How do you afford to have maternity leave and then pay for child care when you go back?

Question

How do you afford to have maternity leave and then pay for child care when you go back?
im preg with my first child and was wondering how people manage money wise whilts they are on maternity leave and when they have to go back to work can anyone give me any tips on this me and my partner both work full time and come home with about 1800 after tax and ni we have about 400 to spare when we have paid the house bills and stuff we are not a couple who go made with money and dont go out all the time i was just wondering how everybody else managed because i know im not on my own.thank in advance of your reply

Answer 1

This is a tricky one and there's no one solution for everyone.

What someone else said about getting 6 months on full pay is WRONG. My employer offers only 6 WEEKS on full pay then 30% for another 20 weeks. There's also an option to have a further 26 weeks unpaid. So you see it does vary a lot between companies. You need to check what your company offers for your term of service.

I think the best option is to start cutting down on luxuries (Sky TV, meals out, new clothes, trinkets etc) and at the same time put a bit of money away in a separate bank account so you can pay the essential bills for at least a few months after the baby is born.

I gave up work when my son was born (although it wasn't my original intention). We lived off savings for a while then went on the Social for 6 months before I found full time work. My OH was out of work unfortunately.

I'm now pregnant again but this time things are different. I'm still the main wage earner but am much better paid than before. I also have the option to work flexible hours and at home if I want. I know that's not always the case for everyone but you should check out flexible working with your employer. There was a new law brought out a few years ago for anyone with children under 8 that they can request a change in hours if necessary.

Good luck with your pregnancy, birth and staying home. I hope you can manage.

Answer 2

I know how stressed you are...I had the same questions when I was pregnant...all I can say is that somehow, you adapt and it just works out.
Make a budget and stick to it. If at all possible, put as much $ as you can into savings before the baby gets here so that you have a little cushion for unexpected expenses. Try not to eat out alot (especially lunch...it's easier but if you get fast food all week for lunch, that's at least $20/week if you figure $4 or so/ meal). Clip coupons (that could save you around $10-$15 on your grocery trip).
When I was pregnant, my husband worked on the side and saved up 3 months of what my check would be because we knew I wouldn't get a paycheck. Now that I am back at work, my sister (who stays at home with her kids) watches my kid for $400 a month (compared to $1200 or so for daycare in my area). Ask around to see if you can find someone who will watch your kid - a neighbor, family member, someone from church. You'd be surprised to find that people will watch your kid for cheap if they are able.
Just really watch what you are spending your $ on.

Answer 3

Well from the time I got pregnant until birth, I saved. I calculated how much money it would take to pay bills for 2 months. Rent, utility, cell phone, etc. (U get the point). In total I needed to have 2500$ to pay my bills w/o working for 2 months. So with that in my mind I kept that as my goal. By delivery date I needed to have 2500$ tucked away in the bank. And 9 months is ample enough time. I even ended up w/ a little more, I live in Washington DC, and I had a C-section therefore I was able to collect Unemployment compensation because the Dr. recommends not returning to work as quick if you had natural birth. And DC has a program for working mothers where Department of Human Services Early Childhood Development gives u vouchers to pay for childcare. I only pay 2.00$ per day and DHS pays the rest. They pay based on your income. So I'm only spending 40$ a month in child care. Look into resources and see what your state has to offer try everything, Sign up for WIC(Women, Infants, and Children) You'll get free milk, cheese, eggs, cereal, juice, beans, tuna and other stuff for yourself until baby is 6 months, and your baby will get free formula until 1yr. And free food for up to 5 yrs. Even try for Food Stamps. I get 297.00$ every month, so try to find out everything your entitled to as a pregnant woman and sign up for it and get it, you'll be singing praises once you do. It makes my life so much easier and this is my first child too.

Answer 4

Hi there. You should be elligible for child tax credits and working tax credits if you're in the UK. Through them you can apply for help with childcare. They subsidise up to 70% of the cost. I wouldn't manage otherwise. Hope this helps and good luck with the baby!

Oh, by the way, here's their number: 0845 3003900

Answer 5

if the 400 bucks are spare i would start to save it NOW!!!!! my partner and myself survived on only his income and still do now? centrelink was too much of a stuff around for "f" all money any way and we get our entitlements as a lump sum at tax time. as for day care you are entitled to benefits from the family assistance office and this brings fees down dramatically!!!

congrats and good luck!!!!

Answer 6

I WOULD TRY AND SAVE AS MUCH AS YOU CAN RIGHT NOW, AND ONLY BUY WHAT YOU REALLY NEED. AND WHEN ITS TIME TO GO BACK TO WORK, MAYBE A RELATIVE CAN WATCH YOUR CHILD WHILE YOU GO BACK TO WORK FOR A WHILE. UNTIL YOU GET BACK ON YOUR FEET. THATS WHAT I DID. I'M PRETTY SURE ONE OF THE GRANDMAS WOULD LOVE TO TAKE CARE OF THE BABY , GOOD LUCK, AND EVERYTHING WILL WORK OUT FINE, IT WILL TAKE TIME BUT IT WILL.