Money advice

[lolla591]

I am due my first child in just under 3 weeks and the prospect of living on maternity wage is becoming such a worry.

We borrowed money of my parents in order to put a deposit on our house, to which we pay back £300 a month. Whilst I'm on maternity I really don't think we can keep up with these payments.

Is it unreasonable of me to ask my parents if we can hold the payments until I'm back at work?

It's such a stressful time in life already I don't want to added risk of them being angry with me for asking. Please help?

I wouldve said so! Id hope my mam and dad would understand your going from a decent enough wage to literally a 3rd of it(maybe less)
I know im petrified of trying to live on maternity pay, only reason I know id get through it is I used to manage on £400 a month as an apprentice, in my own place with 2 cats so know it can be done.

Id imagine your parents would understand.

Ditto above - speak to your parents

Im due in Feb and want 12 months off (career change as well) which is also terrifying but the thought of living off literally nothing a month is scary - and im alone!

But it can be done!! Just have to budget and save as much as you can now before you go off

I think you should speak to your parents - hopefully they will understand.

I have just switched jobs and am not eligible for the enhanced maternity pay. I've had a job in one form or another since I was 16 and the thought of not having my own income is petrifying but as my younger sister reminded me the other day some people get by on a lot less so it will be ok (because it has to be!!)

I can't believe how expensive childcare is...!!

Thank you all! I wonder if showing them this thread may help, as you all seem to understand!

I'm also wondering how to bring up the subject.. Maybe tell them whilst handing them their first loving grandchild ?

I presume your parents will already know they won’t be the getting repayments which your on maternity! Just say to them as you know money will be tight so we won’t be able to pay you till I return to work. If they’re anything like mine they’ll write it off anyway ☺️

Just speak to them,I'm in a similar boat and my mom said not to worry short term. She will not provide any childcare which I understand so my costs will be high when I rtw . I'm budgeting but it's a scary amount of money each month tbh even when on full wage let alone mat pay

If they aren't happy with getting no payment at all see if they will take a reduced payment? Hope all goes well

Well hopefully they'll understand... but to be honest if I'd lent someone some money with an agreed timeframe of when it would be returned and then that changed due to pregnancy I guess I wouldn't be that happy (about the money, not the baby!). If hope that was factored in before they'd started trying! For instance I'm doing a PhD part time and self funding it which is a few thousand pounds extra each year. I'll still be spending that while I'm on maternity leave but had factored in my financial income and outgoings before I got pregnant, to ensure that I could afford to have the baby! I hope your parents are okay with it and don't need the money... but don't be too harsh if they're not!

Alot of people are just assuming that your parents will understand but none of us actually know your dp so i wouldnt take for granted that they will.

How long are you going to be on maternity leave?? If your taking a full year i wouldnt be happy to wait that long for money i was owed especially it its alot of money. What is their financial status? Can they afford to go with out you paying back what you owe? If they are struggling on a pension i dont think its fair of you to let them down.

I would ask to reduce your payments, maybe by half, but be prepared for them to say no.

The other possibility is to take a maternity
Holiday from your mortgage. Some companies offer the chance to reduce payments for a 9 month period.
If your parents need the money, that may be an alternative. Worth checking anyway.