How do people maximise their mat leave/time at home when children are small? I have 12 weeks of occupational pay and then the remaining statutory pay. We put aside savings prior to conceiving so that we have approx 9000 to support monthly living while DC 2 will have higher childcare costs. We've also allowed for DC 1 needing wrap around care.
I will have the option of returning to work part time for 6 months but will then need to make a call on whether to drop down or not.
I am the higher income earner. OH is very hands on with the kids and at home thankfully. No question about it my earning potential is higher than his and no amount of overtime will bring him up to my pay. There's also times of the year when overtime isn't easily available.
The more I think about it the more I want to take at least a year but potentially a career break also and spend some time at home. How do families with a SAHP manage the cost of living and being at home? We want to be able to provide DC with a safe, comfortable home, some hobbies and a good education. We are not from the UK so there are also some short trips home during the year more so than foreign holidays but it would be nice to provide that cultural capital too.
*In terms of career and pension a 2 year break is not damaging. I've been paying into a good pension from age 21 and can take a break without it having a major impact. Career wise I've already taken a step back down the ladder but could move back up relatively easily with my experience should I choose to.