Maternity Leave Guide – 4 Tips to Avoid Debt During Your Maternity Leaves

Maternity Leave Guide 

The majority of top UK employers are generous enough to their female employees for giving paid maternity leaves, but they are not ranking well when it comes to giving “well-paid” maternity leave.  In accordance with the International Network on Leave Policies and Research, getting 65% of the salary while on maternity leave is known as ‘well-paid’.

It is hardly surprising then that, in accordance with a report by USwitch, 28% of new mums in Great Britain end up in financial debt.

Many new mothers are typically in for a big jolt when their money is scaled back to the bare bone right after the first 6 weeks of full pay (or even a bit more time if their employers are generous and provide them with a National Debt Help). Below are great tips to ensure that you don’t even up on the poverty line right after your new baby arrives:

Aldi Baby & Toddler Event and how to Make a nappy cake

1.  Forget to plan, and you will feel the crunch

Everyone knows that the cost of childcare is high – that has been well publicised enough.

On the other hand, the money necessary for having those important couple of weeks with a new baby is usually not noticed until the baby comes.

It is, as a result, quite essential to plan your budget. Purchase all the pricey things like cots, pushchairs, and child car seats before your baby arrives, because you will certainly have a lot more accessible money then.

2.  Start clearing your financial obligations before the newborn

If you know that you have a loan or any other financial obligations that are small enough to repay, do so. Even if it helps you save paying £40 a month towards the balance each month, that is the money you can easily use when your baby arrives.

3.  Save, save, and save!

Something always crops up that requires paying…having an infant around will not change that!

Therefore, it is vital that you save towards your unexpected emergency fund so that you have something to use in times of actual need.

4.  Be sensible about how long you’ll be on maternity leave

If you have put pen to paper and also planned the maternity leave funds, you will know whether you can easily live on £400 or not.

Although we all love our kids and want to look after them full time as long as we want to do this, going into financial debt may not give them the most effective start in life – you will be depressed and stressed, and may not really be able to spend the money for nutrients your body requires to keep you going so that you can look after your baby.

If this means reducing your maternity leave from a year to six months, then do it! You can find nurseries that take infants from 6 weeks old, so don’t feel there’s no alternative but to live in financial debt.

This is a collaborative post.



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Lynn Beattie

Aka Mrs MummyPenny

Personal Finance Expert

I write about personal finance made simple, lifestyle choices that will save you time and money, as well as products and services that offer great value.

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