Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Flip

1 2 3

Original poster

To use savings to cover extra mat leave?

51 replies

Pinkpiglet10 · 01/03/2022 20:24

Im currently on mat leave for 9 months + 1 month of a/l.
We are not planning any more children so that’s my one and only mat leave ever.
Im started to think to extend my mat leave by one month to enjoy longer time with baby however that would mean digging into savings.
Im going back part time so still plenty of time with the baby but on the other hand I will be working my whole life so may as well use more time off. Esp that my mat leave is ending in Summer so I could have lovely beach days with baby.
Im really thorn.
AIBU - with part time job you will still get lovely Summer with baby. Dont waste savings
AIBNU - stay with baby, whole life ahead of working and saving money

OP posts:

Mindymomo · 02/03/2022 09:16

I would do it if you can.

Movingsoon21 · 02/03/2022 09:20

Yanbu. We have saved specifically for this reason.

ISayItLikeItIs · 02/03/2022 09:54

If you have savings and you don't necessarily have any concrete plans for these savings then why not use some of it to keep you afloat whilst you spend more time with your baby? When I had DS I only got SMP but fortunately for me DH has a really good income so whatever I was getting from SMP was just for me and it was more than enough, even managed to save some of it. I was able to SAH with my baby for about 2 years before I went back to work as it was a contract role and contract expired whilst on Mat leave. I was so grateful for these 2 years!

2ndBorn · 02/03/2022 09:56

I used my savings for the last 3 months. No regrets at all! If you’re thinking about it & want to do it then go for it

Ruibies · 02/03/2022 12:22

I have savings specifically to see me through mat leave (only get SMP) and if I use them all then I'll be back to square one with no personal savings. But, DH also has savings (we are slightly separate finance-wise) that would be our team safety net if something were to happen with jobs or illness. So I'd say if you can afford to take it out of your savings and still have enough for a little safety net, then go for it. I'm hoping to take the max mat leave I can, the only reason I'll be going back to work before baby is 12 months old is if DH decides he wants to do some shared leave as well.

CoreyTaylorisHot · 02/03/2022 12:28

Is this to extend it to 12 months??
If your able to I would. That's what we did. It was pre arranged and I did do a couple of kit days which I was paid for and then used holidays. I was off for about 14 months in total and went back part time.
I didn't spend that much from months 10 onwards as that's when the pandemic hit but with my husband working crazy shifts due to the pandemic we would have struggled massively for childcare if I had gone back any earlier xx

Johnnypiratesfriend · 02/03/2022 12:28

I worked out how much I needed to live on really carefully. I took out a loan ( I'm not keen on getting into debt but this was very important to me). I spent time choosing the right length if time and payments etc. Loan is now paid off and I never regretted it at all.

konasana · 02/03/2022 12:39

What % of your savings is it to do this? I wouldn't if it was too much, might need it for emergencies!

Associatepeggy · 02/03/2022 12:43

Theres no right answer to this.

Because its savings compared to wages compared to out goings.

If its going to clear your savings out, and you and OH will earn only just enough to cover outgoings then it's a bad idea.

If its going to eat 10% of savings and your wages leave plenty to replace that 10% in a short time then its a good idea.

Original poster

Pinkpiglet10 · 02/03/2022 12:46

@konasana

What % of your savings is it to do this? I wouldn't if it was too much, might need it for emergencies!

15 % of my savings

OP posts:

Original poster

Pinkpiglet10 · 02/03/2022 12:47

But won’t be able to replace these savings until DC goes to school

OP posts:

Associatepeggy · 02/03/2022 12:53

If its 15% I would probably do it.

Though I would have a back up plan for if cost of living etc keeps going up. If you can't replace until you go full time, then must mean there's not going to be much disposable income in your family while you are PT.

TheGoogleMum · 02/03/2022 13:03

I think most people save to do this if they have longer than 9 months mat leave, unless their partner is well paid enough they can struggle by on one salary (not so many nowadays). I actually saved to top up my income to my normal amount for my 9 months of mat leave (couldn't stretch to extra months of no pay though)

Original poster

Pinkpiglet10 · 02/03/2022 13:25

@Associatepeggy

If its 15% I would probably do it.

Yes thats truth, we won’t be able to save much when Im PT thats why Im struggling with my decision what to do

OP posts:

wishtotravel · 02/03/2022 13:26

It's really difficult to know how to answer. I'd think of it like this. What would that 15% enable you to do that without it you wouldn't be able to. Are you going to struggle for the next (3 years?) to be able to fix/ replace household appliances eg white goods/ car/broken boiler if something were to happen to them or is it that you'd be good day to day but would have to forgo a holiday/ days out extra spending.
In my opinion, with your relatively stable and reliable job it shouldn't be a problem but it all depends on how much room for manoeuvre your family has.

TonkaTruckduck · 02/03/2022 13:30

Just do it. Most NHS employees I know have 13 months off and have the maternity pay stretched over 12 months as it's so generous.
Had you planned to do this from the start there'd be no quandary.
Maternity leave is glorious in the summer.

Theskullycup · 02/03/2022 13:34

@Pinkpiglet10

Im only going part time as that way we won’t need child care. Once DC goes to school I will go back full time. DH is present, works full time. Me extra mat leave would be unpaid

What will you do about school holidays etc? I think too many women think about having time off with 'the baby' and don't stop to think about what they will do for 3 months of the year between the ages of 4 and 11 when the schools are on holiday. And between the hours of 8am and 9am, then 3.30pm to 5pm when most people are in work.

Original poster

Pinkpiglet10 · 02/03/2022 13:38

Thats the good point about school holidays
Havent thought much, I guess annual leave shared with DH

OP posts:

Original poster

Pinkpiglet10 · 02/03/2022 13:38

@TonkaTruckduck

Just do it. Most NHS employees I know have 13 months off and have the maternity pay stretched over 12 months as it's so generous. Had you planned to do this from the start there'd be no quandary. Maternity leave is glorious in the summer.

You can only spread it for 9 months The last 3 months is always unpaid

OP posts:

Original poster

Pinkpiglet10 · 02/03/2022 13:40

@wishtotravel

It's really difficult to know how to answer. I'd think of it like this. What would that 15% enable you to do that without it you wouldn't be able to. Are you going to struggle for the next (3 years?) to be able to fix/ replace household appliances eg white goods/ car/broken boiler if something were to happen to them or is it that you'd be good day to day but would have to forgo a holiday/ days out extra spending. In my opinion, with your relatively stable and reliable job it shouldn't be a problem but it all depends on how much room for manoeuvre your family has.

Its more like we won't be to do holidays and not eat out as much The emergency stuff still can be covered with savings

OP posts:

Overtheroadroundthecorner · 02/03/2022 13:42

You never get the time back

This is always pedalled out on these threads. I took 3 months leave for each of my maternity leaves due to need. I honestly, hand on heart never feel I missed out on anything. It’s not like the enjoyment of your child stops when they reach a year old, in my opinion they get better as they get older. That’s the time I value with them the most.

Plus I kept my job, which I’m happy about now they’re older.

TonkaTruckduck · 02/03/2022 14:10

@Pinkpiglet10 you can definitely have the OMP part spread over 12 months, I've done it twice.

mindutopia · 02/03/2022 14:17

I actually would keep the savings and use it to do more things you enjoy and create a cushion rather than burning through it with an extra month off. I found I was busting to get back to work by about 9 months. I went back part time both times to start and it was great. I wouldn’t have needed an extra month off. But a nice holiday or some annual passes for things we could do on my days off would have been nicer.

Also I would think about how you plan for the future. It’s actually much easier to work full time when they are little than when juggling the school runs. I’ve gone up to FT when mine were nursery age but needed more flexibility and PT when in school, so I would think long term too.

Flittingaboutagain · 02/03/2022 17:48

We're just talking one month. Surely it won't take that long to earn that back over the next few years? I'm going to take as long as I can. Certainly not looking forward to it and I love my job! Easier to go back when it's cold and wet I think!

DixonD · 02/03/2022 18:09

Do it OP. I did and didn’t have any savings (DH paid for everything). I only went back 12 hours a week, after 14 months off (had lots of accrued leave as well, which spread out over two days a week gave me A LOT of time off and I even took a month off later that year to use up the leave).

Yes, you don’t get ANY time back, but time spent with your baby is the most precious you will ever have. My daughter is 5 now and I miss those days incredibly, even after having all that time with her. There’s never enough time, but you will regret not making time.

Flip

1 2 3

Swipe left for the next trending thread