How do you get by on SMP?

[sunnyfleur]

My workplace policy is
10 weeks at 90% pay
20 weeks at half pay + SMP
9 weeks at SMP
13 weeks unpaid

We haven’t saved much before TTC to cover maternity leave but still have lots of months to get saving, so that counts for something. DH earns just enough to pay all our bills but that’s it, with absolutely no discretionary spending leftover or savings - so I have to return to work which is fine as I want to anyway.

I want to breastfeed and obviously want as long off with bub as possible. I was thinking the 39 weeks and then tag annual leave on to the end, so go back when they’re about ten months.

I see everyone taking a year off though and I feel so bad but I think having zero fun money would really stress me out and make me worry about unexpected bills. I have time to change my mind I know.

Someone tell me it’s possible to eke out SMP?! I suppose the SMP only weeks, that will have to be our weeks discretionary spends.

Well it depends on how much discretionary spending you have now, and what you do with it. If you have very little wiggle room every month after bills then you're going to struggle. If you do, but you're used to spending lots of "fun money" with minimal saved then you need a mindset shift right now! If you're somewhere in the middle, a tightening of the belt.

It's not a case that you only have the SMP- you should be able to spend less than you get each month from now until then so there's something to top it up with; you know it's coming.

I conceived quickly so hadn't saved for long and got no employer Mat pay over the statutory entitlement. However I was able to save what I'd previously been overpaying the mortgage with and saving to spend on the home and holidays etc, which covered the shortfall. Probably more new clothes than normal but less expensive ones. UK breaks but nothing bigger. Less wine!

Remember also this applies to both of your incomes and expenditures collectively, it's not all on you.

Hmm to be fair I also took the car allowance rather than another company car when it was time to change, so had the car allowance coming in throughout May leave (even the last 3 otherwise unpaid months) without paying anything out as drove DH's car while he got a cheap one, so that helped a lot, it wasn't just saving.

Honestly 30 weeks before you drop to SMP is pretty good.
If your partner’s salary is enough to cover the bills and you average out your pay over the time you’re off, and you save a bit now, I think you’ll be fine.
I was never very organised and always worried about it but it was never as bad as expected.

That is far more than Statutory Maternity Pay! Many go back to work earlier than 12 months.

If you’re planning to return to work FT I would strongly recommend saving some of your AL to phase your return rather than taking it all in one go

You go back earlier if you have to. My form now does 12 months of FTE, it almost tempted me to have another child.

You cut your cloth and all that.