One of the things which you’ll come to realise quite soon after your pregnancy sinks in is the financial implications! I was employed throughout my 3 pregnancies and was very fortunate to have good a good maternity scheme where my money was gradually reduced to the statutory amount over a period of weeks. There are loads of caveats to maternity pay and its worth thinking about them ideally before pregnancy- for example to qualify you have to have worked a certain amount for 26 weeks before the 15th week before the baby is due. You can find out about them here on the money advice service website.
One of the problems with being off on maternity leave is that you have lots more time to spend money and lots more demands on it. For example, if you want to socialise or just get out the house you’ll find yourself going to coffee shops, playgroups and other activities. These are really important for your mental health, but come at a cost to your pocket. So just how can you save some pennies?
I know that for your first baby you’ll want everything new and lovely, however buying second hand and accepting freebies will save you a fortune. One of the things I’ve learnt is that babies grow very quickly, you wont need all those 0-3 month clothes, there will be stuff they don’t even wear. Babies and small children have no idea what they are wearing, I’d buy one or two nice new outfits and beg, steal and borrow the rest. Also buy quality items if you can (that doesn’t necessarily mean designer)- workhorse clothes which are well made from good fabric will wash and wear so they are always more economical. My third child is wearing the first child’s wardrobe and it looks a good as new!
The same principle applies to all the baby equipment. There is no point in buying an expensive top of the range pram, everyone ends up with a Maclaren. A change mat on the floor is better than a changing unit which they’ll only fall off and will take up loads of space. Don’t let anyone tell you that you can sell it all for big bucks once you’ve finished with it- the kids will trash it all and no-one will want it.
Toys will be a real temptation. Avoid at all costs. They only need one or two and the rest will become clutter and the bane of your life. If you enjoy books with your child (very important), then curate a small bookshelf and make the best use of your library.
The other thing which will save a fortune is to try to make the most of all the free activities out there. Baby rhyme time at the library is brilliant, many museums offer great free children’s activities or why not start a craft group with like minded mums at your house?
I loved my periods of maternity leave and loathed them in equal measure. It can be very empowering becoming a parent, but at the same time very difficult when you experience a massive loss of income and to a certain extent a loss of personal status. Getting to grips with your finances before the baby comes will give you a brilliant start to parenting, after all a happy mummy makes for a happy baby!