AIBU to ask you how you cope/or prepare for maternity leave

[Vilanelle]

Hi everyone.

I am expecting my first baby in June 2020 and have started saving for when I go on Maternity leave.

I am having a mild panic as I am struggling to save large amounts whilst also buying items for the new baby.

I am looking at reducing my bills such as Sky and Electric. Currently on a prepay meter and have been told this is more expensive that pay monthly?

Anyone have any good budgeting ideas?

Both myself and DP work full time.

Do you know what your maternity package will be and how much roughly you will get a month whilst on leave? I took 9 months and the first 6 months my pay was almost the same as my normal pay and our outgoings were much less so I saved half my salary for those 6 months. Then I was on SMP for 3 months so couldn't save anything.

Tell everyone you are pregnant so you can get people who have children under 5 to give you stuff the baby stuff they don't need and others to gift you stuff. Also look for second hand stuff.

When you are maternity leave you will actually spend less money. Just don't sign up to every baby class going. The kicker is that if you are going back to work you need to ensure that you have some money to pay for your first month's childcare up front.

How will I save more being off though? I figure more electric as I will be at home. Commuting will be less because I wont need the petrol (currently spend around £25 per month on car).

I suppose I could cook more budget meals as will have the time (LOL with a newborn??)

As for maternity package I am 99% sure I just get basic, so full pay for 6 weeks only then it goes down to £148 per week?

TBF my in laws have purchased the more expensive items like pram, crib. I am lucky in that sense.

I just really want to be prepared but as I am filling in my spreadsheet, my savings plan will only see me through about 3 months!

Is DP saving too? It is half his cost... Not just yours.

@Cryingoverspilttea Yes DP is saving too but earns less than me, although DP is quite good at saving.

If your PiL's have bought the expensive items, what stuff are you buying that is stopping you saving? Can you give a break down of all of your outgoings then people can see if we can make any suggestions :) Have you had a look at your company's maternity policy to make sure they only offer 6 weeks full pay?

Yeah it can be hard if your maternity package is just SMP. I had additional pay through my work. I found I spent less on petrol, work lunches and my social life was very limited. I was on leave for spring/summer so no real differences it bills etc. I think in your case what other PP have suggested is the best option. Have a list of things you need when people want to buy gifts for baby. Second hand stuff on fb or baby sales. Have a look at all your bills and see what you can do without or where you can make savings?

Hi OP

Glad to see your update as maternity expenses should be shared or subsidised by the father as it is a family expense.

I'd cut down on what you buy for the baby. You really dont need that much. Buy everything second hand other than a new mattress and car seat. Facebook marketplace has loads of bargains eg play table for a fiver that is 35 quid new and just needs a bit of a wipe.

I did find I saved some money at home - less nights out, I used to grab lunch on the go and at home I had leftovers instead. I didnt do loads of baby classes though which can add up.

Could you look into your husbands work shared paternity policy, some companies I know pay the man even towards the end of the paternity leave period so it can be worth swapping in the later months (or as he earns less than you, sharing it 50 50 with him and you going back to work).

Thanks for the replies. I have bought a lot of second hand items, such as the pram MIL bought. She bought us a brand new Next to me Crib without asking though!

DP bought 2nd hand MaxiCosy car seat and isofix, got a great bargain actually. 2nd hand cot. We also made the most out of Mothercare closing.

It is mainly the little bits we need now like nappies (but have been advised not to bulk buy in case they aren't the right ones), muslins, steriliser, moses basket.

I don't even know what I need! Argh!

Our rent is fairly low as we live rurally so

Rent - £410
Council Tax - £105
Electric is on prepay meter and during the winter months we are finding we are putting about £30-£40 a week in!
Sky was £93 but we have reduced this to £63, we are also ringing them tonight to see whether or not our broadband is still in contract as Talk Talk offer it at half the price with line rental so potentially knocking TV services down to £43 then a further £23 when tv contract ends in June.
Water is fixed charge of £55 per month
car tax and animal insurances can not be changed really as these have just been renewed.

We do currently have 2 cars because we both work in the city (although due to distance between our work places, a car share doesn't really work.

Our monthly outgoings (house only, not including our own bills) is £880.00 - that is what we put in our joint bill account each month.

I bring home around £1500 per month and have £173.00 of my own bills each month. These are debt repayments, credit card bills and mobile phone (again new contract so can not cancel, I also pay the animal insurances personally because I earn more)

DP earns around £340.00 a week but has a few personal bills such as catalogues and credit cards, DP is drowning a bit but is not very forthcoming with details of outgoings (stresses when talking about it, not helpful I Know)

Food wise we don't have a set budget but try to keep it low as possible, we are not extravagant but do tend to waste food by not eating it by the time it goes off. Also we are eating healthy so tend to buy fresh and often.

We do have 2 cars

To be clear, we split the £880 between us each month

Enroll in the government childcare vouchers scheme and start paying into to now.

Work out the difference between what you will take home and now, then try to save up an amount that you can use to effectively “pay” yourself some of the void.

Cancel Sky first.
Nappies are honestly not a lot in it. ALDI ones are notoriously good.

But you don't need to buy it all now- you need to work out what you need to spend (work off mid priced nappies) and save that into a separate account.

Yes cook budget meals in May and freeze them! That's totally worth it from a budget meal perspective and your sanity in the first few months. But you can start with budget meals mow- you don't have to wait until the baby arrives to start saving.

Take a look at moneysavingexpert advice on saving for a baby. Very useful.

Not terribly helpful for your problem posted but you really shouldn't get a second hand car seat. That's something that's not worth getting second hand. I completely agree that everything else (bar a mattress) is worth looking for second hand, but a car seat you never know could have been in an accident and is therefore not safe.

Also register in a shop and save scheme like total cash back, you get points on loads of stuff

We did an analysis of what we actually spend- again moneysavingexpert. The shocker was that we were spending most of our money (after bills) on food. We've had to stop shopping at the local convenience store as that was putting the bills through the roof. But a weekly online shop worked out actually about the same as an Aldi shop without the hassle.
For food fresh and often is fine. Fresh vegetable meals are the cheapest and healthiest. But do that now. Set a strict budget for that and meal plan so you don't waste food.

And when you do your analysis of spending both you and DH have to be completely honest. Once you're on Mat leave remember there's no such thing as "his money/your money" split. All money is household money, so catalogues and loans have to be seen as shared (and stop buying stuff from catalogues!)

You'll get an additional £20 a week in child benefit, make sure you register as soon as baby arrives.
I am SMP only too and our household outgoing are about 1700k a month. We well be bringing in around £650 (me - SMP) and £1800 (DH) We really didn't see much increase in utility usage when I was off with DS1 as It was over summer and most days I'd be out walking in the park etc. We live walking distance to shops and so hardly used the car.
You need to sort with DP now a reduction in your bills and an increase in his I'm afraid, your pay will be half of his soon.

Stop buying brands. Run taste tests to convince yourself.
Batch cook, freeze the extra and avoid waste
Turn the heating down one degree and wear a sweater and socks.
Take packed lunches to work.
Avoid barista coffee.
Buy meat at a butcher not a supermarket
Get cleaning products from the £shop.
Only buy baby basics. People will give you loads of stuff.
Cheap baby wipes are the same as branded ones.
You do not need a changing table, Moses basket or changing bag (use an existing rucksack).
Use washing powder instead of tablets - cheaper but same results.

I found I saved a lot due to not going out that much as I couldn't drink and didn't enjoy eating out in the evenings anymore and I also obviously didn't buy alcohol at home. Same with having a coffee out and about.

I also found that having a homemade lunch at work was better for my digestion than bought sandwiches or other deli stuff.

That altogether was around £150-200/month.

For meals in the first weeks I agree try to batch cook pastasauces, curries and soups. Easy to reheat and cook with pasta and rice. We gave friends vouchers for the frozen food company Cook, they do really nice food without the hassle. Could you ask some as a present to a birthday if one comes before the baby?

Start researching baby sales either from the NCT or commercial ones in your area. They will save you a lot of money on clothes and baby toys for several years. The same with charity shops. Babies don't wear clothes very long and most are in great condition when sold. Don't buy too much now, put money aside as you never know how big/heavy your baby will be.

So you take home £1500 and have £613 of personal bills? Presuming this doesnt include food or petrol so let's say £800 of bills leaves £700pm

If you save £500pm between now and June you have £3000 and that still leaves £200pm to spend on what you want.

Your maternity pay will be £640pm (ish) if you divide the £3000 you've saved and split it up to meet your bills of £800pm you could have months maternity (not counting the first 6 weeks so 8 and a half months) paying all your bills and still have £268pm to spend on anything else you need.

I know it isn't that simple btw! I'm just trying to show that I don't think things are as dire as you think

Who will look after the baby when you go back to work? (Presuming you do)

All great advice, thank you! Will definitely start the batch cooking in May, great idea!

@Mermaidtissues How do I sign up to this scheme?? When I google it it does not give me an option to open up any kind of scheme? But this sounds really good

You can't sign up to the childcare voucher scheme anymore, it is closed to new applications and you are only eligible if your workplace offers it anyway. The tax free childcare scheme is the new alternative, but until you know if you need it it isn't really worth doing yet (plus you need to add the childs details and their childcare provider)

DH needs to be honest with you and face his debts as that's what may bite you in the bum if you don't factor the payments in to your budget

how long you can afford to have off work, what's your mat leave pay, what's DH paternity leave pay, do you have annual leave you can use for the later months etc.

Breastfeeding is cheaper, but if you're planning to formula feed as an indication I spent £500 ish on formula in the first year for each of my children (around one tub a week at peak so (£40 a month).

My social life bit the dust when I had DD but we spent more on cafes, baby groups (baby swim at £12 a lesson with my PFB and random shopping, as with my first I trawled the shops in the day as something to do when I was bored etc so you have to watch those costs as they mount up. Look for children centres and play groups as well as the themed baby classes etc.

@Digitalash when you say it like that.... Sounds ok!

I calculated SMP to be £592.00pm though.

@Digitalash We are both thinking of dropping 1 day a week and finding childcare for the remaining 3. Local nursery charge £41 per day

DP bought 2nd hand MaxiCosy car seat and isofix
Great that you are looking at second hand items to save money, however if the car seat is from a stranger are you certain it is in good condition and has never been in a collision? A car seat and a cot mattress are just about the only things I wouldnt buy second hand.

Reusable wipes are great and save money in the long run, as well as being environmentally friendly. We bought a while load of cheeky wipes which cost about £30 but lasted 2 years for DD and will do for baby number 2 as well. Same for reusable nappies, although the initial outlay is much higher and adds to your water/electric bill so debatable how much cheaper it actually is (and they arent for everyone).

The aldi baby and toddler event starts on Thursday. They have very good value things like muslins, nappies, dummies - much cheaper than branded.

Look at transfering your credit card balances to a 0% interest.