Maternity leave funds

[Suffragette85]

hi, I will go on mat leave in December and am a teacher so will get the teacher mat pay, which is full pay for a a couple of weeks and then 90 percent and then 50 percent plus SMP up to week 18. Beyond week 18 I’ll just have to be careful. I plan on returning to work a few days before summer holidays to get full pay over summer. So all in all I should be ok and not struggling, but I am trying to save to give myself pocket money for my nails, hair, gym membership, clothes etc and am aiming for 3-4k. Has anyone else saved for may leave? How much is enough? I don’t want to be scrimping and scraping and still want to enjoy nice things and booking a summer holiday abroad etc. My husband earns ok. Probably same salary as me and our mortgage is moderate. I’m worried about costs moving forwards too with child care etc. I’ve never worried about having enough until now. Just sort of cracked on through life but this is going to change things completely.

How much really depends on what you are used to for disposable income and how much your maternity pay is. Also how much childcare is going to be and can you afford that without having to save for it? You will probably want to pay for some baby classes particularly if you want to make mum friends during mat leave, and have enough money for some coffees and lunches out.

www.teachersspl.co.uk

I used shared parental leave and it has made a huge difference to our finances! I also went on mat leave in December and have been paid in full over Easter, May half term and will be paid in full over summer. It has extended my statutory pay so I don't need to return until October half term. So long as you apply correctly it cannot be refused and is a legal right. My partner hasn't taken any leave, it can be used solely by you. Hope that's helpful 😊

Thanks. I’ll budget for classes too. I was going to join the NcT but that’s another big expense . I’m used to a good amount of disposable income. I think that’s why it’ll be a shock for me. I’ll manage, it’s just going to be tough. I’ll aim to get 4k behind me. I need my hair extensions back in too. I can’t go without them 🙈

Hi OP, I was in a similar position to yourself; prior to getting pregnant I had loads of disposable income and didn’t even budget for spends (awful I know!) on Mat leave I’ve given myself £200 a month ‘pocket money’ and have tried very hard to stick to this. I’ve even managed to save a small amount which I’m proud of. Babies don’t have to be expensive, just dont fall into the trap of browsing shops and spending loads out of boredom. Me and my DD get out every day but mostly to the park/buggy walks.
it helps having a supportive partner who realises they need to contribute more than normal.
You will be fine :)

You must must must look at shared parental leave. You can ‘return to work’ over holidays to be paid for them - I’ve had about 10-13 extra weeks pay for each of my leaves as a result, this time returning for Easter, May half term and the upcoming summer holiday. You can go back on the first Monday of the holidays; you don’t have to go back a day or two before. Many HR departments are pushing back so check out the guidance and be patient but insistent. It makes a huge difference.

teachersspl.org.uk