Would you delay returning to work on this basis (maternity)?

[Jappj]

I have unexpectedly found I have 20k savings and 2k due for KIT days. I am a single parent with minimal support (cms 300 a month). I planned to go back to work when baby was one in December but now I have this money I am thinking of delaying it until end of March. This would use around 8k of the windfall as my maternity pay finishes in October. Just curious as to what others would do?

Would your workplace be OK with that?

Do you mean that you will use unpaid leave to extend your maternity? Would your employer allow that? Would it impact on your maternity rights?

Sorry yes, to clarify work would allow me the unpaid leave.

I’m curious how you unexpectedly found 20k savings??!! 😂

Do it, 100%

I’d just go back to work as planned .

I’d go back to work and save the money.

Would you be going back full time? I would go back as planned in Dec but reduce my hours . .. so go back 4 days or 3 if possible.

Do you not have any holiday entitlement from your mat year that you could use to extend your maternity leave with pay? You should have accumulated a year's holiday (unless you work term time only in a school)

Honestly I would go back before the year more like ASAP and ask if you can go back part time for X months instead.

I would return to work as planned and keep the money for any emergencies, treats and holidays. 8k is a lot of money to lose for just three months extra time at home with your baby.

If I liked my job, I'd go back in December and maybe look at going part time.
If I didn't like my job, I'd go back in March (if the mat pay had some sort of clawback policy) and start looking for a new job.

Edit: Sorry hit post too soon! You could keep the money for nice holidays during your AL in years to come, or to upsize your house or do renovations. It really depends what's important to you though. I personally don't really rate being alone with a one year old. If I could have paid 20k to have a load of time off when DS was 3 or 4 and just the right age for tiny adventures, I definitely would, though.

I think it depends on if you're enjoying mat leave and your wider circumstances I.e. are you renting or do you have a mortgage? If you're renting I'd save the £20k for a deposit. I'd also think about how much nursery will cost vs having additional time off and using your savings.

That said I do think using the money to temporarily go part time sounds like a good compromise (if you were planning to go back full time) to ease yourself into working and parenting.

Wishing you the best as you try to figure things out.

I’d go back in December and keep the money. An additional 3 months would fly over and you’d be £8k worse off for it.

Have you got an emergency fund? Double it, then see what’s left. Maybe consider going back part time for a stretch, I wouldn’t delay your return to work completely. Have you considered how it would impact your childcare arrangements?

I'd go back in December, but part time for 6 months

I don’t know, I think that money could better benefit you and your child later on.
what does your pension look like? Do you own or rent? £20k could make a big difference in either situation when it comes to re/mortgaging.

id also look at practical uses like putting the maximum in the tax free childcare account each quarter to get the maximum gov contribution so you can build up an amount to then not have to add to much / if any more before the funded hours kick in.

Yep.
This.

Unless you have a significant safety net of savings elsewhere i would not do it.
There is so much more to parenting than mat leave.

For me it would not be a good use of that money.
I would rather spend a much smaller amount doing staggered return to work via unpaid leave.
put another way £8k invested in an isa could comfortably take you and your child on a once in lifetime holiday when they are 7-10 (I'm thinking disney world or an african safari holiday)

Put the money in some sort of long term savings like a SIPP or even a child savings account towards your child’s future.