How much debt did you acrue on maternity leave?

Oog

Honestly, how much debt did you build up on maternity leave, especially if you were the main earner?

Despite superb MSE budgeting and saving, a baby arriving nine weeks early means the credit card is going to be loaded up more than I would like...

jackieblack

Apart from the mortgage, none.
DH had been out of work when we met and so we were accustomed to managing on one income. When he finally got a permanent job we kept our lifestyle the same and used his income to renovate the house we'd bought, so still managed on one income.
This meant that when we were expecting our DD we knew we could manage on one income just fine
We didn't have a car or holidays, didn't buy takeaways or go out to restaurants/clubbing/ drinking, but we'd never done those things before so didn't miss them.
The first/only debt we accrued was when DD was 2 and we decided to buy a car, and I got a part-time job (evenings, when DH was home to look after DD) in order to cover the loan payments.

(I would add that neither DH or I have ever been high earners, in fact our combined household income barely reaches the level of the so called 'average' UK wage.)

Mrs_Soup

None. In fact we became mortgage free during my first maternity leave. Didn't last long as we moved to a bigger house when expecting child number 2 a year or so later but didn't accrue any debt with that one either although only husband was working then. This was however 4.5-8 years ago when we were still entitled to child tax credits on income including the baby element which doesn't exist anymore I believe. The income threshhold for this was slashed to 40K or less just as our second child reached a year old so instead of CTC halving from £80 to about £40 month it went altogether.

penguin83

With baby number 2 (unplanned!), we had to take out a 5k loan to cover the lost earnings for my maternity and I went back to work early. With number 3, I was fortunate enough to have a very generous maternity package and was off for 11 months with only 12 weeks of that being less than full pay and I had savings to cover that. x

Oog

I think I'm just annoyed at how I saved meticulously for this maternity leave and it's not going to break even if I want to spend any quality time at home, not in hospital.
I've managed to wangle a 0% purchase card for a year in case things get really tight but I'm caught between living like a hermit (which is making my maternity leave really quite depressing) and going into debt so we can have a coffee if we leave the house!
I'll be £2k short in the last month of leave.

onlyroz

Didn't accumulate any debt but could only afford to take four months maternity leave because SMP wasn't enough to pay the bills.

Littke1devil

Hi I'm the same tool only 4 months with number 1 and this time will be 3 maybe 3 and a half depending on when he arrives. Very lucky to work in a school so do get holidays off with the kids

mwa

About 2 k into my overdraft after 9 months off. You'll never get that time again though so I am quite relaxed about it!

millysg1

Ive worked out I need to have £5k of savings to cover my maternity leave as I am the main earner. Therefore, since finding out im pregnant, we have Saved Saved Saved and forgone on ALL luxuries. I refuse to take on debts/loans unless it is a real must, I.e. cars dies and I have to buy a new one or mortgage for house.

Savings should be enough to cover me while on SMP. Im taking 4 months full pay, 4 months SMP and 1 month of holiday pay.

Everything for the baby has mostly been second hand or we have asked for any outstanding large purchases for Christmas and my birthday presents from family.

lazywife

Can't give you an exact figure Oog, but we saved beforehand to allow for my lack of earnings during mat leave. (I'm main earner) Had a nice package from work as although text book it's only stat mat pay, had car allowance and some bonus that was unexpected.
I must say I would do a budget. Cover everything, so you know where every last penny is accounted for, and then you know your budget for extras. Then you'll know if you can afford a coffee, or if your buying baby wipes with that money. Miserable, but worth it to keep you sane. Don't forget you'll spend a lot less on clothes, make up hair cuts and food whilst your home.
Congrats on your new arrival.
x

Spendless

Initially nothing. Me and husband had both owned our own homes as single people, so were used to just 1 income into a household and making it work. I wasn't returning to my job as my employer only had full time workers and the childcare bill was equivalent to the wages I would fetch into the household.

When son was 6 months old, we went on holiday to France and a day or so before we were due to come home, petrol strikes happened. Of course we hadn't known enough of the language to have grasped this. We had to set off home from the south, filling up with expensive petrol where we found it and staying overnight at whatever hotels were charging when we didn't dare continue driving further and being constricted to eating in the places within walking distance of where we were. We arrived home to a £1k overdraft.

3 weeks after our hol, I'd found a part time weekend/evening job to bridge the gap in our finances!