier first time around. Second time around we managed to save £600 a month between us over a 14 month period (pregnancy plus time on maternity on full pay). It was hard but worth it, mind you that still didn’t fund a full 12 months.

This. I saved before pregnancy and during pregnancy. I didnt stop paying equally towards the mortgage and bills plus all our baby related outings. During the second mat leave dh lost his job but i had gone back to work in between full-time and saved before that birth too. Plus due to retired parents we didnt have much childcare costings.

but there are lots and lots of factors to consider. The house we bought before we got married and had children was bought based on one income rather than both, so we weren't stretched.

We've worked out roughly how much we'll need from savings per month when I'm receiving some pay, and how much a month when I'm not. This is to cover what would usually be my share of household bills, plus a little to spend so I'm not perpetually stuck in the house.

We've got it squirrelled away and we'll keep squirrelling until my Mat leave starts in May.

I'm lucky in that my work are flexible and happy for me to pick up some hours from home / around DH's hours whenever I feel ready to, and it's a 7 day a week business so I could easily put in a full day on a Saturday or Sunday when he's off. I plan to go back to the office after about 10 months, ideally on a slightly less than full time basis.