Coping after SMP runs out

MrsTinks

ukjoel wrote: »

I think there are a lot of people in your situation.

Govt kicks in with some support for nursery when kids hit 3 years of age but until then there is nothing apart from child benefit of 20 quid a week.

We have just had second child and depleted our savings after first one. Have had to switch mortgage to interest only until the kids start school.

Am quite !!!!ed off with govt support as we are taxed to death for working but when income suddenly falls off the cliff as one of you is home with kids you only get £400 a month statutory maternity.

We are both reasonable earners both paying 40% tax with no debts apart from mortgage but things at the moment are a real struggle and I think govt should kick in a lot more money for childcare for years 0-3 if both parents are working.

Am not looking for something that could be used for chavs to drop their kids off at while they go down to town, but increased childcare vouchers would be useful.

I have to agree... We earn good salaries too and even with me on maternity leave then I can't afford to stay at home if we want to pay the bills and keep our home. DH's income on paper is too high for us to get anything other than non-means tested support (which is what? £17 a week now?) I'm trying to clear as much debt as I can before going on maternity leave etc but I'm still failing to see how I will make the money stretch without doing some sort of self employed work whilst I'm on maternity leave - which thankfully I can with my employer.

There is ALWAYS ways to earn money out there - it just depends on how willing you are to make sacrifices and work to do what you want to

OrkneyStar

Just to say, if you REALLY want to manage, you do somehow. It is a case of cutting back where you can, get the best deals on insurance, utilities etc, meal plan and make shopping lists, be prepared to have less new clothes etc or second hand, sell stuff on ebay, do surveys/mystery shopping etc. I gave up work when DS was born, and once the SMP ran out it was a case of budgetting on DH's (meagre) income, tax credits and child benefit. As another poster said www.entitledto.co.uk will tell you benefit entitlement, and if you can throw as much as possible at any debts to kill them before baby comes along. Baby does not need to cost a lot (when they are wee they don't need half the stuff that is available and you will get gifts, also join parenting clubs etc, you can breastfeed and make your own purees etc at weaning time, use real nappies, toys/clothes second hand** or cheap things like, tumblers, use library books etc).
Good luck.
x
** As another poster said I would not get a second hand car seat or mattress, otherwise most things are fine!

maggie21

MrsTine wrote: »

I have to agree... We earn good salaries too and even with me on maternity leave then I can't afford to stay at home if we want to pay the bills and keep our home. DH's income on paper is too high for us to get anything other than non-means tested support (which is what? £17 a week now?) I'm trying to clear as much debt as I can before going on maternity leave etc but I'm still failing to see how I will make the money stretch without doing some sort of self employed work whilst I'm on maternity leave - which thankfully I can with my employer.

There is ALWAYS ways to earn money out there - it just depends on how willing you are to make sacrifices and work to do what you want to

I'm kind of in the same boat too. We both earn around £19k so the SMP isn't really much. I wrote to my local MP recently as I feel SMP should be means tested, as one payment does not fit all.

Haveing been together for 5 years, we have a nice house, and mortgage to go with it! We bought it with two wages, we weren't really thinking about kids then. Now we are and all I can think, is how can we afford it???

As everyone else says, somehow you do. We've just started saving everything we have now, so at least when my wage stops we'll have the savings to top up the SMP. Although I don't see it lasting long enough to see a child through nursery :rolleyes:

Apparantly it's all worth it :j

Good luck

eyespy

Hi I remember this feeling very well when I found out I was expecting. If you are entitled to any housing benefit and the child tax credits my only tip would be to get your baby registered as soon as you can and send off the forms asap!! They closed a load of registry offices where I lived and we couldn't register my son for 2 weeks. The benefits work like a domino system you can't claim your housing benefit til you have your tax credit award and you can't get your tax credit award til you have your child benefit award and you can't have that til you register your baby. I know they backdate them but it doesn't help at the time when you have a brand new baby. I hope all goes well for you we used terry nappies and they aren't half as bad as people make out and wash up lovely. I have always bought (& sold) most clothes and equipment on ebay too as they grow so fast and they don't know the difference when it comes down to it. Best of luck

jane130

I desperatly wanted to be a sahm , my eldest is now 17 youngest in now 5 and i have been a sahm mum for all of their childhood . DH didn;t earn a huge amount quite often less than £15000 a year but we managed and still do becuase its important to us , we are lucky enought to live in council housing but pay all our bills and cover the debts that my hubby built up trying to "imrprove" our lives , we eat well and the children get what they need ( but not always what they want) it can be a struggle at times but we got through it and will continue to until my youngest is old enough to come home from school alone.

davesanae

We have been renting now for a few years but would like to get our own place at some point and are saving for a deposit at present. This has meant that although we would like to start a family, we have put it off as we just couldn't afford the loss of one wage and the extra expenditure.

I am a little surprised at the attitude of some on these boards that think the Government should be bending over backwards to help them with handouts, benefits, rental payments etc. when it was their choice to have a baby (and it is a choice, accidents don't have to happen if you are sensible) and therefore their responsibility to work out whether it is affordable.

We have taken the decision that we just can't have a baby yet and I would rather take that line than expect other people to pay my rent for me, or part of it.

nomoneytoday

To the OP - try and pay off as much of your debt now whilst you are still working. Trust me - it may be hard to do it now, it will be 10 times harder with only one income

hallucenogenic_midas

remember to check ebay before you buy anything for your baby and ask around, friends of friends are usually more than happy to get rid of unwanted baby items. Then when you've finished with the items list them back on ebay.

And don't forget Freecycle, there is tons of baby stuff being offered where I live so check out what people are giving away in your area.

cranezoe

I work part time now doing the same job I did full time before having my baby. She is two now and I went back when she was 6 months. we are lucky enough that my mother in law has our daughter while I work and doesnt charge us for that.
we have a mortgage to cover and benefit wise get a bit of tax credit and the child benefit.
anyway, it doesnt cost as much as it might. I didnt buy all the things you apparently need, used re-useable nappies after a couple of months, breastfed til I went back to work and our house isnt big enough for loads of toys etc so we tend to limit them. my wage halved and my outgoings went up a bit to pay for things for the baby but it was do-able. and still is.
Now I do some mystery shopping to boost my income and also do surveys on line for vouchers and enter competitions - have won quite a lot for my child!

cranezoe

I also know quite a few people who work when their partners dont. thats a good system too (as long as you still see eachother!) and means both parents get to spend time alone with the child.