Tips for having long maternity with low money?

[mum2be99]

Hello all,

I'm early on in pregnancy but there's no harm in financial planning early!

So I'll be on Statutory Maternity Pay which is barely gonna cover anything tbh. I'm the highest earner and luckily I can save around 500-700 per month while being frugal (no current kids, no car, not much of a consumer!) But I'm sure a lot of this may go to the big expenses coming with a baby as well as unexpected big expenses we have to prep for

Our monthly outgoings are over 1000 so I'm concerned I won't get much a of a maternity leave and be forced to go back to work, but other people do seem to make it work. I don't want to sit down and do the proper numbers until I'm 3 months into the pregnancy because I don't want to stress myself out even more now

My work do offer a great maternity pay scheme but only when you've been there a year, and I haven't! 🙄

So any tips would be welcome. People do seem to make it work so I'm hoping my savings cover it if we have a frugal next 8 months..

Do as much saving as you can now. Sell everything you can on ebay/Facebook. Buy 2nd hand, you really really don't need all new clothes etc for baby. Food from lidl/aldi. Baked potatoes for tea as many weeks as you can stand it.

Can you partner get a new job?

He is looking but doubt he'd ever be on loads more money :( And he's happy where he is too

Don’t forget if your partners on a low wage you will be able to claim Universal credit while on SMP which will top it up. Worth using one of the sites to check plus you will get child benefit.

I think I could have a baked potato everyday to be honest 🤣

What's the plan for once baby is here? Childcare etc?

Thanks @Akire - I wasn't aware of all this, need to do my research

@KindlyKanga

What's the plan for once baby is here? Childcare etc?

Oops meant to say because saving as much as you can now will get you in good stead for paying for childcare. And if you can have a baked potato everyday then go for it!

I work from home so can provide childcare to an extent. Also grandparents.

Ooh yeah there's a website I think its called "entitled to" really handy

Saving now is brilliant, get as much in the kitty as you can.

Don't spend it all on expensive baby stuff. Pushchairs/travel systems can be £100 or £1000 be realistic with getting the features you NEED rather than the colours and look you WANT.

Do the sums about going back to work. Childcare is expensive but so is taking a career break. If you have a job with promotion opportunities it may be worth swallowing the short term costs of childcare over a 2-3 year period because you could increase your salary during that time in a way you wouldn't be able to do if you take a career break.

DD went to full time nursery at 9 months. Out childcare cost was double our mortgage between 9 months and 3 years old (when 30 hrs funding kicked in). But in that same time period I doubled my salary, and now when DD is 7yo I'm on 4 times what I was on when she was born and have no childcare costs. So it was worth the financial struggle for 2 and a bit years.

@KindlyKanga

Do as much saving as you can now. Sell everything you can on ebay/Facebook. Buy 2nd hand, you really really don't need all new clothes etc for baby. Food from lidl/aldi. Baked potatoes for tea as many weeks as you can stand it.

Definitely this: you really don’t need anything new or fancy for a baby. Charity shops are your friend. Look around for local baby groups etc that are a couple of quid for a cup of coffee and other parents to talk to while the babies lie around. Get a reusable thermos cup for home made coffee in the park, rather than being tempted into cafes all the time. Enjoy your time!

My work let me use unused annual leave and spread it over my 9 months mat leave. Speak with your employer to check if this is an option?

Remember you have KIT days

Depending on where you are located there are lots of free mum and baby classes so look up those in your area rather than feeling like you have to pay for the private classes

Save as much as you can now

Buy baby clothes on Vinted - saves me a fortune and there are some gorgeous bits. Buy all baby bits on FB marketplace - some amazing steals!

Big congrats on the pregnancy

Thanks @HalfShrunkMoreToGo

This is an interesting question actually and one I feel sort of guilty about. My work don't know about my pregnancy yet (I'm only 7 weeks so very early days), but I'm going in for a promotion and presenting to the CEO next week why i should have one etc... I thought it'd be good to get it in now (it would be around one month for the promotion) to get more money to save.

Do you think it will come across as dishonest once I tell them I'm off to have a baby at the end of the year? I think pregnant women should be entitled to promotions as much as everyone else but still would feel that guilt if I got it. But they'd still have me for quite a while yet.

Op, do not rely on the fact that you WFH to provide childcare, it very often does not work like that and can be impossible to look after a baby and work. You may need a longer term plan than this!

Sign up to your local library, unlimited books! Ignore all the pressure to be going to baby classes all the and stuff.

Amazing thank you!! It's all so brand new to me so never even thought of sites like Vinted!!

And spreading annual leave days across mat leave sounds like an excellent idea. I'm gonna save as many days as I can!

Most companies have a clause which state WFH can't be used in place of childcare - it's not safe for the baby and takes the p out of your employer and colleagues

Sometimes as a woman and the Main earner you just have to go back to the work that's life when you have kids with a lower earner partner

So remember you accrue annual leave. So you could take 9 months off on SMP and then use annual leave accrued for say August,and then say another 2 weeks of next years added on , to bring you to half way September?

Cancel any subscriptions you really don’t need or tv packages
Bring lunch and stop buying coffees etc
Batch cook
Don’t feel pressured into putting baby in to expensive “classes” a playgroup is sufficient, just take them around with you to do things like swimming etc
Don’t buy loads of same brand anything as you’ve no idea what baby will prefer ie: milk/nappies/dummies!
Join a swap shop Facebook group - we have one and we swap our unused outgrown nappies for eg

Once you have the baby, you can sell items and then save for any days out you’d like?
You’ll want to have money to do stuff with baby- so no point scrimping for 18 months when you still can’t do much.
You don’t need a baby changing station really, ans if you do get one- get it second hand
A Moses basket is NOT needed
A next to me bed can be bought second hand - they’re expensive and only in them for 5/6 months.

You’ll also get child benefit once a month,
I saved enough to pay the house each month, DH pays bills and then we live off the rest.
nd just remember it’s not forever

You can get loads of stuff second hand which is great quality because babies grow out of stuff so quickly. Checkout eBay and market place and second hand stores. Same goes for maternity clothes because people do use them for such a short time.

Don’t feel you need to get lots of expensive stuff and go to lots of baby classes - honestly all your baby really wants and needs apart the absolute essentials is your love and attention! They will be just as happy with a wooden spoon and pot to bang on and random stuff from your house as they will be with musical instruments and fancy sensory toys.

Lastly, as others have said, do check if you are entitled to any benefits.

@mum2be99 absolutely not dishonest. And I know this isn't nice to think about but you don't know how your pregnancy will pan out.

I agree, it's very much a last resort. I work in a quite intense job so would have to go part-time as I get back into work at least. Grandparents would be the only other option / paying for nursery.

Exactly my thinking @KindlyKanga

@mum2be99

Amazing thank you!! It's all so brand new to me so never even thought of sites like Vinted!!

And spreading annual leave days across mat leave sounds like an excellent idea. I'm gonna save as many days as I can!

They might not let you spread it across. My company insisted it was stuck on the end. KIT days are good.

As PP have said I'd think very hard about trying to look after a Child and work. My work tolerated it in lockdowns or if a child is off sick but that is generous a lot won't.

@KindlyKanga

Do as much saving as you can now. Sell everything you can on ebay/Facebook. Buy 2nd hand, you really really don't need all new clothes etc for baby. Food from lidl/aldi. Baked potatoes for tea as many weeks as you can stand it.

100% this.

I saved a tonne by scouring FB market place and ebay from 8-10 weeks. I found when I collected things women often gave me “extra items” they looking to get rid off. (Nipple pads, mat pads….portable baby seats which clamp to the table in restaurants, a bumbo….all sorts!

Church classes are very cheap vs. The fancy ones which can be £15 per session.

We stopped eating out completely. And did either fakeaways or made a three course dinner in and would follow a recipe book and make nice things…