How much did you save for your mat leave and how long did you take off?

[firsttimepregnanthelp]

As per the title really. I am not sure what I am going to do - I work for a LA and the maternity pay offer isn't great - 6 weeks at 9 per cent pay, then SMP and OMP (not even quite sure what that is at this stage) until week 28, then half pay then nothing. I am quite anxious about managing - partner and I live separately atm so 2 separate houses to run, obvs he will contribute to baby and possibly some of my bills but it feels daunting to have so much less money. I am saving hard and wondering what others did.

Quite honestly we didn’t save, because I had a good maternity package (3 months full pay, 3 months half pay, 3 months smp), so that and my DHs salary was fine for 9 months. I just took the 9 months so I didn’t have to have 3 months unpaid.

Can you clarify your mat package because that actually sounds pretty decent!

Are you already pregnant? If you are then you probably need to look at your expenses and work out what you can afford. Are you planning to live together eventually? Is there anyway to give up on one of the properties?

I didn’t save and took the full year and added four weeks’ unpaid parental leave on the end.

Six weeks at 9% pay can't be right... and surely moving in together is vital so that he can do his fair share of the care? He's got nine months to get ready...

I took a full year with both #noregrets

It depends on your outgoings and whether or not you want to drop 2k on a pram.

Almost all our baby stuff was gifted our 2nd hand because time was more important tham stuff.
I saved from 4wks pregnant both times but i think i'm fussier than most about finances.
I had 2 k left at the end of first mat leave and spent it on a PT!!

How much you'll need to spend depends totally on how much support you'll have. Agree with Wanda, give up one of the properties or sublet it - you're gonna want your partner around (assuming you're together?) to be helping with baby care eg with night shifts etc - it's gonna be totally full on! We spent much less than anticipated by subletting our apartment and living 3 month at my parents, and 1 month with partner's family (my mum then helped with baby care and our families kindly provided all food / chores etc for free). Thought it would be a nightmare, and sometimes it was annoying not having own space, but in the end I was really happy for my mum's help. We also got most baby clothes/stroller/most items as hand-me-downs from friends, freecycle, vinted bundles, or charity shop. For the remaining items my sister threw us a baby shower and sent an electronic gift registry list to all the guests who were gonna come. All that made it possible to cut costs drastically, but still we spent about £1000/month each!

Oops, that should say 90 per cent full pay, not 9!

Thanks everyone, living situation is a bit complex - partner lives with his dad for whom he is a carer although this is not a forever thing - his dad is much better than he was following an accident two years ago although I know bf will feel a degree of guilt when leaving him. He has bought his own house but it is a building site at the moment as he is extending and renovating it. Once that's done we will live together but the timeline for it is unclear as he's had to pause work on it after breaking his leg and I am due in April. I am naturally a worrier but I do have decent savings and a small mortgage and I am sure there are people in worse positions than me. I will definitely be buying a pram etc second hand and being sensible in that way.

I didn’t really save for maternity leave as I had decent maternity pay from work but I did save 50k for nursery fees before having DS.

@Amy454 omg £50k for nursery fees?! I will never save that much! I think I will be using a childminder which will be a bit cheaper

That’s a great package! Teaching is 90% 6 weeks then 12 1/2 plus smp, then smp for the rest

we had about 3 months worth saved and worked out the average for the year then lived off that each month

Nursery fees are insane particularly if you don’t qualify for funded childcare support.

You end up a bit between a rock and a hard place where you need to pay huge fees with no assistance to allow you to keep a decent job but at the same time you then don’t really benefit from that job during the nursery years anywhere near as much as you should do.

We could have paid through income but that would have felt a bit demoralising which is why we saved up beforehand even though the net position would have been the same. It kept me sane while working through the nursery years.

DS started Reception this year and it felt like I received a huge pay rise.

I took the full 13 months and that took a couple of years to build up for. We had to pay for IVF too and it was crippling. So we rented out our spare room on Airbnb for about 18 months up until the baby was born (short stays only, so we had break periods) to earn a fair bit of extra cash. That room is now our child's bedroom. I didn't enjoy having lodgers but needs must.

As older parents and a lot of years trying i had managed to save a bit but DH has never been able to save! Enough to supplement ML for a year. Xxx

I think you need to clarify with your partner what he will be contributing.
If he earns significantly more it would most likely be a good idea to become civil partners or married, especially if you’re taking a full year off or going part time or anything like that after ML. Having a child can seriously hinder your earning potential and leave you vulnerable longer term.

With my first I saved £5k prior to mat leave which went quickly.

@MeganM3 thanks yes, I will definitely be having these conversations with him but probably after the 20 week scan after everything is hopefully ok. I am 15 weeks at the moment and quite anxious about everything going well. We earn similarly but obviously I will be at a disadvantage on less money during mat leave.

I got full pay for a year for both times I went on my maternity leave

What month do you go on mat leave? You shoumd be due some tax back hopefully.

What month do you go on mat leave? You shoumd be due some tax back hopefully.

Solo mum, unplanned pregnancy. Had to leave my job while pregnant to relocate. Had just under £40k in savings. DD is now 20 months and I am hoping to stay off work until she is 3 before going back to work. Don't claim any benefits, but have no income. I have to be careful but don't feel like I'm missing out on anything.

I think you need to sit down first and work out how much maternity you want to take. When you drop from 90% how much are your outgoings each month, with a buffer for baby classes etc. Can you safely/feasibly do this in the next 6 months?

This is the starting point of what you need to save....and yes you need to speak to DP on what he can contribute (can't reasonably expect him to fund 2 homes) but he def needs to be giving you the CSA equivalent until yous officially cohabit. And then theres the conversation about nursery fees etc.

Most nurseries and childminders have waiting lists depending on your area so you will do well to research childcare now.

@ByQuaintAzureWaspit will be April. I work in a salaried job so don’t think I’ll get any tax back