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..

WFH and young baby especially in an intense role is not viable

Plus have your checked your contract on this point?

What about shared parental leave?

@Baboutheocelot

What about shared parental leave?

Good shout.

Holiday pay cannot be paid on top of SMP, you are either on maternity leave or on annual leave but cannot be both and once you are paid for the annual leave the maternity leave stops - this is Government rules. You can add your holidays to the beginning or end of the maternity leave.

You can work up to 10 paid days while on SMP, I did one a week in the last 10 weeks of my leave, I was off for 9 months with both babies. Worked right up to 38 weeks, then a week annual leave then maternity started.

Both of my leaves have been SMP only, Iost over £1000 a month in net pay :( it was tight but it was fine, We did things like the following -
Took a 2 month mortgage holiday (free'd up £650 a month in the last 2 months of leave)
Saved like mad, both of us, while I was pregnant

Also be aware that you may get tax rebates in the first couple of months too, and as long as you each earn under £50k a year you'll get child benefit of around £80 every 4 weeks.

@IntrovertedExtrovert1

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

You absolutely cannot legally take annual leave whilst on maternity leave.

@mum2be99

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

Would be amazed if your employer accepted that.

@Baboutheocelot

What about shared parental leave?

Not looked into this. Have you done it before?

Is it basically sharing maternity leave with OH?

You can work up to 10 paid days while on SMP, I did one a week in the last 10 weeks of my leave, I was off for 9 months with both babies. Worked right up to 38 weeks, then a week annual leave then maternity started.

It’s 10 days during the YEAR, not just the 39 paid weeks. Financially best to do them in the unpaid portion of leave (if you have one).

@QforCucumber

Holiday pay cannot be paid on top of SMP, you are either on maternity leave or on annual leave but cannot be both and once you are paid for the annual leave the maternity leave stops - this is Government rules. You can add your holidays to the beginning or end of the maternity leave.

You can work up to 10 paid days while on SMP, I did one a week in the last 10 weeks of my leave, I was off for 9 months with both babies. Worked right up to 38 weeks, then a week annual leave then maternity started.

Both of my leaves have been SMP only, Iost over £1000 a month in net pay :( it was tight but it was fine, We did things like the following -
Took a 2 month mortgage holiday (free'd up £650 a month in the last 2 months of leave)
Saved like mad, both of us, while I was pregnant

Also be aware that you may get tax rebates in the first couple of months too, and as long as you each earn under £50k a year you'll get child benefit of around £80 every 4 weeks.

That makes sense. I'm glad it worked out for you! No mum that I know has much disposable income and I think that's the sacrifice you have to make in today's economy. It's almost like the UK govt don't want you to have children at all...

Thanks for the advice. I'm sure £20 per week goes far when struggling that much. I'm putting away at least 500 per month so really hoping for the best and lucky to have supportive grandparents that could purchase big things like prams and cots etc, though I've never been one for wanting designer/top end stuff.

I haven’t done it so I don’t know the details but it does look as though you both share the maternity leave.

What is oh going to get doing...if he's kit increasing his wage could he work less and provide childcare/reduced hours...tbf the 1st 3 yes are the most expensive childcare wise so once your ready plan that out...
He should be able to share maternity leave..I know dome couples where mum took 1st 5/6mknths and dad next 5/6 months ....can't remember actual length of time..

Thanks @WouldIBeATwat that's what I get for not concentrating, as I only took the 39 weeks I just automatically said while on SMP but yes, it is during the maternity leave entirety.

@averythinline

What is oh going to get doing...if he's kit increasing his wage could he work less and provide childcare/reduced hours...tbf the 1st 3 yes are the most expensive childcare wise so once your ready plan that out... He should be able to share maternity leave..I know dome couples where mum took 1st 5/6mknths and dad next 5/6 months ....can't remember actual length of time..

Looking into Shared Parental Leave now. This could be an option for us with me being the higher earner.

Be prepared for your HR teams to struggle with how SPL works. Not enough people do it for them to get really under the skin of how it works.

Save as much as you can. You also really don’t need to spend a fortune on a new baby. We bought DS cot bed second hand (a really great mamas and papas make) with just a new mattress and he’s still in it now at almost 3. We did buy a new pram but I’ve just sold that whole thing on Facebook marketplace for £100 (it was literally everything you would need) and it’s immaculate so the buyer got a bargain.

I know it feels exciting and that you want to buy your baby the best but it’s honestly matter less and I’d rather I had more time off with the baby than a £1,000 pram getup that they are in for five minutes.

Best of luck OP!

I found that I naturally spent a lot less while on maternity leave anyway, no drinks after work, much less meeting friends for dinner, no buying lunches/coffees at work etc which all adds up so it really wasn't as bad as I had anticipated.

Try to live on your maternity leave budget starting from now and save the excess.

And don't spend over £1k on a pram, it's not worth it. Decide what you want and then look on gumtree or Facebook marketplace, you'll always find ones in good condition (eg that have been bought for grandparents to use and hardly ever got used) for reasonable prices. IKEA cots are just as good as more expensive ones. I would pay for a new car seat and an also an isofix base if you're going to be out in the car quite often, that is something that's definitely worth the money.

Thanks @feelingannoyed1 - will definitely consult trusty IKEA. I've no problem with going second hand either, it's mad how some mum's choose to go full on designer for their babies and sacrifice so much, even when they're not on good money anyway!!

It's just the car seat and mattresses you shouldn't buy second hand right?

Yep car seat and mattress should be new.

Also as things progress keep an eye out on Supermarkets for baby events, they often do things like tommee tippee bottles 6 for £9.99 or big boxes of Aldi Mamia nappies for less than a single pack of pampers will cost.

I lean towards simple options in general and found a basic baby monitor which was about £10 perfectly sufficient. We got gifted one of the fancy video ones when DD was born and ended up returning it to Boots and getting a voucher which we were able to use for several months worth of baby formula which was much more useful.

Definitely there are bargains to be had. I used to scour eBay in the middle of the night for bundles of clothes and toys etc when my bladder kept me up heavily pregnant then later when stuck under a sleeping baby. Very easy to dress a baby on next to nothing. Also factor in the resale value too. They grow out of toys, gadgets, clothing very quickly and you'll likely be able to resell for what you paid within a few months of use. The more pregnant you get the more generous everyone becomes too. Lots of neighbours, colleagues and friends of friends that I'd barely met passed on or gifted all sorts of useful things.

I didn't do any baby classes and managed to meet lots of people through local groups that were either free or charge a pound or 2. I really found being visibly pregnant or having a baby is an instant talking point and makes people much more open to chat even living in an area where people would otherwise do anything to avoid a conversation. I made some friends that way or got good tips and local info from other mums

Although everything you read tells you to prepare for the baby they really do need very little early on. Things that people told me they couldn't live without I didn't use at all. My baby wouldn't lie down ever so the very pretty Moses basket I was gifted got used about once which I would've really resented if I'd forked out for it!

Agree with pp - get as much as possible second hand. Babies grow out of things so quickly & you just don't know what they will take to.
I found Facebook marketplace great for this. Got loads of free nappies as people give them away when their kids size up. Have an entire years worth of clothes that cost less hardly anything because people sell in job lots.
Didn't bother with toys/books as figured they are good things to ask for as gifts after baby arrives.
Pram, cot, baby carrier - all second hand at great discounts.
Just new mattress & car seat. Will be a pain to move it between cars but will save us hundreds.
Basically research everything you might need/want & then keep an eye out for deals, you'll be able to get so much cheap & even free. Also check out charity shops.
Good idea to try & live on maternity wage now to get used to it & increase savings.
Also agree with pp that WFH with baby probably won't work well - & to check your contract, my husband's specifically states you can't be caring for a child & he would be disciplined if found out.
My husband & I are thinking of condensing full time hours into 4 days each so baby only needs 3 days at nursery (will still cost more than our mortgage!)
Free baby classes are usually available at local libraries. Try & make some mum friends locally so you can meet up at each other's houses, basically free & babies get some socialisation too!
Once you're past the promotion, consider asking your company if they have any flexibility on their maternity policy?
If you're WFH consider not starting your maternity leave until you actually have the baby so you can more time afterwards & use leftover holiday at the end too. Be aware though that you don't know how your pregnancy will go, you might be too unwell to enable this.

I love this @jolota, great advice thank you. Sorry to hear the childcare costs so much but hope it works better for you condensing the hours!!

I would consider going part-time as many mums do if the money was right. And yeah flexibility on the maternity pay option could be worth asking for. I've never been in this situation so I'd expect a hard no but my company are really modern etc so might come to a slight agreement, no idea though.

As classes aren't something I've looked out for previously, I definitely will now, especially at the local library these sound so cute. Thanks so much for your advice and all the best to you 🙏

Thank you @dane8 - great to know what I need to prioritise as companies try sell you anything and everything!

Thanks @Mumbleiro - I'd defo relate with the moses basket. Im still annoyed that my dog never uses the bed I got her, which won't have been quite as expensive 😅 It's nice to hear that it's a sort of ice breaker when you're more heavily pregnant - I'm really looking forward to getting to this stage and hopeful everything is gonna go okay! Obviously it's way too early to start buying stuff now, would you wait until around the 5/6 month mark to be taking advantage of bargains ??? I want to get prepared asap and have everything set up so my dog can get used to it, at least by month 8.

I would echo looking at shared parental leave, I was the higher earner and I did this. I had 6 months off (which was enhanced pay), it then went down to SMP rates so DP had 3 months off. Worked well for us.