Anyone else stressed about money

[2020mumtobee]

Don't know about you guys, but I've just worked out what I get in stat mat leave, which isn't enough for the mortgage let alone everything else. And what I need to send out soon to be DD to nursery when I do go back and needless to say. Horrified!!! Stressed!!! How are people managing!!

we've saved for all the things we want to buy for him and have an emergency fund just incase something big goes wrong , but we haven't saved to make up for the income loss. We had months of clearing our credit cards quickly last year then before that it was saving for house/wedding so we're used to not thinking that we can use our whole income anyway.

I start mat leave in a couple of months so we've paid what bills we can as a full annual payment which means a few less direct debits to pay, I've also switched to a cheaper broadband bill and I've cancelled the TV license as we've never used it anyway. So we've found about £50 already in the budget without too much effort, therefore at the moment, I think we've £200 a month left after all bills and everything for baby.

We're going to see how it goes but the difference between nursery costs and my wages mean it would probably make more sense for me not to go back full time as things are at the moment.

@nowaitaminute

I'm not sure that's legal........

@ivfgottostaypositive I'm pretty sure it is...it wasn't my doing. It's what I was advised and informed of. And it happened...

@nowaitaminute I've never heard of getting 2 lots of SMP but sounds great, enjoy it!

Thanks guys! Glad it's not just me I feeling the pinch. We both earn a decent salary but our out goings (cars,mortgages) are high. We didn't plan to get pregnant and can't reduce our bills. SMP is just crazy! I'm the main breadwinner so think I'm feeling the pressure even more as I know there isn't much my partner can do about it.

@2020firsttimemum If you're able to then now is a great time to remortgage as the rates are so low, I'm reducing mine by £100 a month!

We have been saving like crazy to pay for it. I get three months paid leave, 3 months half pay, and 3 months SMP. I will take all of that plus annual leave meaning I will be off for around 10 months, and then my husband is going to take 3 months of parental leave for which he will receive full pay. Even with that arrangement we will need to have about £10k saved by the end of the 3 months period of fully paid leave to fund it.

We’re incredibly lucky to have parents to provide childcare once we both return to work, and we are going to work flexible hours so that we both have alternate Fridays off, so we only need childcare for 4 days per week, until the child qualifies for free nursery hours.

It’s brutally expensive. The only solution is to save absolutely every penny you can while you’re still earning.

@clemmie83 it was 6yrs ago now but I did enjoy it thank you