First baby on the way, tips welcome!

ironman1

I just don't think she's interested in breast feeding and it's her body so I'll have to try to respect it rather than try to save a few quid! It certainly adds up quick though, a real eye opener! Hopefully she'll change her mind ha ha.

We have found out that my GF will get three months maternity full pay from her work and they will give her another three months half.

Although we are grateful it actually works out that she will be about £30 a month worse off than she would if she got Statutory pay for the second three months?! Is there away around that?

We have spoken to our families who are all excited and looking forward to their new Grandchild, Niece/Nephew or cousin! (sounds like a Dingle type family the way I wrote that but hopefully you understand what I mean!).

We know they are definitel buying the Cot, Pram, Crib? Basically all the major things which is great and will really help us out

ticklepenny_2

Dont know if you've considered yet but it may be worth looking at cotbeds so it converts to a bed when they are old enough very MSE in the long run especially if it is a present.

Remember you will also receive child benefit which is about £21.30 a week, then you may also be entitled to tax credits. 3 months full pay and 3 months half pay is awesome! I took the full 9 months as previously mentioned. I had 6 weeks at 90% of my wage and then statutory Maternity Pay which is £124.88 a week (or 90 per cent of your average gross weekly earnings).

HTH

ironman1

I don't really understand how the Tax Credits or benefits work. Do you get that £21 odd every week even if you are on maternity pay?

I know we will find all this out but is anyone kind enough to explain what happens.

As in my GF will get -

3mts basic £900pm
3mts half £450pm

Do you still get the credits etc on top of this? I know it depends on circumstances and I will read up about it. But basically I will carry on working as usual. Thanks

ticklepenny_2

Child benefit of £21.30 is paid to anyone who has a child under 16 or up to 18 as long as in full time education. You can apply as soon as baby arrives.

The same goes for tax credits, you can apply as soon as baby arrives. They will need details of both of your incomes, although take Maternity pay into consideration when doing their calculations.

I used the benefits calculator here to give me an idea of what I recd. I used a fictional DOB for baby but tried it with current year earnings, then used it again for maternity pay. A bit long winded but overall it was only £3 out which wasnt too bad.

Any payments recd will be on top of wages/maternity pay.

HTH

PS. I just did a fictional calculation:
Mr A is 31 and earns £21k
Mrs A is 29 and earns £13,400
Council tax £900
Renting
Baby DOB 01/09/2010
No benefits recd currently (including maternity pay)
Total entitlement £21 a week tax credits. This would be in addition to child benefit.

scuzzi

Congratulations! I am currently 29 weeks pregnant with my first and completely understand your money worries. Thankfully my OH is on board with saving for our future. Have you asked your GF if she wants to have a whole year off? My work has really good benefits (Full pay 3 months, half pay plus smp 3 months, then just smp 3 months) so I'm taking 9 months off, then using up holidays to go back just 3 days a week for the last 3 months to take me up to a year. I think I'll look forward to gaining a little bit of my own life back and easing back into full time work (and easing bubs into nursery).

On the breastfeeding issue, once you start meeting with the midwives they can be quite persistant with the idea of breastfeeding and maybe as time goes on she will change her mind. But if not, she's got to think about start saving now if she wants to keep up her lifestyle. Sounds like you will need to have a big money chat soon.

ironman1

Yeah we do, but as I've mentioned on here before she doesn't like saving, although is getting better!

Since the news I've not done great myself to be honest, been out quite a bit and am close to giving in and going out this weekend with our friends for a dear night in the City. I do find it hard to say know. Maybe it's because I know we can't do it much next year!

scuzzi

Well enjoy your weekends now because soon you might be enlisted for a spot of DIY when the nesting instinct kicks in!

clairec79

One point I'd like to bring up, you keep saying YOU want her to stay home for a year with the baby. What does SHE want to do? She may want to go back to work after 6 months or 9 months - of course she may not and if so all well and good, but it has to be a decision you are both happy with.

Staying home with a baby is not for everyone

She won't get less than SMP (unless 90% of her wages are less than SMP) if half pay is less than SMP she'll get the SMP rate. I am surprised she's getting more than the SMP though if she only started there the month before she conceived, most places you have to be employed for a year because Occupational Mat pay kicks in

ilovecushions

Please check you won't have to repay any maternity pay over SMP if she doesn't return to work.

ironman1

We will definitely keep an eye out for that! She will know more in the next week or so once everything has been sorted out. Really can't wait now... just got to try to resist going out as much starting soon!