Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Would you carry on working or take another year off?

29 replies

koppr · 03/10/2023 09:21

I have enough money to cover a year of expenses. No partner involved.

Income is 3,600. Mortgage 900, nursery would be 1,200. Car finance is for another year and is 245 a month. When I add it all up it seems almost pointless working? Obviously I would only be left with around 4K savings if I used what I have to live for a year but sending my dc to nursery for this seems silly? Not sure what is best.

OP posts:
Khvdrt · 03/10/2023 09:25

So after a year you’d only have 4k savings? For me that would make me feel very vulnerable. I’d prefer to go part time and use some savings than cut into thousands of pounds for a year

TulipsTulipTulips · 03/10/2023 09:26

Don’t just think about this year’s finances.

How easy will it be for you to get another job in a year? Will it be the same grade/ money as you’re on now? Will you get more flexibility from your current place than a new one? How will it impact future promotions? What’s the impact on your pension?

And perhaps most importantly - do you enjoy being with a child vs working?

Original poster
koppr · 03/10/2023 09:29

It just feels pointless working to bring home a few hundred spare?

OP posts:
Whataretheodds · 03/10/2023 09:33

To continue building your career? To continue paying into your pension (and gave your employer do so too?)
To maintain your length of service and job security? To put away a few hundred a month towards your savings?

If you can afford to take a whole year off then take a sabbatical - rent our your place and go and do something cool with your child?

Original poster
koppr · 03/10/2023 09:34

@Whataretheodds i won’t be saving anything on this though, that’s my point. I will just make ends meet.

Hadnt thought about a sabbatical… how does it work?! Do you retain continuous employment?

OP posts:
Blinkinbloodyhayfever · 03/10/2023 09:36

koppr · 03/10/2023 09:29

It just feels pointless working to bring home a few hundred spare?

I know what you mean, but its not about now, it's about the years to come and setting yourself up for the future. My sister was actually better off on benefits than she was working, but worked be because she knew she would be better in the long term for it. I do think at least part time nursery is good for most children, so even if you send them one or two days a week it gives you chance to get your hand back in. How old is your child?

Whataretheodds · 03/10/2023 09:36

koppr · 03/10/2023 09:34

@Whataretheodds i won’t be saving anything on this though, that’s my point. I will just make ends meet.

Hadnt thought about a sabbatical… how does it work?! Do you retain continuous employment?

Totally depends on your Ts & Cs.

OK no savings, but you will be building pension = free money from HMRC and employer

rookiemere · 03/10/2023 09:39

Any halfway house like part time employment?
Pension contributions are important, particularly as you are on your own, unless you want to be working to state pension age (68).

Talipesmum · 03/10/2023 09:54

Keeping your existing savings rather than spending nearly all of them counts as contributing to savings though? Depends how easily you can afford to lose them (how much are we talking?) and how quickly you can build them back up.

SleepingStandingUp · 03/10/2023 09:56

If you'll be a few hundred up, then it IS worth going back - those few hundred a month can go into making life easier - cleaner, takeout, or fun - trips and savings for holidays. Plus you'll presumably not be touching your savings so you're more than a few hundred up.

Also consider how easy to get back into work

Having said that, you're a single parent with a newish child, you need to make sure you look after yourself. Could you drop a day at work?

MargotBamborough · 03/10/2023 10:12

How old is your child?

Bumblebee2022 · 03/10/2023 10:27

Is going part time an option? That might be the best of both worlds, a bit of spare money, keeping a job for the future, but you get to spend more time with your dc and don’t have the rush every day.

megletthesecond · 03/10/2023 10:32

Don't stop working if you are a lone parent. Keep your pension going and your hand in work. It pays off when they are older and school age.

Pumpkinspicelattetime · 03/10/2023 10:50

But you aren't working for a few hundred £ spare? Your take home 3600 less 1200 nursery is £2400. So that's actually a lot to be left with to pay your bills and other things. I think you just need to change your mindset. Apart feom nursery, all the other bills will still exist if you don't work.

Topsyturvy33 · 03/10/2023 11:00

is There a middle ground? Can you reduce your hours and work part time? Even three longer days?

I would be worried about not getting a job after the year and not having anyone / anything to fall back on

MatildaTheCat · 03/10/2023 11:03

I missed a year of pension contributions early in my career. Later it cost me a lot, lot more in ACVs.

Will you be progressive your career if you go back? That’s an investment and might be hard to get back on track. Unfortunately the early years of parenting and paying for childcare are painful but I’d avoid a long gap if possible. Is part time an option?

PragmaticWench · 03/10/2023 11:14

You also need to consider career progression. Years out of the workplace really do impact on your overall trajectory. The biggest moves upwards and the most impact on your lifetime earnings happen when you're younger (there are graphs that show this).

Mariposista · 03/10/2023 11:19

Working is not only about earning and accumulating money. It’s about your pension contributions, career progression, mental health, using your skills and brain and actually putting something back into society.

confusedlots · 03/10/2023 11:23

Pumpkinspicelattetime · 03/10/2023 10:50

But you aren't working for a few hundred £ spare? Your take home 3600 less 1200 nursery is £2400. So that's actually a lot to be left with to pay your bills and other things. I think you just need to change your mindset. Apart feom nursery, all the other bills will still exist if you don't work.

Yes exactly. I don't understand why you think you only will have a few hundred pounds left over? Surely you'll have more than that?

rookiemere · 03/10/2023 11:26

Its hard to imagine when DCs are so little, but really they need you in some capacity for many years - although it does get a lot technically easier once they can be left home alone.

It's actually easier to work when they are in nursery or at a childminders as usually they operate a full working day. Once they are at school you have school holidays, random half days and unforeseen circumstances such as strikes to contend with.

I would therefore advocate going back in some capacity and using the savings if any buffer needed in the long term between that and full time working.

Hufflepods · 03/10/2023 11:27

When I add it all up it seems almost pointless working?

You work to pay for your life, why is that pointless?

Reallybadidea · 03/10/2023 11:29

You're looking at the finances in a very odd way IMHO. You'll be 'up' all the money that you won't be taking from your savings if you weren't working.

Jellycatspyjamas · 03/10/2023 11:30

If you take the time off you’ll still be working with not much spare, and will have depleted your savings. Most of us work to make ends meet, all you’re doing is kicking the can down the road a bit, unless you’d be entitled to free childcare in a years time.

whatnot929 · 03/10/2023 11:31

koppr · 03/10/2023 09:29

It just feels pointless working to bring home a few hundred spare?

But you're not just bringing in a few hundred, you're NOT spending all your savings. So after the year you'll have the few hundred a month AND all your savings.

Also you won't have to stay home with the baby.

CaptainJackSparrow85 · 03/10/2023 11:31

How confident are you that you’d be able to get another job? I think in your situation I’d feel very anxious about that. I’d probably look to go PT instead.