Would you carry on working or take another year off?

[koppr]

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.

I've voted for YABU because those are the options and it seems like an odd perspective but really it's up to you to decide what your priorities are.

I think you really need to think longer term. It's not just working for a few hundred spare. It's working to cover your living cots which are otherwise coming out of your savings. Building those savings gives you a lot more security and choices later down the line.

Your income seems pretty good though and you're obviously not struggling so, if you can take another year off without impacting your career progression or future earning potential then go for it. Just make sure you consider all of the implications before you decide.

Something else to consider - are you on a fixed term mortgage? If so, when’s the term up and have you worked out what your monthly repayments would be at today’s interest rates?

People on MN always advise mums to stay in work and whilst there are many long term benefits of that, there are also massive benefits to the child of more 1-1 time with a loving, engaged primary carer.

I would not, as a single parent, want to take a course of action that would leave me with only a couple of months expenses in reserve. Unless I had access to really substantial backup maybe, family or baby's father or whatever.

However, I also wouldn't want to work full time in your situation. Is there no middle ground? If your take home is 3.6k you presumably earn over 60k, and that's a pretty disadvantageous point to be at as a one income household with DC. No child benefit and 40% tax on a substantial part of your income. Could you work for 3 or 4 days a week instead? The final day of the week is always the worst paid, it might make less difference than you'd think.