£12k saved, 6 months to go!

[toadabode]

I'm brand new to mumsnet so I'm sure this question has been answered countless times before, but I was just wondering if anyone could tell me how much money you saved for your maternity leave? Since finding out I'm pregnant I've been thinking about this a lot - I want my partner and I to both be able to really enjoy my maternity leave.

I'm being paid 90% of my salary for 6 weeks, then half pay+statutory for 12 weeks, then statutory for the remaining weeks.

Any of your insights/ experiences would be much appreciated, thanks

We haven’t saved anything specifically for my mat leave. I get four and a half months full pay, four and a half months statutory, three months zilch. DP’s salary is enough for both of us but I’m intrigued to know if I will spend more or less money when on mat leave. Baby products, groups and lunches with new mums vs less evening socialising and holidays?

I'm quite surprised that people are saying that they'll continue paying their half of household costs even when their income drops. Obviously I understand if there's no other option if bills are that high, but considering that being off work for up to a year will influence your career development, pension and personal savings, I think it's fair that DP pays more of the running costs during this time. We have money saved up as well though, especially when my 3 unpaid months fall on Christmas time. But I will be paying expenses proportionately (1/3 when the wage is cut down to 1/3) and use savings to ensure I don't have to ask money from DP for personal expenses.

Well this seems a show off post...

@FlowerPowerBecky glad someone said it I was thinking the same thing 😂 12k is an awful lot of money!!

@flowerpowerbecky ^this!

I'm quite surprised that people are saying that they'll continue paying their half of household costs even when their income drops.

I agree! I currently out earn my husband substantially so pay 2/3 to his 1/3. Once I’m on mat pay though we’ll redo the ratios. Anything else is incredibly unfair!

I didn't save a penny. I got full pay for 8 weeks, half pay until 6 months and will be on SMP for that last 3 months. We just adjusted what our personal spends are each month and have got by.

It's very personal to you and your situation - if you're the main earner then I can see more reason for saving but it really does depend on your outgoings and lifestyle.

I spend less being on maternity leave - no shopping trips on my dinner hour, no Starbucks and no lunches out because I 'forgot' my own.

And no monthly bus pass to pay for too.

We adjust our ratios of what's going into the joint account for bills depending on what my salary is for the month.

I was just wondering if anyone could tell me how much money you saved for your maternity leave?

Why would this have any bearing on your plans? If I told you I'd saved £300k or £30, how will that change anything for you?

This is so dependent on where you live, your outgoing costs and your partner’s situation.... cost of living is significantly higher in London than the north where my family are so if I did tell you how much I saved it wouldn’t have a bearing on you anyway? Just work out how much you need each month and what your shortfall is...

So no one has to get a loan out for maternity leave?? No.. just me We both 'get by' on 2 full time wages I'm saving zero! Will have 18 weeks at 90% could do KIT days and a month A/L then back to work unfortunately!!

Getting a loan out for maternity leave would really worry me - once you go back, it can be hard to save let alone to repay debt, as childcare is a big expense, and many people are also planning another maternity leave soon.

Welllllll this post has now made me feel a bit panicky! I’m 26 weeks pregnant and so far have saved zero for mat leave. I work full time now, and after my 9 months maternity leave I will be going back part time so our income is going to reduce anyway and we’re just going to have to learn to manage on less! We’re finishing off home renovations and having a new bathroom fitted so any spare money has gone on that and buying baby’s stuff, so we haven’t been able to save anything additional!

sounds enough to me. depends on your outgoings. having a child often means reprioritising. unless you are absolutely loaded

lets just hope you are not spending it all on savoy cabbage and ready meals that you can eat with your left hand with a spoon..