Statutory Maternity Pay....how have you survived?

[spaced]

My wife and I's baby is due in Nov 07. Having looked at company maternity pay (90% of earning for first 6 weeks) and SMP at �108/week after that, we are wondering how other people have afforded their mortage and bills?

I will still work, but my wife will not off for 6 months We have looked at a mortage holiday but this is too costly. We have some savings and I have worked out that we need around �5000 to cover all bills and mortgage for 6mths ontop of our savings. Our best option is a �5000 loand from my dad.

Just wanted to know what other mums and dads have done to survive and if you have any tips.

TIA

[redcrx]

start saving now and get your finances in order.
If you really dont think you can manage then returning to work is the only real option.
Have you checked to see if you are entitled to family tax credit? this can be a reasonable sum for first year of babys life. You will also get child benefit regardless of your income.

[nat_84]

Well as we (me and partner) both currently live at home or in his case with his friend we are lasting out in that situation and saving as much dosh as poss!! My mum doesnt expect rent from me, which allows me to save most of my wage.

We'll rent a one bedroom flat until i go back to work full-time and then look for somewhere permanent.

Its a bloody nightmare though!!!

[stewey]

I really do not understand why young people today think that it is up to others (employers and/or taxpayers to subsidize their having children. I would suggest that they should become financially stable and settled prior to raising a family.

[nat_84]

Where'd that come from stewey?

I'm 22 and my partner 25 we both have good full-time jobs and are saving but its still difficult to survive on basic SMP!

I'm also quite bitter in the sense that i've paid a lot towards taxes since i started working when i was 16 - so i think surely i deserve the support when i need it?!

[sleepyj]

if every one waited till they was financially stable im sure no one would have kids . dont matter how much money you have you always need more . good luck spaced

[Gef]

I agree with stewey.

[bednobs]

i cant believe you are bitter after only paying 6 years of taxes! roll on the next 50!
i have t say i agree with both stewey AND spaced!