Help during maternity leave?

BottomRung

HI All

My gf is pregnant and due end of July. We both work full time with me earning 21,000 and her earning 28,000 p.a., which sounds a lot but we live in a very expensive part of the country. gf is intending to take 9 months maternity leave with maternity pay 75% first 2 months, 50% second 2 months, 25% next 2 months then statutary from there on. We have a mortgage and bills to pay which I will not be able to afford on my income alone and work long hours anyway so no chance of a second job. My concern is that we will sink fast with just a portion of our income to live on and i'm getting increasingly worried that it is going to go horribly wrong. Is there any sort of benefits or help we can get to try and keep us afloat through this period or are we doomed?

Any advice would be appreciated as I really can't seem to enjoy what should be an exciting part of my life because of all the worry.

Horseunderwater

Suggest you start cutting costs and setting a proper budget now. Post up a SOA on the debt free wanabees board and ask them to help you figure it out. Reviewing outgoings can be very illuminating indeed. You'd be surprised at what savings can be achieved, even if you think there are none to make. Simple things like cancelling Skye TV - cutting down mobile phone call costs to more basic packages. Insurance - do you need to cover it all or are there some things that are covered on another policy. Are you using a bank account that takes a £15 fee and provides some cover for some stuff and do you use it enough to warrant that fee?

McKneff

I can only endorse what horseunderwater says.

Post up a statement of affairs, it will help a lot.

You dont need to buy all new things for baby, they sharp grow out of things. Car boot sales and gumtree are amazing places for bargains.
Get a bit extra baby orientated stuff when out shopping, you dont miss the money and you;ll have a nice store of it for when baby arrives.

Look for local auctions on the internet, we have on where I live. Just google your home town xxxx local auction.

Good luck

BottomRung

I went through a cost cutting excercise back in November and have literally cut out every unnecessary expense I can but i'm quite sure it won't be enough. I worked out my finances to the very last penny and even worked out how much per hour it costs me to live and it is very close to the wire, which is why i'm now panicking a bit. I have no chance of overtime as am salaried so any extra hours are for nothing. I really want her to have this time but i'm just not sure we can afford it. Also i'm sure childcare would be just as much if she were to return to work. I'm sure people are thinking 'why have a kid now then' but I am 41 and she is 37, so we either do it now or regret not doing it later.

WestonDave

Have you factored getting child benefit into your calculations - that will start from when the baby is born.

BottomRung

I know nothing of Child Benefit or even if we'd be entitled. Seems we are classed as high earners but as we live in a very expensive area our income, or at least mine, only covers bills, mortgage, car expenses, food etc so assumed that we'd be entitled to nothing. Whereabouts can I look into the Child Benefit? Sorry for sounding thick but never claimed for anything before.

McKneff

Google it and as suggested before post up an SOA.

Do you really need a car?


'not sure that you can afford it' I dont think you have any choice to be honest.

Are you eligible for childcare vouchers, do you have any family who can help with childcare.

Any chance of asking for a raise at work then

sammyjammy

BottomRung wrote: »

I know nothing of Child Benefit or even if we'd be entitled. Seems we are classed as high earners but as we live in a very expensive area our income, or at least mine, only covers bills, mortgage, car expenses, food etc so assumed that we'd be entitled to nothing. Whereabouts can I look into the Child Benefit? Sorry for sounding thick but never claimed for anything before.

You'll definitely get Child Benefit, its only if one of you earns £50k or more that it becomes a question mark.

As you earn the lesser of the two of you have you considered taking some unpaid leave yourself and have her go back to work after six months? I appreciate you want her to have this time before she returns to work but you can't have it both ways. Its still a luxury to be able to take that time, I've worked with people that return to work after four weeks putting their child in full time daycare , but its needs must.

BottomRung

McKneff wrote: »

Do you really need a car?

Sadly I do need my car to get to work every day, there is no bus or train that goes to where I work from where I live without either going into London and then out again or 3 buses and 1 hour 45 mins journey. If I could be rid of the car believe me it would be long gone. Also it's our only car as GF doesn't drive so will need to be kept.

Work give the standard 3% rise every year and there is no negotiation in this climate, i'm probably lucky to have a secure job in the industry I work in so more money is unlikely. I will be taking holiday to help when the baby comes but only 2 weeks so no paternity leave. We have a lot of unneeded things which we will be ebaying while she is off but do not want to rely on this.

I will post up an SOA later when I get home and hopefully find something to reduce costs.

My parents would be willing to help with SOME childcare but as they are getting on these days I don't think they could cope too often.

McKneff

Maybe your job would frown on you being on here during work time.

You really dont want to be getting the sack for being on here instead of working.

Could your OH go back to work and you stay at home if she earns more than you. Just an idea..........

flea72

BottomRung wrote: »

Sadly I do need my car to get to work every day, there is no bus or train that goes to where I work from where I live without either going into London and then out again or 3 buses and 1 hour 45 mins journey. If I could be rid of the car believe me it would be long gone. Also it's our only car as GF doesn't drive so will need to be kept.

Why would you live somewhere that isn't easily commutable to your workplace, especial when it doesnt pay that great? Can you not bike. A bus journey of 1hr 45mins, must be no more than 10miles, which is easily bikeable

But as already said, it would be better if your OH returned to work f/t and you took over the childcare, seeing as you are on the lower wage