MSE Pregnancy Club III

Lucifa73

candice56 wrote: »

Hi guys, Im having a mini panic about money and Im REALLY sorry to those of you that wont get SMP or may not be earning up to D-day but would appreciate your input.

If most of maternity is spent just receiving 117 a week(or whatever that is monthly) how do we cope???!!!!

I pay most of the bills from my account and dh usually contributes then pays some other bills plus an old loan from his account.

I figure even if i save like mad between now and May to dip into evry month that I will still need more than dh normally gives me to cover our regular bills AND have extra baby bills?????

make any sense, any reassurance out there??

First the bad news - mat pay is taxed so you'll get less than 117 depending how much salary you've earned in the same tax year as. Anything over you personal allowance is now taxed at the basic rate...

However, you do also receive child benefit (around 20 a week I think) and depending on circumstances may be entitled to benefits re rent/mortgage, council tax etc. I'd check with CAB or benefits department. You sound like you'll also be entitled to tax credits so look into that too.

Sorry my advice is limited but I have only really looked at what my entitlements are and with 2 qualified professionals in the house that's basically nothing beyond SMP and child benefit...

SeptemberBaby_2

Candice, I think the answer is that DH has to contribute more or possibly all! :eek:. Don't forget about Child Benefit (£18.80 pw) and look into Childrens/Working Tax Credits too.

www.direct.gov.uk

and

www.entitledto.com

xx

candice56

Thanks Lucifa, we wont be entitled to anything above the ordinary because we both earn a 'good' wage. Didnt know smp was taxed, grrrrr as if we dont all pay enough!!

Didnt realise I would get working tax credits AND child allowance so thats good but we probably wont get much because of combined wages.

I think maybe having been very comfatable in the past Im now very UNcomfatable at the prospect of not having enough money, always been pretty frugal anyway but arghhhhhhhh!

Thanks SB DH is on commission in a very slowing industry so earning less and less each month, dont think I can rely on any more than usual. hes 100% with me on money but Im so used to being in control of it all!

ticklepenny_2

sooz wrote: »

Additions do a small maternity range, which goes up to a size 22. The sizes are quite generous, I am being swamped by a size 18 wrap shirt, despite the enormous bump & even huger boobs
For bras, have you tried bravissimo?

Sorry to sound stupid but additions is that littlewoods?

Bravissimo - My back is too big and my boobs are too small -As is my problem with the majority of bra retailers - I just dont exist :rolleyes:

candice56

additions is argos x

angelfairy

i can second the query re child benefit/tax credits etc. it's all too confusing for me.

hubby hasn't been in his current job for a full year and takes home a different sum every month and the calculations would take into account my past years income even though i wont be working any more (although i think you can advise this over the phone and they recalculate)

i just cant work it out on the entitledto website.

feelinggood_2

I don't think I'm going to bother with tax credits. OH earns a very low wage (£6000 a year) but has dividends of varying amounts at random times. Tax credits are often overpaid aren't they? I think it would be easier to just say 'no thanks'.

mummy2mygirls

feelinggood wrote: »

I don't think I'm going to bother with tax credits. OH earns a very low wage (£6000 a year) but has dividends of varying amounts at random times. Tax credits are often overpaid aren't they? I think it would be easier to just say 'no thanks'.

hi know they do over pay sometimes but i wouldnt say not to bother with them.... its a big jump up to the next level when you earn a good amount so your not likely to go over without knowing it. i know this time we only had to let them know if hubbys wage went over 55000 a yr and its from about 29000 so as long as his wages didnt go under or over them amounts it wouldnt change...
we only get 40 a mth from them but it all helps so i would def look into it, if you go back to work you will get more and for the first yr you get more aswell.

rosies_mum

normally with tax credits you input the total from your P60 (is that the one you get at the end of the year?!) for the previous years earnings and they work it out on that figure. For the first year, you get an extra amount, called something like a baby allowance which I believe then halves once they reach a year old (at least this is what it was when dd was born but this was 4 years ago). Working tax credits are then a top up to this amount but we never qualified for that, think you must earn v.little to get that one?! I now get a bit extra towards childcare but I think the full childcare amount gets paid as part of the working tax credit. Hope this makes sense?!

PS Isn't there also a surestart £500 for people on low incomes? Think this helps towards buying some of the baby essentials but not sure how much (or rather how little!) you need to earn to qualify. I'm sure some of the websites above must cover it?

As my maternity pay has kicked in part way through the financial year, they said if I could work out how much it has dropped by and deduct SMP, they could calculate it now so I get a bit more. However, I think I'll wait til April and then input my yearly amount and they can work it out from there! x

MrsTinks

kathy72 wrote: »

Ah, I see you've been to my house too then :rotfl: :rotfl: :rotfl:

Kathy

And mine :rotfl:

Gone from 32GG to 34 HH... And so far hubby hasn't been allowed near them