It’s no secret that maternity pay in the UK isn’t great. You’ll get 90% of your average weekly earnings (before tax) then £184.03 or 90% of your weekly earnings (whichever is lower) for 33 weeks.
Norway’s parental leave is very generous. Covering 49 weeks at full income, or 59 weeks with 80% income.
When I found out I was pregnant, one of my first concerns was financial.
I knew I needed to budget and plan to make it work. I did the same when I was self employed and on Maternity Allowance so I had an idea of what I needed to do.
So, if you’re facing reduced pay during your maternity leave, here are my budgeting tips for statatory maternity pay.
Know your budget
It’s not guess work. You need to know exactly how much you spend every month. Get yourself a spreadsheet with all your outgoings listed. Look at your bank account to check any you might have missed. Don’t forget to add up things like haircuts you have in a year and divide into a monthly payment.
Budget for Birthdays and Events
During your maternity leave, there’s likely going to be a birthday or two. Add up how much you’ll spend at all these parties/events/gifts, and divide it by the number of months you’re having on maternity leave. Put it in a pot, virtual or otherwise.
Look at Monzo
Talking of pots, Monzo is amazing for budgeting. Set up a pot for things like haircuts and beauty, birthdays, hobbies, petrol, and food shopping. Each month, put money in here so it’s ear marked. If you have money left at the end of the month in things like petrol and food shopping, stick it in the savings.
Savings account
Get yourself a decent savings account with good interest rates. Put all your savings in here.
Round ups
Monzo and Halifax both have the option to round up payments to go in your savings. So when you spend 75p on your card, 25p will go in the savings account. Since May, my roundups have got me over £100. This is money I didn’t even notice saving!
Cashback
Every time you shop online, you should check TopCashback. See if the shop you’re buying from is on TopCashback and the deal available. When you’re buying house/car/contents insurance, check on there too as sometimes you get money for using a comparison site.
Moneybox
I signed up to this app called Moneybox as a gateway to investing. I have no clue about investing but it seems to know what it’s up to. I save £2 a week in there. I don’t notice it come out the bank and I don’t miss it. So far, I have £50 in there and have been saving for 5/6 months. I’m not sure if my stocks or shares are on the rise, but it’s better to do this than buy a lottery ticket each week I think.
Join your local library
I love reading. I read two books a month and listen to at least one. Audible costs £7.99 and my book habit is probably £10 a month if I buy second hand. I joined the local library and now access audiobooks for free and as many physical books as I like.
Check your subscription services
If you can’t live without Netflix, look at getting the version with ads which is £4.99. Disney with ads is around £5.
Or, enjoy the free ones. Channel 4, BBC, Five, ITV, all have some great stuff one. Some even have films and full series to binge on your maternity leave.
Sell on Vinted and Facebook
If you’re having a baby, chances are you need more space to make room for all their stuff. Have a good clear out and sell things on Vinted and Facebook market place. If you have lots of kids clothes to sell try doing bundles of leggings or tops. Paying for loads of postage is annoying so this could be a really selling point for your stuff. Try to sell seasonally, too. Who wants a summer dress in the depths of winter? Save the fancy dress for September and October when people are thinking of Halloween. Get the snow suits out in the autumn. You’ll have more success.
Shop cheap
Now isn’t the time to buy fancy nappies. Tesco nappies are a few pounds, Pampers are between £5 and £10. Lots of supermarkets now do biodegradable wipes for under £1, too.
Use your KIT days
You get paid for KIT days. Use all 10 to boost your salary during maternity leave.
Sign up to loyalty cards
Never go to the supermarket without your Clubcard, Waitrose card, Nectar card, Coop card. Sign up to them all! Waitrose and Coop let you choose offers each week, Midcountries Coop do Member prices, Tesco do Clubcard prices, and Nectar give offers to card holders. Load them all onto your phone so you don’t get caught out.
Boost your income
When you claim statutory maternity pay, you can work on a freelance basis. It has to be genuine self employment though. I heard one woman took up a job as a Hermes delivery driver one day a week to boost her money.
Tax free childcare and child benefit
If you have children, make sure you’re claiming everything you can.
You may be eligible for up to 30 free hours, child benefit, and tax free childcare.
Shop pre-owned
All the baby boy’s clothes I’ve got from the charity shop or Vinted. The things I’ve got are in perfect condition. I think I’ve got about 10-12 outfits and haven’t spent more than £20 in total.
Plan your meals
Planning your meals takes the guesswork out of your week and helps reduce food waste. Doing this will stop you literally throwing money in the bin.
How will you save for maternity leave? Are you considering taking less time off?
Fromthemotherside 
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